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Section 32: Power of Central Government to make rules.

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

(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 time within which, 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.

Where this provision sits

ActThe Factoring Regulation Act, 2011
Section32
Marginal notePower of Central Government to make rules.
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.

  • substituted, Act 21 of 2021. .Subs. by Act 21 of 2021, s. 6, for “the form and manner” (w.e.f. 23-8-2021).

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