In this Act, unless the context otherwise requires,-
(1) “bank” means a banking company as defined in section 5 of the Banking Regulation Act, 1919 (10 of 1949), and includes the Reserve Bank of India, the State Bank of India and its subsidiary banks, any corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) and any other banking institution notified by the Central Government under section 51 of the Banking Regulation Act, 1949 (10 of 1949);
(2) “Collector” means a Collector of the district or such other officer not below the rank of an Assistant Collector first grade as may be specially empowered by the State Government to discharge the functions of a Collector for the purposes of this Act;
(3) “Commissioner” means the Commissioner appointed by the State Government for the purposes of this Act;
(4) “company” means a company as defined in section 3 of the Companies Act, 1956 (1 of 1956);
(5) “Co-operative society” means a society registered or deemed to be registered under the provisions of the Himachal Pradesh Co-operative Societies Act, 1968 (3 of 1969);
(6) “court” includes a court acting in the exercise of its insolvency jurisdiction;
(7) “interest” includes the return to be made over and above what was actually lent, whether the same is charged or sought to be recovered specially by way of interest or otherwise;
(8) “loan” means an advance whether secured or unsecured of money or in kind at interest and shall include any transaction which the court finds to be in substance a loan, but shall not include-
(a) an advance in kind made by a landlord to his tenant for the purposes of husbandry :
Provided that the market value of the return does not exceed the market value of the advance as estimated at the time of advance;
(b) a deposit of money or other property in a Post Office Savings Bank, or any other Bank, or with a company, or with a co-operative society, or with any employer, as security from his employees;
(c) a loan to or by, or a deposit with, any society or THE HIMACHAL PRADESH REGISTRATION OF MONEY LENDERS, ACT, 1976 3 association registered under the Societies Registration Act, 1860 (21 of 1860), or under any other enactment;
(d) a loan advanced by or to the Central Government or any State Government or by or to any local body or panchayat under the authority of the Central Government or any State Government;
(e) a loan advanced by a bank, a co-operative society or a company, whose accounts are subject to audit by a certified auditor under the Companies Act, 1956 (1 of 1956), or under any other law for the time being in force;
(f) a loan advanced by a trader to a trader, in the regular course of business, in accordance with trade usage;
(g) an advance made on the basis of a negotiable instrument as defined in the Negotiable Instruments Act, 1881 (26 of 1881), other than a promissory note;
(9) “money-lender” means a person, or a firm, carrying on the business or advancing loans and includes 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 of such person-
(i) winds up the estate of such money-lender;
(ii) realises outstanding loans;
(iii) does not renew any existing loan, or advance any fresh loan;
(b) a bona fide assignment by a money-lender of a single loan to anyone 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;
(10) "notification" means a notification published under proper authority in the Rajpatra, Himachal Pradesh;
(11) "prescribed" means prescribed by rules made under this Act;
(12) "State Government" means the Government of Himachal Pradesh;
4 THE HIMACHAL PRADESH REGISTRATION OF MONEY LENDERS, ACT, 1976
(13) "trader" means a person who, in the regular course of business, buys and sells goods or other property, whether moveable, or immoveable and shall include-
(a) a wholesale or retail merchant,
(b) a commission agent,
(c) a broker,
(d) a manufacturer,
(e) a contractor, and
(f) a factory owner, but shall not include a person who sells only his own agricultural produce or cattle; or buys agricultural produce or cattle for his own use.