Section 4
Provisions of non-banking financial companies apply to factor.
The Factoring Regulation Act, 2011
About this Act
An Act to provide for and regulate assignment of receivables by making provision for registration there for and rights and obligations of parties to contract for assignment of receivables and for matters connected therewith or incidental thereto.
All provisions of Chapter
IIIB of the Reserve Bank of India Act, 1934 (2 of 1934) relating to non-banking financial companies
which have been granted a certificate of registration under sub-section (5) of section 45-IA of the Reserve
Bank of India Act, 1934 shall (except those specifically provided for under this Act) mutatis mutandis
apply to a factor which has been granted a certificate of registration under section 3.