(1)Whoever contravenes any of the provisions of this Act or of any rule made thereunder or of any terms or conditions of a licence granted or deemed to be granted thereunder or makes a claim or a statement which is false or which he does not believe it to be true shall, if no other penalty is elsewhere provided for in this Act for such contravention, be punished with fine which may extend to one thousand rupees.Explanation. - The [cancellation or suspension] [Substituted for the words 'cancellation' by section 5 by the Tamil Nadu Money-lenders (Amendment) Act, 1982 (Tamil Nadu Act 51 of 1982).] of a licence under section 14 shall not be deemed to be a penalty for the purpose of this sub-section.(2)Where a contravention of any of the provisions of this Act or of any rule made thereunder of which a person is convicted consists of an omission to do a thing, the Magistrate may, when convicting the offender, direct him to do the thing before an appointed day and may, on the failure of the offender to do the thing before the said day, pass an order, whether the offender appears in Court or not on that day cancelling his licence.
