Section 5
Requirement for registration as a factor not to apply to bank or Statutory corporation or Government company.
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.
Nothing contained in section 3 shall apply to a bank or any corporation
established under an Act of Parliament or State Legislature, or a Government Company as defined under
section 617 of the Companies Act, 1956 (1 of 1956).