Act Number: 12

Act Name: The Factoring Regulation Act, 2011

Year: 2012

Enactment Date: 2012-01-22

Long Title: 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.

Ministry: Ministry of Finance

Department: Department of Financial Services

Section 8: Notice to debtor and discharge of obligation of such debtor.
    Any assignee of a receivable shall not be entitled to demand payment of the receivable from the debtor in respect of such receivables unless notice of such assignment is given to the debtor by the assignor or the assignee along with express authority in its favors granted by the assignor.
Previous Section Next Section
Scroll to Top