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Factoring Regulation Act, 2011

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

Where no notice of assignment of receivables is given by the assignor or under his authority by the assignee, any payment made by the debtor in respect of such receivables to the assignor shall be held in trust for the benefit of the assignee which shall be forthwith be paid over to such assignee, as the case may be, or its agent duly authorised in this behalf.

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