Section 3 in The Punjab Registration of Money Lenders Act, 1938
3. Suits and applications by money-lenders barred, unless moneylender is registered and licensed.
- Notwithstanding anything contained in any other enactment for the time being in force, a suit by a money-lender for the recovery of a loan, or an application by a money-lender for the execution of a decree relating to a loan, shall, after the commencement of this Act, be dismissed, unless the money-lender-(a)at the time of the institution of the suit or presentation of the application for execution; or(b)at the time of decreeing the suit or deciding the application for execution-(i)is registered; and(ii)holds a valid licence, in such form and manner as may be prescribed; or(iii)holds a certificate from a Commissioner granted under Section 11, specifying the loan in respect of which the suit is instituted, of the decree in respect of which the application for execution is presented; or(iv)if he is not already a registered and licensed money-lender, a satisfies the Court that he has applied to the Collector to be registered and licensed and that such application is pending; provided that in such a case, the suit or application shall not be finally disposed of until the application of the money-lender for registration and grant of licence pending before the Collector is finally disposed of.
