Section 8: Procedure for summary inquiry under section 7

On the receipt of an applicationfor the grant or renewal of a licence, the Assistant Registrar shall make the summary inquiry under section by examining the applicant or person responsible for the management of the business of money-lending or such other persons as he may deem fit, by calling for such information from the applicant as he considers necessary and by inspecting or causing to be inspected such accounts and documents as he may deem fit in order to satisfy himself about the bonafides, and conduct of the applicant. If from the examination made or information supplied, the Assistant Registrar is not so satisfied, he may take further steps to satisfy himself. The Assistant Registrar shall maintain a record of such inquiry and shall sign below the same. The record shall contain a brief memorandum of the substance of evidence taken and a summary of the conclusions regarding the facts elicited during the inquiry.