Section 5 in The Punjab Registration of Money Lenders Act, 1938
5. Licensing of money-lenders.
- Every money-lender may apply to the Collector for a licence which shall be granted for such period, in such form, and on such conditions, and on payment of such fees; as may be prescribed.Explanation. - When an application for the renewal of a licence has been received from a licensed money-lender before the expiry of his licence, the existing licence shall be deemed to continue in force until orders on the application have been issued.
