Report No. 63

The Interest Act, 1839

Chapter 1

Introductory

1.1. Genesis of the Report.-

Revision of the Interest Act, 1839 (hereinafter referred to as the Act), which forms the subject-matter of this Report, has been taken up by the Law Commission suo motu as a part of its function of revising Central Acts of general application and importance. Though the Act is a short one, it is a legislative measure not only of importance but also of some difficulty, as will be shown by the discussion that follows in the succeeding chapters of this Report.