In force
The Factoring Regulation Act, 2011
31 sections · As amended up to 2026-08
Sections
- VII — MISCELLANEOUS
- 1Ins. by Act 21 of 2021, s. 5 (w.e.f. 23-8-2021)
- I — PRELIMINARY
- 2Definitions
- II — REGISTRATION OF FACTORS
- 3Registration of factors
- 5Recruitment for registration as a factor not to apply to bank or Statutory corporation or Government
- 6Powers of Reserve Bank to give directions and to collect information from factors
- III — ASSIGNMENT OF RECEIVABLES
- 7Section 7
- 8Notice to debtor and discharge of obligation of such debtor
- 9Discharge of liability of debtor on payment to assignee
- 10Payment made by debtor to assignor to be held in trust for benefit of assignee in certain cases
- IV — RIGHTS AND OBLIGATIONS OF PARTIES TO CONTRACT FOR ASSIGNMENT OF RECEIVABLES
- 11Rights and obligations of parties to contract for assignment of receivables
- 14Liability of debtor in case of an assignor being micro or small enterprises
- 15Principle of debtor protection
- 16Defences and right of set off of debtor
- 17Modification of original contract
- 18Breach of contract
- V — REGISTRATION OF ASSIGNMENTS
- 19Registration of certain assignments of receivables transactions
- 20Public inspection
- VI — OFFENCES AND PENALTIES
- 22Penalties for non-compliance of direction by Reserve Bank
- 23Offences
- 24Cognizance of offences
- 25Offences by factors
- VII — MISCELLANEOUS
- 26Provisions of this Act to override other laws
- 28Limitation
- 29Confidentiality of information
- 30Power to exempt
- 31Provisions of this Act not to apply or affect in certain cases
- 31APower to make regulations
- 32Power of Central Government to make rules
- 33Laying of rules
- 34Power to remove difficulties
- 35Amendments to certain enactments