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Chapter 2 of The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (Act No. 54) View all Acts

Regulation Of Securitisation And Reconstruction Of Financial Assets Of Banks And Financial Institutions
2 (II)

Act Details View Act

The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
54
17-12-2002
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
An Act to regulate securitisation and reconstruction of financial assets and enforcement of security interest and to provide for a Central database of security interests created on property rights, and for matters connected therewith or incidental thereto.
Ministry of Finance
Department of Financial Services

Sections from Chapter 2 of The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (Act No. 54)

3 - Registration of asset reconstruction companies.
4 - Cancellation of certificate of registration.
5 - Acquisition of rights or interest in financial assets.
5A - Transfer of pending applications to any one of Debts Recovery Tribunals in certain cases.
6 - Notice to obligor and discharge of obligation of such obligor.
7 - Issue of security by raising of receipts or funds by asset reconstruction company.
8 - Exemption from registration of security receipt.
9 - Measures for assets reconstruction.
10 - Other functions of asset reconstruction company.
11 - Resolution of disputes.
12 - Power of Reserve Bank to determine policy and issue directions.
12A - Power of Reserve Bank to call for statements and information.
12B - Power of Reserve Bank to carry out audit and inspection.
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