https://www.taxtmi.com/article/detailed?id=5989 The Act creates a statutory regime for assignment of receivables: registration of factors with the central bank is required; assignments must be in writing and vest all rights and security interests in the assignee; notice of assignment to the debtor is mandatory before the assignee may demand payment; debtors may assert all defences and set-offs against the assignee; factors must register assignments at the Central Registry and permit public inspection; special protections apply to micro and small enterprise receivables, and penal provisions cover registration defaults and other contraventions. en-us Mon, 05 Jan 2015 09:53:21 +0530 Mon, 05 Jan 2015 09:53:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5989 The Act creates a statutory regime for assignment of receivables: registration of factors with the central bank is required; assignments must be in writing and vest all rights and security interests in the assignee; notice of assignment to the debtor is mandatory before the assignee may demand payment; debtors may assert all defences and set-offs against the assignee; factors must register assignments at the Central Registry and permit public inspection; special protections apply to micro and small enterprise receivables, and penal provisions cover registration defaults and other contraventions. Articles Other Topics Mon, 05 Jan 2015 09:53:21 +0530 https://www.taxtmi.com/article/detailed?id=5989