The International Financial Services Centres Authority (IFSCA) on August 30, 2024, issued a consultation paper to seek comments/views/suggestions on the Draft International Financial Services Authority (Registration of Factors and Registration of Assignment of Receivables) Regulations, 2024.
The following has been stated: -
•These regulations aim to provide for the manner of:
1. Granting certificate of registration to Factors; and
2. Filing of particulars of transactions with the Central Registry on behalf of the Factors under sub-section (1A) of section 19 of the Factoring Regulation Act, 2011.
•Chapter – II specifies the registration of factors.
•Chapter III specifies the registration of receivables assignments.
•The general public and stakeholders are requested to forward their comments/suggestions on or before September 20, 2024.
The detailed regulations are given in the document below.
