Company : Sol Infotech Pvt. Ltd. Website : www.courtkutchehry.com Gujarat Money-Lenders (Amendment) Act, 2015 11 OF 2015 [07 April 2015] CONTENTS 1. Short title and commencement 2. Amendment of section 22 of Guj. 14 of 2011 3. Amendment of section 23 of Guj. 14 of 2011 4. Amendment of section 43 of Guj. 14 of 2011 Gujarat Money-Lenders (Amendment) Act, 2015 11 OF 2015 [07 April 2015] AN ACT further to amend the Gujarat Money-Lenders Act, 2011. It is hereby enacted in the Sixty-sixth Year of the Republic of India as follows :- 1. Short title and commencement :- (1) This Act may be called the Gujarat Money-Lenders (Amendment) Act, 2015. (2) It shall come into force on such date as the State Government may, by notification in the Official Gazette, appoint. 2. Amendment of section 22 of Guj. 14 of 2011 :- In the Gujarat Money-Lenders Act, 2011 (hereinafter referred to as "the principal Act"), in section 22, in sub-section (1), for the words "thirty days", the words "forty-five days" shall be substituted. 3. Amendment of section 23 of Guj. 14 of 2011 :- In the principal Act, in section 23, for sub-section (1), the following sub-section shall be substituted, namely:- "(1) The accounts of every Money-Lender shall be audited atleast once in every year by such officer as may be specified by the State Government by notification in Official Gazette, in respect of those money-lenders who have made transactions upto rupees fifty lacs and in other cases by a person who is a Chartered Accountant within the meaning of the Chartered Accountants Act, 1949 or a firm of Chartered Accountants; and the audit report shall be submitted to the Registrar within such period as may be prescribed.". 4. Amendment of section 43 of Guj. 14 of 2011 :- In the principal Act, in section 43, - (i) the words "with imprisonment for a term which may extend to one year and" shall be deleted; (ii) in the proviso, - (a) in clause (i), the words "such imprisonment shall not be less than one month and" shall be deleted; (b) in clause (ii), the words "such imprisonment shall not be less than six months and" shall be deleted.