{"id":253093,"date":"2021-08-21T17:30:21","date_gmt":"2021-08-21T12:00:21","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=253093"},"modified":"2021-08-21T16:41:51","modified_gmt":"2021-08-21T11:11:51","slug":"factoring-regulation-amendment-act-2021-comes-into-force-on-august-23-2021","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/21\/factoring-regulation-amendment-act-2021-comes-into-force-on-august-23-2021\/","title":{"rendered":"Factoring Regulation (Amendment) Act, 2021 comes into force on August 23, 2021"},"content":{"rendered":"<p style=\"text-align: justify;\">The Ministry of Law and Justice has appointed the 23rd day of August, 2021, as the date on which the provisions of the Factoring Regulation (Amendment) Act, 2021 shall come into force vide notification dated August 19, 2021. The Parliament has enacted the Factoring Regulation (Amendment) Act, 2021 on August 7, 2021. Key highlights of the Amendment are:<\/p>\n<ul style=\"text-align: justify;\">\n<li>It states that every factor shall register the particulars of every transaction of assignment of receivables in his favor with the Central Registry set-up the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.<\/li>\n<li>The Reserve Bank may, by notification, make regulations consistent with this Act to carry out the provisions of this Act.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">\n<hr \/>\n<p><span style=\"color: #000080;\">*Tanvi Singh, Editorial Assistant has reported this brief.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Ministry of Law and Justice has appointed the 23rd day of August, 2021, as the date on which the provisions of <\/p>\n","protected":false},"author":121,"featured_media":253058,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,13],"tags":[],"class_list":["post-253093","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-statutes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Factoring Regulation (Amendment) Act, 2021 comes into force on August 23, 2021 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/21\/factoring-regulation-amendment-act-2021-comes-into-force-on-august-23-2021\/\" \/>\n<meta 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Key changes enacted by the amendment are: The amendment states that every factor shall register the particulars of every transaction of assignment of receivables in his favor with the Central Registry\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/PARLIAMENT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/PARLIAMENT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/PARLIAMENT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/PARLIAMENT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/PARLIAMENT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":253446,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/31\/general-insurance-business-nationalisation-amendment-act-2021-comes-into-force-w-e-f-august-27-2021\/","url_meta":{"origin":253093,"position":1},"title":"General Insurance Business (Nationalisation) Amendment Act, 2021 comes into force w.e.f August 27, 2021","author":"Bhumika Indulia","date":"August 31, 2021","format":false,"excerpt":"On August 27, 2021, the Ministry of Finance has issued the notification regarding enforcement date for the provisions of the General Insurance Business (Nationalisation) Amendment Act, 2021 which shall come into force on August 27, 2021. 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During this Session a total of 20 Bills (17 in Lok Sabha and 03 in Rajya Sabha) were introduced. 18 Bills were passed by Lok Sabha and 19 Bills were passed\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/MicrosoftTeams-image-65.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/MicrosoftTeams-image-65.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/MicrosoftTeams-image-65.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/MicrosoftTeams-image-65.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/MicrosoftTeams-image-65.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":257606,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/11\/23\/delhi-government-notifies-commencement-date-of-certain-provisions-of-dgstamendment-act-2021\/","url_meta":{"origin":253093,"position":3},"title":"Delhi Government notifies commencement date of certain provisions of DGST(Amendment) Act, 2021","author":"Bhumika Indulia","date":"November 23, 2021","format":false,"excerpt":"The Finance Department (Delhi) on November 18, 2021 has issued a notification to provide the date of commencement for certain provisions of Section 13 and 14 of Delhi Goods and Services Tax (Amendment) Act, 2021. The Delhi Government has decided August 01, 2021 as the commencement date of the provisions\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/03\/GST.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/03\/GST.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/03\/GST.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/03\/GST.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2018\/03\/GST.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":259294,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/12\/30\/legislation-year-end-round-up-2021\/","url_meta":{"origin":253093,"position":4},"title":"Legislation Year End Round-Up 2021","author":"Bhumika Indulia","date":"December 30, 2021","format":false,"excerpt":"Here is the quick recap of all important legislation's of the year 2021","rel":"","context":"In &quot;Legal RoundUp&quot;","block_context":{"text":"Legal RoundUp","link":"https:\/\/www.scconline.com\/blog\/post\/category\/columns-for-roundup\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/12\/MicrosoftTeams-image-201.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/12\/MicrosoftTeams-image-201.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/12\/MicrosoftTeams-image-201.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/12\/MicrosoftTeams-image-201.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/12\/MicrosoftTeams-image-201.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":253052,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/21\/constitution-one-hundred-and-fifth-amendment-act-2021-receives-presidents-assent-empowering-states-to-identify-sebcs\/","url_meta":{"origin":253093,"position":5},"title":"Constitution (One Hundred and Fifth Amendment) Act, 2021 receives President&#8217;s assent empowering States to identify SEBCs","author":"Bhumika Indulia","date":"August 21, 2021","format":false,"excerpt":"Constitution (One Hundred and Fifth Amendment) Act, 2021 receives President's assent on August 20, 2021. 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