Section 40

Power to remove difficulties.

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

Act 54 of 2002
Ministry of Finance
Department of Financial Services

About this Act

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.

All sections

    (1) If any difficulty arises in giving effect to the provisions of this Act, the Central Government may, by order published in the Official Gazette, make such provisions not inconsistent with the provisions of this Act as may appear to be necessary for removing the difficulty:
     Provided that no order shall be made under this section after the expiry of a period of two years from the commencement of this Act.
     (2) Every order made under this section shall be laid, as soon as may be after it is made, before each House of Parliament.