Section 14: Penalty for charging unauthorised interest
consolidated text (as at 2007). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
14. Penalty for charging unauthorised interest
(1) Any person who lends money at the rate of interest higher than that
authorised by this Act shall commit an offence and shall, on conviction, be
liable to a fine not exceeding 10,000 rupees and to imprisonment for a term
not exceeding 2 years in respect of each such loan.
(2) No prosecution for an offence under this section shall be instituted
except with the authority of the Director of Public Prosecutions.
[S. 14 amended by Act 25 of 2000.]