Lawgist22Register of securitisation, reconstruction and security interest transactions
(1) For the purposes of this Act, a record called the Central Register shall be kept at the head office of the Central Registry for entering the particulars of the transactions relating to--
(a) securitisation of financial assets;
(b) reconstruction of financial assets; and
(c) creation of security interest.
(2) Notwithstanding anything contained in sub-section (1), it shall be lawful for the Central Registrar to keep the records wholly or partly in computer, floppies, diskettes or in any other electronic form subject to such safeguards as may be prescribed.
(3) Where such register is maintained wholly or partly in computer, floppies, diskettes or in any other electronic form, under sub-section (2), any reference in this Act to entry in the Central Register shall be construed as a reference to any entry as maintained in computer or in any other electronic form.
(4) The register shall be kept under the control and management of the Central Registrar.
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- 20 Central Registry
- 20A Integration of registration systems with Central Registry
- 20B Delegation of powers
- 21 Central Registrar
- 22 Register of securitisation, reconstruction and security interest transactions
- 23 Filing of transactions of securitisation, reconstruction and creation of security interest
- 24 Modification of security interest registered under this Act
- 25 Asset reconstruction companyor secured creditors to report satisfaction of security interest
- 26 Right to inspect particulars of securitisation, reconstruction and security interest transactions
- 26A Rectification by Central Government in matters of registration, modification and satisfaction, etc
