Penalty for non compliant repayments expanded to cover specified advances, with penalty equal to the repaid amount. The amendment inserts specified advance into the penalty provision so that any person who repays a loan, deposit or specified advance otherwise than in ... Summary
Penalty for non compliant repayments expanded to cover specified advances, with penalty equal to the repaid amount.
The amendment inserts specified advance into the penalty provision so that any person who repays a loan, deposit or specified advance otherwise than in accordance with the statutory repayment restrictions is liable to pay, by way of penalty, an amount equal to the sum so repaid.
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