Section 24
Orders by Authority
(1)
The Authority may, by order, prescribe -
(a)
the maximum rates of interest or profit that finance companies shall pay on different types or classes of deposits;
(b)
the maximum amount or amounts, expressed as percentage or percentages, of total assets that finance companies may hold in one or more types or classes of loans, or advances;
(c)
the minimum down payments and maximum maturity periods for different types or classes of loans or advances granted by finance companies;
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Finance Conzpanies
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(d)
the maximum rates of interest, profit or comn~ission and other charges and the methods of computing such interest, profit or commission and other charges that finance company may impose on different types of classes of loans, or advances granted by them; and
(e)
the maximum amount of loans or advances which finance companies may grant to any person or class of persons.
(2)
Any order made under subsection (I) applies uniformly to all finance companies, or to any class or classes of finance companies, and shall, together with its effective date, be published in the Gazette.