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Section 26

The Andaman and Nicobar Islands Money-lenders Regulation, 1956.Regulations · 1956

(1) Notwithstanding anything contained in any law for the time being in force, or in anything having the force of law, where a decree is passed, whether before or after the commencement of this Regulation, for the payment by an agricultural debtor of the amount due on any loan advanced to him by a money-lender the court executing the decree— Exemption of portion of holdings trom attachment or sale in execution ol decree.

(i) shall exempt from sale one acre of the land comprised in the holding or holdings of the judgment-debtor, if the area of such land does not exceed three acres; and

(ii) shall exempt from sale one acre and may exempt any further portion of such lend, if the area of such land exceeds three acres:

Provided that the total area exempted from sale shall not exceed one-third of the total area of such land.

(2) For the purposes of this section, agricultural debtor means a person who earns his livelihood wholly or principally—

(a) by the cultivation of land personally or through servants or by hired labour, or

(b) as sn artisan or a field labourer employed in work connected with agriculture (whether he is paid in cash or kind).

CHAPTER VI PENALTIES 27, (1) No money-lender shall take from any debtor any promissory note, acknowledgment, bond or other writing which does not state the actual amount of the loan, or which states such amount wrongly or in excess of what has actually been advanced- Entry of wrong sum in bond, etc.., to be offence.

(2) No money-lender shall execute or cause to be executed any instrument pertaining to a loan, in which blanks are left to be filled after execution.

(3) Whoever contravenes the provisions of sub-section (1) or subsection (2), shall be punishable with fine which may extend to one thousand rupees.

448 THE GAZETTE OF INDIA EXTRAORDINARY [PART II

Where this provision sits

ActThe Andaman and Nicobar Islands Money-lenders Regulation, 1956.
Section26
StatusIn force as published by the source

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