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TAMIL NADU PAWNBROKERS (AMENDMENT) ACT, 1992
TAMIL NADU PAWNBROKERS (AMENDMENT) ACT, 1992
ACT NO.51 OF 1992
An Act further to amend the Tamil Nadu Pawnbrokers Act, 1943.
BE it enacted by the Legislative Assembly of the State of Tamil Nadu in the Forty-third Year of the Republic of India as follows:—
Short title and commencement
1. (1) This Act may be called the Tamil Nadu Pawnbrokers (Amendment) Act, 1992.
(2) It shall be deemed to have come into force on the 14th day of September 1992.
Amendment of section 6
2. In section 6 of the Tamil Nadu Pawnbrokers Act, 1943 (hereinafter referred to as the principal Act), for the proviso to sub-section (1), the following proviso shall be substituted, namely:—
“Provided that the rate of interest to be fixed by the State Government under this sub-section shall not exceed five per cent more than the current bank rate of lending as may be fixed by the Reserve Bank of India, from time to time.”.
Repeal and saving
3. (1) The Tamil Nadu Pawnbrokers (Amendment) Ordinance, 1992 is hereby repealed.
(2) Notwithstanding such repeal, anything done or any action taken under the principal Act, as amended by the said Ordinance, shall be deemed to have been done or taken under the principal Act, as amended by this Act.
