Section 2(9) in The Punjab Registration of Money-lender's Act, 1938
(9)"Money-lender" means a person, or a firm carrying on the business of advancing loans as defined in this Act, and shall include the legal representatives and the successors-in-interest whether by inheritance, assignment or otherwise, of such person or firm; provided that nothing in this definition shall apply to -(a)a person who is the legal representative or is by inheritance the successor-in-interest of the estate of a deceased money-lender together with all his rights and liabilities; provided that such person only -(i)winds up the estate of such money-lender;(ii)realises outstanding loans;(iii)does not renew any existing loan, nor advance any fresh loan;(b)a bona fide assignment by a money-lender of a single loan to any one other than the wife or husband of such assignor, as the case may be, or any person, who is descended from a common grand-father of the assignor.
