The Punjab Money Lending and Debtors Protection Laws (Extension and

Amendment) Act, 1960

Act 44 of 1960

Keyword(s):
Transferred Territories

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1960 : Pb. Act 441 MONEY LENDING A N D DEBTORS PROTECTION 4 I7
I-AWS (EXTENSION AND AMENDMENT)

THE PUNJAB MONEY LENDING AND DEBTORS'

PROTECTION LAWS (EXTENSION AND
AMENDMZNT) ACT, 1960.

Seclions

1. Shorl title.

3. Extension of certain mnney lending ilnd debrcirs pro~ectionlaws to tmnsfcrrcd

terri~ories.

4. Repeal and savings.

5. PCJ?!IPI.
!r? remove difficulurs.

SCI EDULE.
 420 MONEY LENDING AND DEBTORS PROTECTION 11960 : Pb. Act 44
LA ws (EXTENSION AND A ~ ~ M E ~ T )

and all rules, notifications and orders made, and all directions or
instructions issucd, themunder, which are in force immediately before
the commencement of this Act in the territories which, immediately before
thc 1st November, 1956, were comprised in the State of Punjab are hereby
ex tended lo and shall be i n force in, the transferred rerritorics.

(2)- With effect from the commencement or this Act, the

amendments specified in column 4 of the Schedule shall be made in the
Acts specified against them in column 3 thermf.
Repeal a1111 4. If immediate] y before the commencemenr oC this AcL [here is
Savings. in'force in the transferred tennitories any law corresponding to any of the
Acts specifjcd in sub-section (I) of section 3 or rules, notifrca~ions,and
orders made directions or instructions issued: thereunder, that 1aw,
including rhe Patiala Relief or Indebtedness Act; 1999 B k. and the Pepsu
Moneylanders Act, 1956,shall upon thc commencement of this Act,
save as othehise expressly provided in this Act, stand repealed :
Provided lhat such repeal shall 11ot d l m -
~

(a) the previous operation of any Iaw so repealed or

anythin2 duly done or suffered thereander ; or

$1 any righ~:privilege, ohiiga~ionor iiabilily acquired:

'
accrued or incurred ynder any law so t-epcalcd ; or

( c ) any penalty, forfeiture or punishment incurred in

respect of any offence committed against any law so
repealed ; or*

(dj any inq:estigation, legal procccding or rcrncdy i n

rcspccl oSany such right, privilege, obliga~ion,liability,
penally, forki~ureur punish men^ as ahresaid ;

and any such invesrigarion, legal prnceerii ng or remedy may be i nstiluted,

continued or enforced, and any such penalty, foifciture or punishment
may bc imposcd, as if this Act had not bccn passcd :

Provided fu~.ihcrthat anyill ing done or any action taken under law
so rcpealed shall be deemed to have been dnne or taken under the
corresponding provision of the enactment extended by sub-section (1)
1960 : Pb. Act 441 M O M Y LENDING AND DEBTORS PROTECTION 42 1
LAWS (EXTENSION AND AMENDMENT)

of section 3 and shall continue to be in force accordingly, unless and until

superseded by anything done or any action taken under the enactment so
extended.

5. If any difficulty arises in giving effect to the provisions of any Power to

of the Acts, rules or orders or instructions or directions now extended to remove
the territories in which they were not in force before the commencement difficulties.
of this Act, the State Government may, by order notified in the Official
Gazctte, make such provisions or givc such directions as appcar to i t to
be nccessaly or expedient for the removal of the. difficulfy.
 MOW-Y LENDING AND DEBTORSPROTECTION 11960 : Pb.Act 44
LAWS (EXTENSION AND AMENDMENT)

THE SCHEDULE
[Sea section 3 (2)1

Enactments Amended

Year No. Short title Amendments

The Punjab Regula- ( Afier rwrion 4, inrerl [he following

tirln n l Accounts secuon namely :-
Act, 1930.

"4-A. (1) Every creditor who receives x,,,ipi for

rrpzymc~tFrcxhis d e b ! o r n n = c ~ ~ ~ ~repqlmen!!?f
!~t'
any loan advanced to him, shall fortl~rvith loan.

givc a receip~therefor.

(2) Notwithstanding anything conmined in -

ally other enacrmcnr for (Ile lime beins in
force in any $11il ur prnceeding relating ru i k
loan, if the c0u1-i that he provisions
o i suir-secrion ji j nave nor been compiica
.-...
L I--,
W ~ L uy
~ I
.L- ---A:&-- !--#.-I,
L ~ C U I ~ JI LI SIMII,
-iri:-~eli:iiaitiff~
claim is estabiished in whole or any part,
riisallow he whole or any podion oi ~ h c
inlercst found due, as may sccrn reasonable
diC(#J::L-L 5 2 &z2:::-!;,ys u:ulE ry,:,
and rnhy r~!rnr l i 5 3 ! ! 0 ~cnq15-

(3) The Provisions of [his section shall not

apply LO any loan madc bcfore the
commcact..rncnL of rhc Punjab
Moneylending, and Debtors' Protcc~ion
Laws (Extension and Amendmen0 Act,
1960, unless any fresh transaction in respect
of such ioan i s made after s u c h
commencemen[."
1960 : Pb. Act 441 MONEY LENDING AND DEBTORS PROTECTION
LAWS (EXTENSION AND AMENDMENT)

year 1 ~o.1 Short Li~le . . Amendments

1936 The Punjab Debtors' (1) Sections 4, 5, 6, 6A, 7 and 8 shall be

Protection Act, omitted and in section 10, aftcr clause (2),
1936
the following clause shall be
added :-

"(3) sub porlion crT ih~;judgcm~nrdcbtor's

land, not exceeding fiFty perccntum thereof,
s,hall not bc liable to ilttachmcnl ur sall: i l l
h e execurion of a decree for the payment
Fif money as in h e opinion of rhc court,
having regard to the judgement-deblor's
incornc frdm all sourccs exccpt such income
as is dependent on the will of anolhcr
person. is sufficient to provide for rhe
rnainlenance of the judgemcn~d e b t ~ rand
the members of his family w h o arc
dependent on him."

(2) Af~ersection11A,insert the following

seclions. namely :-

"1ln. l'he Court may, al any rime on h c ,,,,p lo

apliLn~iano f a judgment-dcb~or,after notice direcr
p v m e n t nf
i i
id Uic cir-crc~-holi~i, i ~i ~h ~i iik , Giciiiiiii
~
dccre tal
cf hiii;, 'i,'h~ih~: ~ , ~ ~ ubyc ~ l ,
~ : j 'i I 2 ~ ; t~;Ls:z~:
~ iigiiiii3:

before or afier the commenccment of-the , instnlment.

Punjab Moneylending and Debtors'
Protectio? Law (Ex~ension and
Amendment) Act, I Qhn: in reqpect nf a [oan
shall be paid in such numbcr of instalments
and subject io such contiitit~ns,on the dales
f i x c d by il, having regard to i h c
circu~nstiinccsof tllr judgement debtor and
424 MONEY tEPlDIEIG A N D DEBTORS PROTEmON [I960 :Pb. Act 44
LAWS (EX*ENSION AND AMENDMENT)

=NO. I Shnrt title Amendment .

-- 4

lhc amounr of !he dccree, as it considers fit.

During The pendcncy of an enquiry under
subject 10 such
1hi5 swtion, Lhc court may,
conditions as i t may impose, ordcr
the stay o f erccutiun o f thc dccrcc.

Such 0rd.r shall be deem" clro ha\,?

been'passcd under scction 47 of the ,

'
Code of Civil Procedure, 1308.
., . , m

. 1 IC. No money lender sh311 receivr:

, frnm a dcbtor nr intending deh!or any
sum oLher than reasonablr costs of
i n v e s t i g a t i o ~ tiile to the property,
cosls o f s t a m p , registration of
docunlc~its a11d atlicr u s u a l our of '

pocket expcnscs in cases where an

agrcemcnt between rhc parties
i n c l u d c . ~ rr stipulation h a t property

I i - I i r ro be given as security or by way

1 1 o f rnar!gsgc and where both pattics

I
I
I ~ ~ j a bunder
In force."
le any IXF fa: rhc rime k i n g

37702-L.R.-II,G.P., Chd.