Notwithstanding anything to the contrary contained in any other law for the time being in force, where a debtor makes any payment to an assignor which represents payment due on an assigned receivable, such payment shall be deemed to be for the benefit of the assignee, and the assignor shall be deemed to have received the amount of such payment as a trustee of the assignee and the assignor shall make payment of such amount to the assignee.
Section 13: Assignor to be trustee of assignee.
The Factoring Regulation Act, 2011Central Act · Act 12 of 2012
Where this provision sits
| Act | The Factoring Regulation Act, 2011 |
|---|---|
| Section | 13 |
| Marginal note | Assignor to be trustee of assignee. |
| Jurisdiction | Central |
| Status | In force as published by the source |
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