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1. Short title and extent.-

(1) This Act may be called Usurious Loans Act, 1918.

(2) It extends to the whole of India except 2 [the territories which, immediately before the 1st November, 1956, were comprised in Part B States] 3***.

(3) The State Government may, by notification in the Official Gazette, direct that it shall not apply to any area, class of persons, or class of transactions which it may specify in its notification.

1. It has been amended in the U.P. by U.P. Act 23 of 1934 and by Act 29 of 1976 in the C.P. by C.P. Act 11 of 1934, in Madras by Mad. Act 8 of 1937, in East Punjab by E.P. Act 4 of 1948, in Andhra Pradesh by A.P. Act 24 of 1961, and in Himachal Pradesh by H.P. Act 3 of 1970.

The Act has been extended to the whole of Madhya Pradesh by N1.P. Act 23 of 1958 (when notified) and to the Union territory of Pondicherry by Act 26 of 1968, s. 3 and Sch. The Act has been repealed in its application to Bellary District by Mysore Act 14 of 1955.

2. Subs. by the A.O. (No. 3) 1956, for "Part B States".

3. The words "including British Baluchistan" omitted by the A.O. 1948.

4. Ins. by Act 28 of 1926, s. 2.

Usurious Loans Act, 1918 Back

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