Union Government, Extraordinary, 2012-01-23, Part II-Section 1, Ref. 12 of 2012

0.89 MB·English

by  Government of India

fed eR icovwn zee HAC ISTERE 0, UL rpm

ORE a USGA
The Gazette of Fndia

EXTRAOHDINARY
wet
AUF I —Sectuo 1
‘ater yer
PUBLISHTD BY ACTHORIIY

Ful ‘af Ror, are TAD 28, 20127 ATR 1933 (RHE
‘No. 15]_ NP DELHI, MONDAY, JANT AMY 23,2012/ MAGHA 3, 1938 (ARCA)

Shiblakshakbakinuin oattinLinnn
Separate pie cen oh Part th ay be el eat cmt,

MINISTRY OF LAWAND JUSTICE
(Legislative Department}
‘ew Dt te 24 Saray, 2121Maph3, 1933 (Se)

the following Act of Parlamenr received the ste othe President the
2a wary 2012, sas hereby publ fr geal information

THE TACTORING REGULATION ACT; 2011

Cio.129r 208

Iona Janay, 2012

‘As Ack to provide for and culty ssigrment of rsevables by aokins povioa fr

‘egisrmson eer and ighs und abligaton af pres le cnet er sgn
-secelahles and fr matics comer hate o ince, rt,

"sence Pele inthe Sn acon Ver ofthe Republi fia os —

curr:
Prsrmasray

1.(1) This Aut may be cae the Fatving Region Act, 2011 het fe

(Chl ends tthe whole oF ii Stuncie

(3) esha ae ns force cnc date neh Cees Goverment by telson
late Offical Guete apai
2 ‘THE GAZETTE OF INDIA EXTRAOKDINAKY Part

Provided dha Mera dass may be ppuine ie dicet provions ota. AP,
and any referencing such provision th ommencement of ais Act ball be consued
as eefercnae tthe coming ino fe ofthat provision.

2. Twahi Ac une the content teri reguies—

(2) “wsigomert™ means wane by ngeemens, of undivided intro of ay
ssimorin acy enable due um any deo ix four of factor su ioeludes 0
‘ssl wbee eerie are the dcr, ae sated ests eu

explanation ~-Vor the parposes ofthis clause, undivided interest of ax assignee
inany receivable shat nt incu creas of igh a ecivables ss ear Foe oak
fd olson oF ala blige bya bank o 2 GiacaliSHIos,

(Gy "sgnce meats loi wove Guar Unreal amr
(2 ssn ems any prs who isthe overs of ay elves
(cea means —

(ipatanking compen,

(Gp actersponding na bak;

(Gita Sate Beak of nia:

(a ebsiry ble

(0) ach ther bak bic he Cental Goverment may by noiteatiaa
spol for he parposee of hs Act an the reconaneations ofthe Reserve

‘Ban or

(1)0 Mal Sale Co-opeive Society rgimered under the Muk-Stare

‘Co-operative Sorieties Act 2007 an cegeto andere busines fucking

‘bythe Reserve Balun ihe proviso ofthe Banking Repti Ac, 9;

£0) "Yankng company” sl] bave (be moningaesignd to En las) of

setion Sof he Banking Repustiot At, 1949;

) “buineseeoterpene” eam any enter ox dion enterprise, era
auspice or sal entries dined in lasses 0) 8) ant (rm) cation 7 oF
‘Ee Mio, Smal nd Medium Erna Developmen As 2006. ope engiged
smn base activity

‘) "soresponding new tank al have he meming arsigned oi in cle
(eof acon Sof te Banking Regulation Ac, 1949;

(Ay Metter” meme ny pcm inl othe sino, wether ude 3 comace
or bee, to pay any revevable or divharg any obliga in spect of tbe
swevivable whee existing, veuing ue, oon contingent

(@ acta means nnen-banking Smeal company 8 defined in clause) oF
ssc 54 ofthe Hest Han fais Ac, 1934 which oben raved aerate
bf repent under axbrecten (2) of wcton 3 or anybody corporal ebb
‘der an Ace of Paianent oc ay Stare Legislanre or ay Bank or Ay Sompaoy
"existed wader Be Companies Ar, 1956 etgaged lathe Factoring busines

a “fscng bosinest” cans. the buns of sequen of civics af
sssigaur by aonpling aie of ck rele ox Facing, wheter by way of
kg ens oF ivan creer gist the sexu ire ver wy roceesles
tam dogs net inhato—

(@ se ates provided by aban oie edinary couse of tases,
agains erty ofectabes,

(sy ats 2 commlsln agence tern for leo prc
produce or goads of amv Kad shatogver or any scivity eating #

moto
se THEE GAPETTE OF IMLAEXTRAORDINARY 3

‘Prodi, oop sappy dbution, sequin or ent uch produ
‘ponds a provision of ey viens,

Etplanasion Forte purpose of ts clawe —

Cte expression esata rodaze” tal have teeing asicd
‘it ander chu (=) of secson 7 of te Agricul Predove (Gtadngtond
Mating) A 195% and

{20 the expressions "goods" end "vomumision ag” stall hive De
‘meanings assigned tn tem espestvey under enue (dhant Vaplnalon i) ne
ane (9 of seo 2 ofthe Feard Contrasts (Results: 1992

(8) "inacil corse means any spo. ford fre, option ox swap
lrcsucton noting interes, vamunaditescutensies shuts ny, debenans,
amv nana insueny ny represen hibag uaneevoa
any she sila onsacting of eobinatnn of such mmsatinselered nari
‘ancl mck

2 “ortting srocment” means sy agcemeat song the sten partes
{rte puase of detemnioation Wy he ssn rovide ofthe amount af ny oy
assures ds oe payabhs ox detbarable a tre oF wating off e ajuong he
‘eprco obigtins or dtivery obligations amongthe sytem arpa eleing
{he hie and oblignionswrsing cu of tetera by

Foleons or ussluon or winding us of any system partpan ie sushcnunconans
«se ster provide my poe. ns es orton or bye laws (by ahnoee,
‘ame cal, fh asacions sini for ween ata ate deo tote
‘arcane dade ore obligation be owned

(o) ‘nccsien rena moicatonpubishok nthe Oil Gane;
("prvi means procribed by ales made uae thi Ack
o

pee ea —
{aikeinmvonable pen
(Gy toe movable ropes

iy any deb os ay gt tt ceive pry of mone, whelher seated
or unseat,

(9d recta:

(the imangible acts, bring ow-Aow, ple, copyrighted
mck, Hone, fie ot any ote buvnce Or cmameseat 2M sl

(9) "recites em al pa of 0 wide itt nay cg of ey
‘aon under a contact nad inertia inte eee asa
‘the deter othe signe issued ur comblbed jn Se cused
amen oft) aum wheter sucht eit uur actng, conte
or contngeravisng oman inines, ay acangenet qo pay! olor
1 the sum ty whatever name ele, freon of ny nbasoen Gly

a) "Reserve Bunk’, ems she Reserve Bunk of hue comtiuied under
section 3 fhe Reserve Bath oflndie ut, 198

1) "Site Bank of Tit seat tbe Sue Rank of fuia eoncinied vec
‘eclon J of he Stat Dank fi Ae. 1955,

(6) "Subsidiary Bank” shall tve he neingstsgnd toi in late pot
‘ettion 2 ofthe Sate Bank ulna Subsidiary Runs) Aa, 195%)
"TH GAZRTTEOF INDIA BXTRAORDINAKY [Pearl

wards and expestnns ed and oot deed inthis Act tt dane in che
reserve Banko a 94, the Danking Regeln Act. 3985 ho Compania At,
1956. the Securiston and Recosrvson of saci] Assets and Rnforeemect of
Seoury Inrest At, 2102, hs Creit tarot Conpanis (Region) Ac 2005,
the Mier, Sal and Melua Brpies Develupmet ct, 2006, al ave the
‘meanings espoctvey aged co he i thse

cuserrRT
car uF SCR
$3.) No fastor shal sutnnenceor ary oo the fang bosiness ules obiine
ceftiete of regattion fm the Revere Bank to comment oF cary onthe toring,
Toioess under tis ck

(Even eter shal make on apication for relocation‘ the Reser Bain sch
mgd manner ast ay speci

Provided a company rise a a oe banking financial orpany and exiting
othe eomaencenant oF Ac sd egagedin fatecng buses ass rncpal bina
‘etre sue estmenccaeatekl] mean application for regisraton os & fa the
‘Reserve Bank bens he expiry of che prod of scrum fr sah comizeoemier ax,
onan hing contained su-ericn (J), omy eotinc tomy of he Rctring
bse ant a cette of cegisran i imied eI or rejection aplicaion fo
‘eisetion is communicstedto

planation Foc the rtoval ot doubs i i bry clare tht now banking
nancial company engaged in fring bss al be reated a engaged in uerng
snes "peripl buses” fu fs the losing conditions, namely —

(a) omit busines a more thn ly pe eam. of
tte asst or sch pt can. as may be ile by the Reserve Pk and

@pifisneare ow ering hasnesis ogee iy percent ofthe ross
noe or ach er oe. 8 yb plated by the Reser Bank

ey Beery apliant rot caine of regisraton afc. hl comp, or
the pose of esata i al the reuieneal oe flied by an apian for want
of coriione af regiation as nen-bantg (stil company uae ths Reserve Disk of
India Ac, 1934 dale peovisiors ofthat Ac, so ar aay ett the eistarion of
‘or-feking fecal compa, tl exept hoe povided for nder his Act murat
satan apply

(dhs caso af esting naming tac compar the Reserve Rank ay ise
2 fesh cee of restrain 2 2 aco, be pip business ofthe non aaking
nance company's he Etoing basins.

(9) Sere as beens povided in hig Act, every facto nutng actor best
to eqasement of eimai under secon 5, bal be govemed by he Raserve Rank of
Thi ct, 1954, he reds and eal ade hereunder al he dseions or guides
inoue ty the Reserve Bank, om fine ote,

4 Al provisions of Chater 1a ofthe Resa Bark of nls Ay, 1924 relating
‘nwbankiog eri connie wich lave boot graneds cnet efragiton unésr
{Rb seton (5) of tion 45-14 af he Rerere Bank fina Ac, 1934 hal exege hase
pei provided Grune thi Ac) matans masedi poly 0 fala wih as Deen
‘punled cerca of egiaton dr ston 3,

Boe
sell hw: GAZETTZOF NDIAENTRAORDS

4 Mohigg enti icete3 blew oa hank amy carpartioneaiched
der ap Artol Patamector Sie Logisigus,o Gaseous efied unde,
seu ofthe Campane Ac 1956.

5.(2) The Resor Banknaatanytinoly generar special onder es a vey
‘ctr dl fui inh aoc rian wb sachin sub tees,
jnfernain or puriurseltng a actvig busines undorshon by the Gt, iy Be
sein hy Be Revere ink fom tine oti.

12) the Reserve Make sy. i conde noes inthe rec of nese
cnr alin aking vier inthe treat of anos or inte of te tale
hater giv diectiens oe als vio generally oc loa acter im pala or aap
cf Fctrs ness of any mis Llwing Gr cnanetel wi tbe Bveing business
sneak Uy sch ators,

«ay sto so ey with o-estion given by the Reeve Bankeunder
sxbssecton 2) the Reserve Bak ray proba tr re ucdeaking te fastoring
besos

Provided tha before probing any factor Hom uoeraking tae fatring business,
"befor sale given atesvemble oppo a being ben

cuaptERL
Asso esrur woos

2.(1) aay saignor ys bya sgronmna ining, sgn any ceiomble dant
payable fo hin by ay debie: 1 aay tictor, beng the assignee, fer a cansidetation at ay
be nro teen asinor an be assignee an he asgaoy hall atthe ime of rick
signe dielse olneasgne uy Bfnes end ight of set of ar ay bo avaliable
‘ob debi:

Provide hth debtor Hien pay he roeivabe othe us we uf to 5
sued or cambisies ouside Ina, yazan of rcivalo sha he see fe
rosin ofehe Fscgn xchange Maganen et 1998

(2) Oneecution oftreemeain itor assent of rocvable,<ltesight,
oes wed ay sey intrest creamed ver any property exclave cous te dus
‘pment of eeleable sal vest ie asic aad he esigoce shal evs an soos
ight wo voor sue receivable and exes all ee righ an rercdin of the amignoe
stheher byway of anges o etre. of whether notice af asian pid in
scion 8 given or at

(3) Any sagpncnt of resivabln which cnstits seam fer rpm of oy
Jean advanced by an Bank of eter eer ania gen ace of sch
crountvaneota fe esta, chavo aveplingocignoen ula receable. eae
tal py the cousidertin for yc gel he Bako se cri, he ake m2
be

4. Any asneofarosivble shallot cored mand pam of ereiable
stom the detor i espero uch eccivabissunlest natce af such aight ye 0
Ube aebur by he asia arto asignce alongwith cepess tary in ove gaol
ty the asian
‘etter

Laie or
‘ee

Laity 0

rine of

THE GAZETTEOF INDIAEXTRAORDINARY Pant

9, Where anatic ofmeignent receivable i gen hy he assign or he signee,
ve a cisomaybe descend the debtor en erlptofsuc oe, tal ake payment
to the anlanee sod pyent ide to sochassienoe in dschage ofan elation ne ton
to recrhblea spied th vie shal ly acberge the debcranking yet,
‘Hom carespondng hil La eso of such pay.

(Were na nde afassigunet of resivables i ivan bythe asignon undo hin
uh by he assance, any payment made by he debor in espe oC uth vocals 0
‘he wsignor shall be eld nut ere bene oo ase ich sl be forth bo
‘aid overto uth alge a8 eeu ny be ots agent dy auto abs bball,

CHAPTER
cars a ss 0S OEE TRACT ASME OF HAAS

1, Whe prj tothe provisions cotaitedin ay ober tha tin ing
ia fre, tbe deer shall have the ight toot cf wsgrmect erection ¥ Defoe ay
eee i rade on by the asigaee and unt navies served en he debor, de eke
thal be ented to make payment fo the assgnce i espect of ese ceeeables in
tecordanee withthe origin erst and such pron shall ly charge the deter
careening nity unr Oe gil sone.

planation — Fortheremovlof dou, tis her claried ht mothng consi
in hie serion sal afer the itn of debtor w make payment to de assignee unde:
reaions,

12, Whate 4 nation of asgnmeot us elie to in scton 8 Is sere, the dior

sat

2) ‘twinte the aagnte keds GF deposit or advance or payer on
secount made tae ansgnr betas Ihe reo of rece of essigament a ls)
‘roid anyother nfrmaton othe axle elallog co the ecivale a an ben
‘alla un by the aigne to da 5,

4) at be etled to «valid ducer of i iii fo regact ofensiged
wocivablea, ums he man tha payee due oman eign acs}ales 1 the
assanee.

14 Nowithaanding angting ocr cote in any oter aw forthe ie
bring inne, where debtor makes any payne af signe which represen pyre
onan signed reeiable, sch pyaar hl be deemed 0 be fer tebe of the
‘signs andthe enigner sal be deme shave rected Be maou oe pants
{tne ofthe nse dhe asin ball make rycen of ch amount nh ssc.

14, (2) be asigno of secivabiesis amir ur Svl entering the Lib ofthe
boro make payotot due on assigned cevables shale abject to the provisions
‘tale in etone 117 of Mir, Sul ané Median Entepsss Developme Act,
2006 wits pds to Ue ped payments fhe ocr,

2) Inte event of delay it payment onthe par of he debor a pay he recevable of
any ero selene he assign sal be enc to ecient forthe delay
‘evan hal ake spaunder the provisos ofthe Mio, Sealand Medium Eolepises
Developer Ac, 2006 forthe prone of he every of Iho iret acd bal pa such
inves othe mcr esl ceri.

18. (F)Saee as ctkervseprvuded in is Atay ssgument ofthe recsivable stall
x, whol the cxprem conte ofthe debi ia ting afte ek and bl guns af
the dtr Cnelodgg be los ad cantons of tio seat.
se ‘THE GAZETTE OF INDIA FX RAORDINARY a

(2) Gaosocuent opm he asigamont of receivables, tbe payed inseation unde
Die coaract ented into hetween agnor ane bier mynd te cae oF pata,
reso atcountio wht te bors gual male pe, bets nacho
mi

(4) he ero of dtr pei ia te gia canes ot

Grthe ple spect nth urgaleotactt which pyr ito een oo
in exe na such pac is mentonc in econ Be pte pymen oa place
ter han where tho br asso

(6) he cane on ich payee st he eu ther ter of th il
court clatig to pam

46, teactan by beast apts thdebio fr payee of tiassgna esha
toe dobar rie spun he wSinee —

{ll Stones nod ight i se fF esng on se ocgal untae. eteced
Sto ween th agnor an ees ny tr coma thal a pt Ll sare
lossto, of whi the db could vat hinsei as omiguncat hd et Deon
sade ao oh lao were made hy Ee aso tad of esigone

Provide et hens sal, une ole red beta the pert.
locale ceuer rom dhe assign, yan sized by i rosdh af wy
lene a igh fe fing exerci bythe bie,

8) amy eter sigh fe iit wn veto he deo th tiene,
"ater eatin 8. of i sigument us occ byte debe

1.) Anyonteemmotrade beforsevce of ova underseton of he usgnen
of & mceable hence the sssignne wad the dhe that alts the ane gis
"espe of ht rercvable sal he ells a agunst te ssl, aad the ego hal
sec iis in signed eeceibhs, ay madi by mach acme

(2) Aoy areomeal mde, ater notice oe atcg cent tice che anor en he
cher hat ates teas gee shall bined aginst Be ase nse

(2) anise consents oor
lan reecivable emily corte perfomance nde Pe micetinn

§ provided fin the orignal cont x, the unten heigl cont
eaooablessguee ould consent othe tidincatien

(Noting consid sbscton 1) a (2) tall aft an plea te agro
‘orth asin arising Fa brach om agroment besa them,

8 Tbe sigur commis any breach of he vinta ante with the debtor,
Sra sta ro ati he debtor fo seca oe asince ay se pl by the dluoy
‘he nsigaror de assignee parma tothe fering Marston

Providethat ring corse in this cio half ig oe debi fo
oi fom the ssignor any Ins or dares eabed to linn by 3ason of
original cua,

CHvTERY
ruses asics

18.) Boer ctor sal rhe purpowe ofragisraon te priulan very
_unactimofssipweotof recess favor wih Ue Catal Negi ene sees
‘inde section 20 of he Souris tn Reconstr Asses nd cule
oferty treat Act, 242, within a period of hy dps um he Ate a sch agave
Hom the date of ex shee of suc wey, a fe cate tay bein the wena sd
‘wbjecto pyro sh i a maybe esrb shall

aust oat
8 {HLL GA/ETTEOF INDIA EXTRAORDINARY Pact—

_Explonetion — For ts purpase of ing of parla of every tanscton of
assume i receivables wilt the Can: lepsny, the seosiabls tay bo devenbod
fpostiely or geval wt rferece oe der. cr the orodsa whl hy rele ot by
ay her generat descrip Hy whieh suc reeconles an be ident

Gy Forthepunposesofths Art, arcana the Cental Regitar stall be kp a he
ead ee of be Crna Repety Cr coving the panies of he manson lingo
uighment of rosea ia Fiver of ator

{Gp On ats of tae signed eceluabkes or stlenent ofthe lain aginst C=
atone tcer hal ile aiafetion of Ye aint ot eccenes n i avou in
‘heh caine ant subject te pant af wc os a8 ay be peserbed in is bbl

{eh Tee poviioos fr eegsttin of racsastlons oon in the Serio od
Resonate of Financ Asso and Pnforecmen of Seurity oteren Act 2002 andthe
‘les mae rather etal mateo appt the eae ofaigrnctofreseble
infer of aot nthe Canal Roper withthe Cetra Regi,

10. (F) The pica of tneatons of asi of ose entered i the
‘Ceotal Regist of ach vanatians unr ection 18 sal be oon during bones wes
fer nnpeton by axypison on payee of sch fee a zy be resented

{ap the Central Register ered tia subsetion (2) of eon 19 aiid i
lesson fo shal alo by open dig Ze busoes hear or auch ete hours aay
Drone byte Cone Relay Sr aspctian by ay person iru lewis medi
ce pment of ih ero ny be preseibed

(Gb The provisions for mainénanr of Cetel Raita nd pubic pectin
contained in he Secwidton and Yoconszution of Pmncal Asses and Pforcemet of
‘Slvurtynerost Ae 2002 andthe eles rade heeundc shall, matrs mona, apy

CHAPTER VI
rcs 0 ERs

1M, Ya detul sadn Sling mder sein 19 te peta any wamsction af
assignment of ecovebes aad reliaon of ecavabes by fot, such company a
‘Sey ofecr of Ue company wh tin dau hall be purshale wits fe wich Hy
hide Sve musa pes Gor every say ding which he debut natin.

22, (1 ih fat fils to comply with any directo ssc by the Reserve Hank
ouer son 6, he Reserve Barony nose penalty wach may extn fee a
Mets andthe eae ofecoutning once, wit an abode which oy exe
en Wound rupees reer day daring whlch de eT conucs.

Ch Forthe pupox of djing the petty under sub-section (1, the esr Bane
shot sorve aie om tbe ace requing ios cause why The ampone self nthe
‘ovce sould not be ipoved and resonable oppor of being hier shall tobe
vane such er.

is) Any penalty spac! By the Reserve Bank us hi ect stall be pai
‘win pera of fearon doy: am toe deen which tice ed byte Rete Bank
‘Reveaibe paynea tre aun sven hc tr andin the event fe ft Bete
to poy to fo whl uch pid tay e vied an dietion made hy he pineal cit
‘out having jeadctionintheanea whe the regieed oon oft factor ena
(frtescafa ctor acornatd ousls aa, er princi lac of basis noi»
Sysco

Provided tht nn such ction sb ae me cop a api mar te the
vb he Reserve Basso any ocr aubrised by Reserve Mak inthis eal

(dy Tha coum which makes destin under subseton (9) shal ase a cette
psig ve sun pale bythe ror vey sub corte stl be efereabe
‘Dere tanner oftware adeetoemnde by De cout asi i
‘TH. G AAETTLOF INDIA EXTRAORDINARY a

23. Fay psc comravenes or aes lo conten ahs he contre of
the provisnic oth cto ofany rls ade heuer, fr which ap pei pen han
been provided fr he bul be ponistabl wih inpisemen for accents ay extend to
aye; with ing, th bo,

224 (/9NoCounshal ks anpnzmee of any ffs rlshable ander Act cep
spoon complain wring nade by an oficer ofthe Resorve Bank, snealy osexly
authors ioe iad bbl by the Reserve Bac

(2) Nv Court br than ta ofa Meepotita Magia Jil Mogi of
fhe fs los oa cour super Hero lal eng ach eee pnb end hie

25, (1) Where afferes oer hi Act hat bon come by a ft ers yee
whoa ie ine the ance win coe wa it charge and was spore foe
Tao, Jrte eenduct of he snes oft for a lth fat, shall Pe Cem 2
be guilty of the offence and shal be Tieble to be proceeded aginst and penished
suid

Proved the mein cotsinal otis sub-aeton shill racer any sch pera
Tish tna pices peeved this Ac Phe proves ta olen: os ccna
iu his owed or thr bs enercisedall de digg la preven He cosion
fuck fen,

(2p Mocwaeandingsaything cootieinsleetion 1), tere a offence vee
tes Act asbeer commie 9 aatorandit proved dae ofa hat en cana
‘wih te conwit ox coutvance of, ori nba a, any roglact the part a an
dette, meres ure ofesrof te er ch direct, manager stem of
ster offic sl bo te deemed eo be gully the ono: amt hall be bible be
raced asst ane punished scanty,

splonation — Foe the poe of he sain, ark, elation toa fer
nea ay ocer ented wih te magemsataftic esr subtle fF
the er

quereRyn

26, The provisions of is Actsball have oi ce stig nh incositert
‘terowih conned in uy ter le firth lime blag oe oS ase hens
fect vine of wy aa Io

27. The provisions ofthis Actor he es ade ‘ero lal be a waton tan
‘ot in derogation ofthe Negstnse tstrumems At, IME, the Tranter of P-epecy
Act, 1482 the Rese rh of India Ast, 1934, the Backcg Regulation Al, 1H, te
Companies Act, 1956, the Securtsation and Reeonsustion of Banca Assets ad
afurcemert of Seuuy leet Act, 200, tke Mico, Small end Meare Laterpice
Developmze et, 2006 ur any attr aw reine being nce,

28, Wo alge aL uny receive lb elie co eke ny aise or reeoveny
‘tan ssp eile, trough ay coat or Tina uke his claim nese of he
‘eosiisle amide wii th pin of lutein spcitiad vederthe Lanftion A, 1963

29, Save as thence provided ia ht Ae, nears equrod oda why erder
fps ay ny Cour or Teulon oes shay ans apoio ast
foe ete Being foes ue fr the purass a restvery ofthe eoiabl, actor hall
‘maisuin conrad abl aetlalnis ony person informed by a,
yang, potent a He cutee ls commer Iss aes 2d
‘he fem of see bers he ussigna and ay bir amd other dal ue! the asia

ine
0 {THR GA7RTTEO INDIAEXTRAORDINARY Pag

11011 The Cenc Govorimantmay brace inthe public interest drt that
In ofthe provisions of is AG

{o) sali notappy to clas ot cases ofbunks ors sommpany ra het:

(bp sal apy tthe ech a clases of banks a comnpary ora ftar
swith such encaptons, madifuatlons an sdapsions as may be spied inthe
ota,

2) Acopyofevty mafemian ued onde substan (7), sale ald before ec
‘ure ofPorlect whilei in aeaio, for 8 otal period of ary days which iy be
comprised iene cmon orn noo ar successive sesions, nd lie te expiry of
{he session lime lowing the vtign ore succesve seaions aforesaid, bo
FHonsce age a aking any rodfeing inthe axeatin or bot the Howes agree tal
ibeootieaton hall ootbe moda, thenoication shall ave efit ely nub mndied
fora ar be of nfs, ns the ce ay br; 20, howeve, Tat ny such meeton oF
trata sl bo won prelude ote valid of ny previous dame under he
eden

31.2) The provisions of his sel ct aply to any assignment of enabler
sing ood rom Us wing vasa, nely—

(e) oy engi, autos of amalgamation of business ais or sale or
change i the owersip or egestas of be buses,

(Up irmnstions on ay ck exchange of commédlis exchange regulated by
the Secure. and Exchange Board of india consthued ude do rosions of he
evar and Exchange Board of Indie Ac, 17 ot by the Forward Mazkcts
Commission ubderthe Forward Cont (Reputin) Ae, 152, epee

(een vt govemed y eng arenes escptamscrhable owe!
‘the wemnaton of lotta mets

(e) freien enchaoge anentions except rosvabes in xy foreign eueney

(fatten pyen sytem, intor-ank payor epee oF clearance
sod selemen spear hss other nancial ges or aS,

bank depose:

(ga ete eed or indepen gurantee

rts a obits of ay ptson under te ow governing nese
Instruments, negfnbe warehouse recip wader the Wardousing(Developnon.
td Regulation) Act, 2009 oh natumens which ao Zoe ae eng by a oF
‘tor negate or any eercanaie dosnt nf tila goods;

{sta of gods series for any_ coronal fry or outed we;

@) aay assignment of Joan rosinables by 8 bank or woebanking Fini)
company fo mth kor nor Hanking neil company
(section ensues (tating xlgnment of rte to speak
puyese veils oct at we erries agin su recess, Rough fom
ring debtor arate group a ebro)

(2) Nexing utah At sal at highs na oigations of cons,
manuf, taro service rode under the provision of he Conaanes Protection
1 1986

‘32. () Tee Comal Goverunane may, ix comsliation with th Ressve Beak, By
sotfcaig and Ine leoconie Garete es define In clause (8) of wabsetia (of
tein at infeematin Techy At, 2000 rake ales framing cathe provisions
oft Ae

aso 982

stm.