22.
Register of securitisation, reconstruction and
security interest transactions.- (1)
For the purposes of this Act, a record called
the Central Register shall be kept at the head
office of the Central Registry for entering
the particulars of the transactions relating
to-
(a) securitisation of financial
assets;
(b) reconstruction of financial
assets; and
(c) creation of security interest.
(2) Notwithstanding anything
contained in sub-section (1), it shall be lawful
for the Central Registrar to keep the records
wholly or partly in computer, floppies, diskettes
or in any other electronic form subject to such
safeguards as may be prescribed.
(3) Where such register is
maintained wholly or partly in computer, floppies,
diskettes or in any other electronic form, under
sub-section (2), any reference in this Act to
entry in the Central Register shall be construed
as a reference to any entry as maintained in
computer or in any other electronic form.
(4) The register shall be
kept under the control and management of the
Central Registrar.
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