Lawgist23Filing of transactions of securitisation, reconstruction and creation of security interest
1[(1)] The particulars of every transaction of securitisation, asset reconstruction or creation of security interest shall be filed, with the Central Registrar in the manner and on payment of such fee as may be prescribed 2***:
3* * * * *
4[Provided 5*** that the Central Government may, by notification, require registration of all transactions of securitisation, or asset reconstruction or creation of security interest which are subsisting on or before the date of establishment of the Central Registry under sub-section (7) of section 20 within such period and on payment of such fees as may be prescribed.]
6[(2) The Central Government may, by notification, require the registration of transaction relating to different types of security interest created on different kinds of property with the Central Registry.
(3) The Central Government may, by rules, prescribe forms for registration for different types of security interest under this section and fee to be charged for such registration.]
Download our fully-offline, High speed android app.- Click here
1. Section 23 numbered as sub-section (1) by Act 44 of 2016, s. 17 (w.e.f. 24-1-2020).
2. The certain words omitted by s. 17, ibid. (w.e.f. 24-1-2020).
3. The Proviso omitted by s. 17, ibid. (w.e.f. 24-1-2020).
4. Ins. by Act 1 of 2013, s.8 (w.e.f. 15-5-2013).
5. The word "further" omitted by Act 44 of 2016, s. 17 (w.e.f. 24-1-2020).
6. Ins. by s. 17, ibid. (w.e.f. 24-1-2020).
- 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
