Lawgist logo - L! Lawgist.
The Factoring Regulation Act

32Power of Central Government to make rules

(1) The Central Government may, in consultation with the Reserve Bank, by notification and in the Electronic Gazette as defined in clause (5) of sub-section (1) of section 2 of the Information Technology Act, 2000 (21 of 2000) make rules for carrying out the provisions of this Act.

(2) In particular and without prejudice to the generality of the foregoing power such rules may provide for all or any of the following matters, namely:—

(a) the form and manner in which the transactions of assignment of receivables in favour of a factor shall be filed and the fee for filing such transaction under sub-section (1) of section 19;

(b) the form and manner in which the satisfaction of assignment of receivable or settlement of the claim shall be registered and the fee for filing such transactions under sub-section (3) of section 19;

(c) fee for inspecting the Central Register under section 20; and

(d) any other matter which is required to be or may be prescribed, in respect of which provision is to be made or may be made by rules.

Download our fully-offline, High speed android app.- Click here

Download the App Now!

Get our Android app for fast and offline Access.

Get it on Google Play
Lawgist is not a law firm and does not engage in the practice of law or provide legal advice or legal representation. All information, software, services, and comments provided on this site are for informational and self-help purposes only and are not intended to be a substitute for professional legal advice. Use of this site is subject to our Terms and Conditions, Disclaimer, and Privacy Policy.About Us Made in ♥ with India, Internet and Lots of Courtroom Dramas