SARFAESI Central Registry Rules to include transactions which subsisted before setting-up of Central Registry

SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST (CENTRAL REGISTRY) (AMENDMENT) RULES, 2013 - AMENDMENT IN RULES 2, 5 AND 7

NOTIFICATION NO. GSR 310(E) [F.NO.1/1/2013-RECOVERY], DATED 15-5-2013

In exercise of the powers conferred by sub-section (1) and clauses (c) to (g) of sub-section (2) of section 38 read with section 20 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), the Central Government hereby makes the following rules to amend the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Central Registry) Rules, 2011,namely:-

1. (1) These rules may be called the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Central Registry) (Amendment) Rules, 2013.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Central Registry) Rules, 2011 (herein after referred to as the principal rules), in rule 2, in sub-rule (1), in clause (e), after the words "any security interest over property" occurring at the end, the words "and includes the transactions which subsisted before the date of setting up of the Central Registry under sub-section (1) of Section 20 of the Act" shall be inserted.

3. (i) in rule (5) of the principal rules, for sub-rule (1), the following sub-rule shall be substituted, namely:-

"(1) The particulars of every transaction referred to in sub-rule (1) of rule 3 shall be filed with the Central Registrar within a period of thirty days from the date of such transaction:

Provided that particulars of all subsisting transactions shall be filed by the secured creditors with the Central Registry on or before the 30th June and no fee shall be payable on such filing till the said date:

Provided further that all subsisting transactions filed with the Central Registry after the said date shall be chargeable with such fee as specified in the Table under rule 7.";

(ii) in rule (7) of the principal rules, in the Table -