Laws and Bare Acts of India at MyNation.net

MyNation Foundation Online Law Library

Section 22 – Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002

Section 22. Register of securitisation, reconstruction and security interest transactions

(1) For the purposes of this Act, a record called the Central Register shall be kept at the head office of the Central Registry for entering the particulars of the transactions relating to—

(a) securitisation of financial assets;

(b) reconstruction of financial assets; and

(c) creation of security interest.

(2) Notwithstanding anything contained in sub-section (1), it shall be lawful for the Central Registrar to keep the records wholly or partly in computer, floppies, diskettes or in any other electronic form subject to such safeguards as may be prescribed.

(3) Where such register is maintained wholly or partly in computer, floppies, diskettes or in any other electronic form, under sub-section (2), any reference in this Act to entry in the Central Register shall be construed as a reference to any entry as maintained in computer or in any other electronic form.

(4) The register shall be kept under the control and management of the Central Registrar.

Previous | Next

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002

Indian Laws – Bare Acts

MyNation

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2021 Laws and Bare Acts of India at MyNation.net
×

Free Legal Help, Just WhatsApp Away

MyNation HELP line

We are Not Lawyers, but No Lawyer will give you Advice like We do

Please read Group Rules – CLICK HERE, If You agree then Please Register CLICK HERE and after registration  JOIN WELCOME GROUP HERE

We handle Women Centric biased laws like False Section 498A IPC, Domestic Violence(DV ACT), Divorce, Maintenance, Alimony, Child Custody, HMA 24, 125 CrPc, 307, 312, 313, 323, 354, 376, 377, 406, 420, 497, 506, 509; TEP, RTI and many more…

MyNation FoundationMyNation FoundationMyNation Foundation