- In this Act, unless the context otherwise requires,-(a)"bank" means a banking company as defined in the Banking Regulation Act, 1949 (Central Act 10 of 1949), and includes:-(i)the Reserve Bank of India constituted under the Reserve Bank of India Act, 1934 (Central Act 2 of 1934);(ii)the State Bank of India constituted under the State Bank of India Act, 1955 (Central Act 23 of 1955);(iii)a subsidiary Bank as defined in the State Bank of India (subsidiary Banks) Act, 1959 (Central Act 38 of 1959);(iv)a corresponding new bank constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (Central Act 5 of 1970); and(v)any other banking institution notified by the Central Government under section 51 of the Banking Regulation Act, 1949 (Central Act 10 of 1949);(vi)any co-operative society carrying on the business of banking;(vii)any residuary non-banking institution duly permitted by the Reserve Bank of India,(b)"business of money-lending" means the business of advancing loans whether in cash or kind and whether or not in connection with or in addition to any other business;(c)"capital" means a sum of money which a money-lender invests in the business of money-lending;(d)"company" means a company as defined in the Companies Act, 1956 (Central Act 1 of 1956);(e)"co-operative society" means a society registered or deemed to have been registered under the Goa Co-operative Societies Act, in force in this State or the Co-operative Societies Act, 1912 (Central Act 2 of 1912), or any Act of any other legislature relating to Co-operative Societies;(f)"Government" means the Government of Goa;(g)"inspection fee" means the fee leviable under section 13 in respect of inspection of books of account of a money-lender;(h)"interest" includes any sum, by whatsoever name called, in excess of the principal paid or payable to a money-lender in consideration of or otherwise in respect of a loan, but does not include any sum lawfully charged by a money-lender for or on account of costs, charges or expenses in accordance with the provisions of this Act, or any other law for the time being in force;(i)"license" means a licence granted under this Act;(j)"licence fee" means a fee payable in respect of a licence;(k)"loan" means an advance at interest, whether of money or in kind, but does not include-(i)a deposit of money or other property in a Government post office bank or in any other bank or in a company or with a Co-operative Society;(A)a loan, by a landlord to his tenant for financing of crops or seasonal finance, of not more than Rs. 5 per acre of land held by the tenant;(B)a loan advanced to an agricultural labourer by his employer.(ii)a loan to, or by, or a deposit with any society or association registered under the Societies Registration Act, 1860 (Central Act 21 of 1860), or any other enactment relating to a public, religious or charitable object;(iii)a loan advanced by the Government or by any local authority authorised by the Government;(iv)a loan advanced to a Government servant from a fund, established for the welfare or assistance of Government servants, and which is sanctioned by the Government;(v)a loan advanced by a Co-operative Society;(vi)an advance made to a subscriber to, or a depositor, in a provident fund, from the amount standing to his credit in the fund in accordance with the rules of the fund;(vii)a loan to or by an insurance company as defined in the Insurance Act, 1938 (Central Act 4 of 1938);(viii)a loan advanced to, or by a bank;(ix)a loan to, or by, or deposit with, anybody (being a body not falling under any of the other provisions of this clause), incorporated by any law for the time being in force in the State of Goa;(x)an advance of any sum exceeding rupees three thousand made on the basis of a Negotiable Instrument as defined in the Negotiable Instruments Act, 1881 (Central Act 26 of 1881), other than a promissory note;(xi)an advance of any sum exceeding rupees three thousand made on the basis of a hundi (written in English or any other Indian language);(xii)an advance made bonafide by any person carrying on any business, not having for its primary object the lending of money, if such advance is made in the regular course of his business;(xiii)except for the purposes of sections 29 and 31,-Explanation. - The expression "tenant" shall have the meaning assigned to it in the Goa, Daman and Diu Agricultural Tenancy Act, 1964 (Act 7 of 1964), or any other relevant tenancy law in force relating to tenancy or agricultural lands;(l)"money-lender" means,-(i)an individual; or(ii)an undivided Hindu Family; or(iii)a company; or(iv)an unincorporated body of individuals, who or which-(a)carries on business of money-lending in the State; or does any activity of lending of any finance;(b)has his or its principal place of such business in the State, and includes a pawnbroker but does not include-(i)Government,(ii)a local authority,(iii)a bank,(iv)the Agricultural Refinance Corporation constituted under the Agricultural Refinance (AND Development) Corporation Act, 1963 (Central Act 10 of 1963); or(v)any other banking, financial or any institution which the Government may, by notification in the Official Gazette, specify in this behalf;(m)"pawn-broker" means a money-lender who in the ordinary course of his business advances a loan and takes goods or property in pawn as security for payment of such loan;(n)"prescribed" means prescribed by rules made under this Act;(o)"principal" means in relation to a loan, the amount actually advanced to the debtor;(p)"Provident Fund" means a Provident Fund as defined in the Provident Funds Act, 1925 (Central Act 19 of 1925), and includes a Government Provident Fund and a Railway Provident Fund as defined in the said Act;(q)"State" means the State of Goa;(r)"recognised language" means in Konkani, Marathi, Hindi, English;(s)"register" means the register of money-lenders maintained under section 4;(t)"rules" means the rules made under this Act;(u)"suit to which this Act applies" means any suit or proceeding-(a)for the recovery of a loan made before or after the day on which this Act comes into force;(b)for the enforcement of any security taken or any agreement, made after the date on which this Act comes into force in respect of any loan made either before or after the said date; or(c)for the redemption of any security given after the date on which this Act comes into force in respect of any loan made either before or after the said date;(v)"trader" means a person who in the regular course of business buys and sells goods or other property, whether movable or immovable, and includes-(i)a wholesale or retail merchant,(ii)a commission agent,(iii)a broker,(iv)a manufacturer,(v)a contractor,(vi)a factory owner, but does not include an artisan or a person who sells his agricultural produce or cattle or buys agricultural produce or cattle for his use.Explanation. - For the purposes of this clause, an "artisan" means a person who does not employ more than 10 workers in a manufacturing process on any one day of the twelve months immediately preceding.
