Section 14:
Liability of debtor in case of an assignor being mircro or small enterprises.
(1) If the
assignor of receivables is a micro or small enterprise, the liability of the debtor to make payment due on
assigned receivables shall be subject to the provisions contained in sections 15 to 17 of the Micro, Small
and Medium Enterprises Development Act, 2006 (27 of 2006) with regards to the delayed payments of
the receivables.
(2) In the event of delay in payment on the part of the debtor to pay the receivable of any micro or
small enterprise, the assignee shall be entitled to receive interest for the delayed period and shall take
steps under the provisions of the Micro, Small and Medium Enterprises Development Act, 2006
(27 of 2006) for the purpose of the recovery of the interest and shall pay such interest to the micro or
small enterprise.