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Report No. 63

1.3. Indian and English legislation in the 19th century.-

It is of some interest to note that the Indian Act, enacted in 1839, followed closely on the heels of the Civil Procedure Act, 1833, which was enacted in England and which, to a large extent, relaxed the prohibition against the grant of interest which had been the general view at common law in England. When, in 1854, the usury laws were themselves formally repealed in England, the Indian Legislature also followed suit, by repealing the usury laws1 in 1855. Of course, the prohibition against usury was not, in practice, enforced in courts in England even before the formal repeal by the Act of 1854.2

1. Usury Laws Repeal Act, 1855.

2. See Stephen History of English Criminal Laws, Vol. 3, p. 198.



Interest Act, 1839 Back




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