AdvocateKhoj
Login : Advocate | Client
Home Post Your Case My Account Law College Law Library
    

Factoring Regulation Act, 2011

[No. 12 of 2012]

[22nd January, 2012]

Contents

 

Sections

Particulars

 

Preamble

Chapter I

Preliminary

1

Short title, extent and commencement

2

Definitions

Chapter II

Registration of Factors

3

Registration of factors

4

Provisions of nonbanking financial companies apply to factor

5

Requirement for registration as a factor not to apply to bank or Statutory corporation or Government company

6

Powers of Reserve Bank to give directions and to collect information from factors

Chapter III

Assignment of Receivables

7

Assignment of receivables

8

Notice to debtor and discharge of obligation of such debtor

9

Discharge of liability of debtor on payment to assignee

10

Payment made by debtor to assignor to be held in trust for benefit of assignee in certain cases

Chapter IV

Rights and Obligations of Parties to Contract for Assignment of Receivables

11

Rights and obligations of parties to contract for assignment of receivables

12

Liability of debtor

13

Assignor to be trustee of assignee

14

Liability of debtor in case of an assignor being micro or small enterprises

15

Principle of debtor protection

16

Defences and right of set off of debtor

17

Modification of original contract

18

Breach of contract

Chapter V

Registration of Assignments

19

Registration of certain assignments of receivables transactions

20

Public inspection

Chapter VI

Offences and Penalties

21

Penalties

22

Penalties for non

23

Offences

24

Cognizance of offences

25

Offences by factors

Chapter VII

Miscellaneous

26

Provisions of this Act to override other laws

27

Application of other laws not barred

28

Limitation

29

Confidentiality of information

30

Power to exempt

31

Provisions of this Act not to apply or affect in certain cases

32

Power of Central Government to make rules

33

Laying of rules

34

Power to remove difficulties

35

Amendments to certain enactments

Schedule

Schedule



Bare Acts Back




Client Area | Advocate Area | Blogs | About Us | User Agreement | Privacy Policy | Advertise | Media Coverage | Contact Us | Site Map
powered by nubia  |  driven by neosys