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Start Free TrialFactoring Regulation Act, 2011, (Central) Section 17
Title: Modification of Original Contract
State: Central
Year: 2011
(1) Any agreement made before service of notice, under section 8, of the assignment of a receivable between the assignor and the debtor that affects the assignee's rights in respect of that receivable shall be effective as against the assignee, and the assignee shall acquire rights in the assigned receivables, as modified by such agreement. (2) Any agreement made, after notice of the assignment between the assignor and the debtor that affects the assignee's rights, shall be ineffective as against the assignee unless, (a) the assignee consents to it; or (b) the receivable is not fully earned by performance and either the modification is provided for in the original contract or, in the context of the original contract, a -reasonable assignee would consent to the modification, (3) Nothing contained in sub-sections (1) and (2) shall affect any right of the assignor or the assignee arising from breach of an agreement between them.
View Complete Act List Judgments citing this sectionFinance Act, 2011, (Central) Section 58
Title: Amendment of Section 9a
State: Central
Year: 2011
In section 9A of the Customs Tariff Act, after sub-section (1), the following sub-section shall be inserted, namely:- "(1A) Where the Central Government, on such inquiry as it may consider necessary, is of the opinion that circumvention of anti-dumping duty imposed under sub-section (1) has taken place, either by altering the description or name or composition of the article subject to such anti-dumping duty or by import of such article in an unassembled or disassembled form or by changing the country of its origin or export or far any other manner, whereby the anti dumping duty so imposed is rendered ineffective, it may extend the antidumping duty to such article or an article originating in or exported from such country, as the case may be."
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