Bare Act Search Results

Factoring Regulation Act, 2011, (Central) Section 7

Title: Assignment of Receivables

State: Central

Year: 2011

.....to the assignee any defences and right of set off that may be available to the debtor: Provided that if the debtor liable to pay the receivable or the business of factor is situated or established outside India, any assignment of receivable shall be subject to the provisions of the Foreign Exchange Management Act, 1999 (42 of 1999). (2) On execution of agreement in writing for assignment of receivables, all the rights, remedies and any security interest created over any property exclusively to secure the due payment of receivable shall vest in the assignee and the assignee shall have an absolute right to recover such receivable and exercise all the rights arid remedies of the assignor whether by way of damages or otherwise, or whether notice of assignment as provided in section 8 is given or not. (3) Any assignment of receivables which constitute security for repayment of any loan advanced by any Bank or other creditor and if the assignor has given notice of such encumbrance to the assignee, then on accepting assignment of such receivable, the assignee shall pay the consideration for such assignment to the Bank or the creditor, as the case may be.

Insurance Act, 1938 (4 of 1938) Section 38

Title: Assignment and Transfer of Insurance Policies

State: Central

Year: 1938

.....referred to in sub-section (2) are delivered. (4) Upon the receipt of the notice referred to in sub-section (2), the insurer shall record the fact of such transfer or assignment together with the date thereof and the name of the transferee or the assignee and shall, on the request of the person by whom the notice was given, or of the transferee or assignee, on payment of a fee not exceeding one rupee, grant a written acknowledgement of the receipt of such notice; and any such acknowledgement shall be conclusive evidence against the insurer that he has duly received the notice to which such acknowledgement relates. (5) 6 [Subject to the terms and conditions of the transfer or assignment, the insurer shall, from the date of receipt of the notice referred to in sub-section (2),] recognise the transferee or assignee named in the notice as the only person entitled to benefit under the policy, and such person shall be subject to all liabilities and equities to which the transferor or assignor was subject at the date of the transfer or assignment and may institute any proceedings in relation to the policy without obtaining the consent of the transferor or assignor or making him.....

Copyright Act, 1957 Section 18

Title: Assignment of Copyright

State: Central

Year: 1957

(1) The owner of the copyright in an existing work or the prospective owner of the copyright in a future work may assign to any person the copyright either wholly or partially and either generally or subject to limitations and either for the whole of the copyright or any part thereof: Provided that in the case of the assignment of copyright in any future work, the assignment shall take effect only when the work comes into existence. (2) Where the assignee of a copyright becomes entitled to any right comprised in the copyright, the assignee as respects the rights so assigned, and the assignor as respects the rights not assigned, shall be treated for the purposes of this Act as the owner of copyright and the provisions of this Act shall have effect accordingly. (3) In this section, the expression "assignee" as respects the assignment of the copyright in any future work includes the legal representatives of the assignee, if the assignee dies before the work comes into existence.

Karnataka Money-lenders Act, 1961 Section 30

Title: Notice and Information to Be Given on Assignment of Loan

State: Karnataka

Year: 1961

(1) Where a loan advanced, whether before or after the date on which this Act comes into force, or any interest on such loan or the benefit of any agreement made or security taken in respect of such loan or interest, is assigned to any assignee, the assignor (whether he is the money-lender by whom the money was lent or any person to whom the debt has been previously assigned) shall, before the assignment is made,-- (a) give the assignee notice in writing that the loan, interest, agreement or security is affected by the operation of this Act; (b) supply to the assignee all information necessary to enable him to comply with the provisions of this Act; and (c) give the debtor notice in writing of the assignment supplying the name and address of the assignee. (2) Any person acting in contravention of the provisions of sub-section (1) shall be liable to indemnify any other person who is prejudiced by the contravention.

HIRE-PURCHASE ACT, 1972 [REPEALED] Section 12

Title: Assignment and transmission of hirer's right or interest under hire-purchase agreement

State: Central

Year: 1972

.....the hire-purchase agreement during the residue of the term thereof and whereby the assignee indemnifies the hirer in respect of such liabilities. (5) The right, title and interest of a hirer under a hire-purchase agreement shall be capable of passing by operation of law to the legal representative of the hirer but nothing in this sub-section shall relieve the legal representative from compliance with. the provisions of the hire-purchase agreement. Explanation--In this sub-section, the expression "legal representative" has the same mean ing as in clause (11) of section 2 of the Code of Civil Procedure, 1908 (5 of 1908). " (6) The provisions of this section shall apply notwithstanding anything to the contrary contained in the hire-purchase agreement.

Bombay Money-lenders Act, 1946, (Maharashtra) Section 27

Title: Notice and Information to Be Given on Assignment of Loans

State: Maharashtra

Year: 1946

(1) Where a loan advanced, whether before or after the date on which this Act comes into force, or any interest of such loan or the benefit of any agreement made or security taken in respect of such loan or interest is assigned to any assignee, the assignor (whether he is the money-lender by whom the money was lent or any person to whom the debt has been previously assigned) shall, before the assignment is made- (a) give the assigned notice in writing that the loan, interest, agreement or security is affected by the operation of this Act; (b) supply to the assignee all information necessary to enable him to comply with the provisions of this Act; and (c) give the debtor notice in writing of the assignment supplying the name and address of the assignee. (2) Any person acting in contravention of the provisions of sub-section (1) shall be liable to indemnify any other person who is prejudiced by the contravention.

Karnataka Money-lenders Act, 1961 Section 31

Title: Application of Act as Respects Assignees

State: Karnataka

Year: 1961

(1) Save as hereinafter provided, where any debt due to a money-lender in respect of money lent by him whether before or after the date on which this Act comes into force, or of interest on money so lent or of the benefit of any agreement made or security taken in respect of any such debt or interest, has been assigned, the assignee shall be deemed to be the money-lender and all the provisions of this Act shall apply to such assignee as if he were the money-lender, (2) Notwithstanding anything contained in this Act or in any other law for the time being in force, where for any reason any such assignment is invalid and the debtor has made any payment of money or transfer of property on account of any loan which has been so assigned, the assignee shall in respect of such payment or transfer be deemed to be the agent of the money-lender for all the purposes of this Act.

Bombay Money-lenders Act, 1946, (Maharashtra) Section 28

Title: Application of Act as Respects Assignees

State: Maharashtra

Year: 1946

(1) Save as hereinafter provided, where any debt due to a money-lender in respect of money lent by him whether before or after the date on which this Act comes into force or of interest on money so lent or of the benefit of any agreement made or security taken in respect of any such debt or interest, has been assigned, the assignee shall be deemed to be the moneylender and all the provisions of this Act shall apply to such assignee as if he were the money-lender. (2) Notwithstanding anything contained in this Act or in any other law for the time being in force, where for any reason any such assignment is invalid and the debtor has made any payment of money or transfer of property on account of any loan which has been so assigned, the assignee shall in respect of such payment or transfer be deemed to be the agent of the money-lender for all the purposes of this Act.

The Kerala Government Land Assignment Act, 1960 Complete Act

State: Kerala

Year: 1960

THE KERALA GOVERNMENT LAND ASSIGNMENT ACT, 1960 Act 30 Of 1960 THE KERALA GOVERNMENT LAND ASSIGNMENT ACT, 1960 An Act to provide for the assignment of Government lands Preamble.- WHEREAS it is expedient to regulate the assignment of Government lands and to remove doubts as the validity of the limitations and restrictions imposed in assignments of land by the Government or under their authority; BE it enacted in the Eleventh Year of the Republic of India as follows:- 1 Short title, extent and commencement.- (1) This Act may be called the Kerala Government Land Assignment Act, 1960. (2) It extends to the whole of the State of Kerala (3) It shall come into force at once. 2 Definitions.- (1) The following, that it to say- all public roads, streets, lanes and paths, the bridges, ditches dykes and fences on or beside the same; the bed of the sea and of harbours and creeks below high watermark, the beds and banks of rivers, streams, irrigation and drainage channels; all canals, tanks, lakes, back-waters and water courses; all land wherever situated, save in so far as the same are the property of- (a) jenmis or holders of Inams; or (b) holders of land in any way subject to the.....

Factoring Regulation Act, 2011, (Central) Section 9

Title: Discharge of Liability of Debtor on Payment to Assignee

State: Central

Year: 2011

Where a notice of assignment of receivable is given by the assignor or the assignee, as the case may be, under section 8 the debtor on receipt of such notice, shall make payment to the assignee and payment made to such assignee in discharge of any obligation in relation to the receivables specified in the notice shall fully discharge the debtor making the payment, from corresponding liability in respect of such payment.