- In this Act, unless there is anything repugnant in the subject or context-(i)"bank" means company carrying on the business of banking and registered under any of the enactments relating to companies for the time being in force in the United Kingdom or in any of the Colonies or Dependencies thereof, or in a Part A State or a Part C State or incorporated by an Act of Parliament of the United Kingdom or by Royal Charter or Letters Patent or by any Central Act;(ii)"company" means a company registered under any of the enactments relating to companies for the lime being in force in the United Kingdom or any of the Colonies or Dependencies thereof, or in a Part A State or a Part C State, or incorporated by an Act of Parliament of the United Kingdom or by Royal Charter of Letters Patent and includes Life Assurance Companies to which the Indian Lite Assurance Companies Act, 1912 (VI of 1912), applies;(iii)"co-operative society" means a society registered under the Co-operative Societies Act, 1912 (II of 1912);(iv)"Court" includes a Court acting in the exercise of insolvency jurisdiction;(v)"moneylender" means a person who, in the regular course of business, advances a loan as defined in this Act and shall include, subject to the provisions of Section 3, the legal representatives and the successors-in-interest whether by inheritance, assignment or otherwise of the person who advanced the loan and money-lending shall be construed accordingly;(vi)"interest" includes the return to be made over and above what was actually lent whether the same is charged or sought to be recovered specifically by way of interest or otherwise, whether or not such interest is capitalized within twelve years from the date of the last transaction;(vii)"loan" [means an actual advance made within twelve years from the date of the last transaction] [Substituted by C.P. and Berar Act No. 18 of 1939.] whether of money or in kind at interest and shall include any transaction, which the Court finds to be in substance a loan, but it shall not include -(a)a deposit of money or other property in a Government post office, bank or any other bank or in a company or with a co-operative society,(b)a loan to or by or a deposit with any society, or association registered under the Societies Registration Act, 1860 (XXI of 1860), or under any other enactment,(c)a loan advanced by any Government or by any local authority authorized by any Government,(d)a loan advanced by a bank, a co-operative society or a company whose accounts are subject to audit by a certified auditor under the Companies Act, 1913 (VII of 1913),(e)an advance made on the basis of a negotiable instrument, as defined in the Negotiable Instruments Act, 1881 (XXVI of 1881), other than a promissory note,(f)a transaction which is a charge created by operation of law on, or is in substance a sale of, immovable property,(g)a loan advanced to an agricultural labourer by his employer.(viii)"prescribed" means prescribed by rules made under this Act;[(viii-a) "Sub-Divisional Officer" means the Sub-Divisional Officer within the meaning of Section 22 of the Madhya Pradesh Land Revenue Code, 1959 (No. 20 of 1959);] [Substituted by M.P. Act No. 43 of 1984.](ix)[ "Registering Authority" means in rural area, Zila Panchayat or Janpad Panchayat or Gram Panchayat constituted under the Madhya Pradesh Panchayat Raj Adhiniyam, 1993 (1 of 1994) for their respective Panchayat Areas and in Urban areas, Municipal Corporation constituted under the Madhya Pradesh Municipal Corporation Act, 1956 (No. 23 of 1956) or Municipal Council or Nagar Panchayat constituted under the Madhya Pradesh Municipalities Act, 1961 (No. 37 of 1961) as the case may be, for their respective areas.] [[Substituted by M.P. Act No. 13 of 2001 (w.e.f. 20-4-2001) : Prior to substitution it read as under:'(ix) 'Tahsildar' means a Tahsildar appointed under sub-section (1) of Section 19 of the Madhya Pradesh Land Revenue Code, 1959 (No. 20 of 1959).']]
