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Section 31A: Power to make regulations.

The Factoring Regulation Act, 2011Central Act · Act 12 of 2012

[31A. Power to make regulations.--(1) The Reserve Bank may, by notification, make regulations consistent with this Act to carry out the provisions of this Act.

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

(a) the manner of granting certificate of registration under sub-section (4) of section 3;

(b) the manner of filling of particulars of transactions with the Central Registry on behalf of factors under sub-section (1A) of section 19;

(c) any other matter which is required to be, or may be, specified by regulations.

(3) Every regulation shall, as soon as may be after it is made by the Reserve Bank, be forwarded to the Central Government and [that Government shall cause a copy of the same to be laid before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the regulation, or both Houses agree that the regulation should not be made, the regulation shall,]

Where this provision sits

ActThe Factoring Regulation Act, 2011
Section31A
Marginal notePower to make regulations.
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • inserted, Act 21 of 2021. . Ins. by Act 21 of 2021, s. 5 (w.e.f. 23-8-2021).
  • substituted, Act 37 of 2023. . Subs. by Act 37 of 2023, s. 3 and the third Schedule, for "that Central Government" (w.e.f. 17-12-2023).

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