This notification, issued by the Ministry of Finance's Department of Financial Services on May 21, 2018, and published in the Gazette of India as G.S.R. 469(E), amends the Registration of Assignment of Receivables Rules, 2012. Specifically, it revises rule 6 regarding fees for registering assignment of receivables. The amendment substitutes the existing table with a new table specifying the following fee structure:
* **Form I (Particulars of assignment of receivables):** Rupees ten for assignment of receivables of less than rupees five lakhs and rupees one hundred for assignment of receivables of rupees five lakhs and above.
* **Form II (Satisfaction of registration on realization of receivables):** Nil.
* **Any application for information recorded or maintained in the register by any person:** Rupees ten.
* **Any application for condonation of delay up to thirty days:** Ten times of the basic fee, as applicable.
The notification is issued in exercise of the powers conferred by sections 19 and 20 read with clauses a, b and c, of subsection 2 of section 32 of the Factoring Regulation Act, 2011 (12 of 2012). For further information, contact Vandita Kaul, Joint Secretary, F.No. 54302017-DRT. The principal rules were originally published under G.S.R. 281(E) on April 2, 2012.
Key Entities Referenced
Ministry of Finance: The ministry responsible for financial matters in the Government of India.
Factoring Regulation Act, 2011: An act of the Indian Parliament regulating factoring, which is a financial transaction where a business sells its accounts receivable to a third party (factor) at a discount.
Registration of Assignment of Receivables Rules, 2012: Rules pertaining to the registration of assignment of receivables, as per the Factoring Regulation Act.
New Delhi: The location where the notification was issued. New Delhi, NCT, India
Central Government: The executive authority of the Union of India.
G.S.R. 469 E: A notification number under the General Statutory Rules (G.S.R.) of India.
Vandita Kaul: The Joint Secretary who issued the notification.
Mayapuri, New Delhi: A location in Delhi where the printing of the document occurred
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कोई आवेदन
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[फा. स.ं 54/30/2017-डीआरटी]
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2012 "ारा #कािशत (cid:4)कए गए थ।े
MINISTRY OF FINANCE
(Department of Financial Services)
NOTIFICATION
New Delhi, the 21st May, 2018
G.S.R. 469 (E).– In exercise of the powers conferred by sections 19 and 20 read with clauses (a), (b) and (c), of
sub-section (2) of section 32 of the Factoring Regulation Act, 2011 (12 of 2012), the Central Government hereby makes
the following rules to amend the Registration of Assignment of Receivables Rules, 2012, namely :-
2. In the Registration of Assignment of Receivables Rules, 2012, in rule 6, for the Table, the following Table shall be
substituted, namely.-
‘‘TABLE
Serial Nature of transaction to Form Number Amount of fee payable
Number be registered
(1) (2) (3) (4)
1. Particulars of assignment Form I Rupees ten for assignment of receivables
of receivables. of less than rupees five lakhs and rupees
one hundred for assignment of receivables
of rupees five lakhs and above.
2. Satisfaction of registration on Form II Nil.
realisation of receivables.
3. Any application for information Rupees ten.
recorded or maintained in the
register by any person. -------
4. Any application for condonation of Ten times of the basic fee, as applicable.”.
delayupto thirty days. -------
[F.No. 54/30/2017-DRT]
VANDITA KAUL, Jt. Secy.
Note: The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide
number G.S.R. 281 (E), dated the 2nd April, 2012.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.