(1) The Central Government may, by notification, set up or cause to be set up from such date as it may specify in such notification, a registry to be known as the Central Registry with its own seal for the purposes of registration of transaction of securitisation and reconstruction of financial assets and creation of security interest under this Act.

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(2) The head office of the Central Registry shall be at such place as the Central Government may specify and for the purpose of facilitating registration of transactions referred to in sub-section (1), there may be established at such other places as the Central Government may think fit, branch offices of the Central Registry.

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(3) The Central Government may, by notification, define the territorial limits within which an office of the Central Registry may exercise its functions.

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(4) The provisions of this Act pertaining to the Central Registry shall be in addition to and not in derogation of any of the provisions contained in the Registration Act, 1908 (16 of 1908), the Companies Act, 1956 (1 of 1956), the Merchant Shipping Act, 1958 (44 of 1958), the Patents Act, 1970 (39 of 1970), the Motor Vehicles Act, 1988 (49 of 1988), and the Designs Act, 2000 (16 of 2000) or any other law requiring registration of charges and shall not affect the priority of charges or validity thereof under those Acts or laws.

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(1) The Central Government may, by notification and in the Electronic Gazette as defined in clause (s) of section 2 of the Information Technology Act, 2000 (21 of 2000), make rules for carrying out the provisions of this Act.

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(2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:--

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¹[(a) other business or commercial rights of similar nature under clause (t) of section 2;]

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²[(aa)] the form and manner in which an application may be filed under sub-section (10) of section 13;

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(b) the manner in which the rights of a secured creditor may be exercised by one or more of his officers under sub-section (12) of section 13;

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³[(ba) the fee for making an application to the Debts Recovery Tribunal under sub-section (1) of section 17;

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(bb) the form of making an application to the Appellate Tribunal under sub-section (6) of section 17;

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(bc) the fee for preferring an appeal to the Appellate Tribunal under sub-section (1) of section 18;]

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¹[(bca) the manner of integration of records of various registration systems with the records of Central Registry under sub-section (1) of section 20A;

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(bcb) the terms and conditions of delegation of powers by the Central Government to the Reserve Bank under section 20B;]

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(c) the safeguards subject to which the records may be kept under sub-section (2) of section 22;

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(d) the manner in which the particulars of every transaction of securitisation shall be filed under section 23 and fee for filing such transaction;

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¹[(da) the form for registration of different types of security interests and fee thereof under sub-section (3) of section 23;]

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(e) the fee for inspecting the particulars of transactions kept under section 22 and entered in the Central Register under sub-section (1) of section 26;

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(f) the fee for inspecting the Central Register maintained in electronic form under sub-section (2) of section 26;

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¹[(fa) the form and the manner for filing particulars of transactions under sub-section (2) of section 26B;

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(fb) the form and manner of filing attachment orders with the Central Registry and the date under sub-section (4) of section 26B;

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(fc) the form and manner of filing particulars of attachment order with the Central Registry and the fee under sub-section (5) of section 26B;]

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(g) any other matter which is required to be, or may be, prescribed, in respect of which provision is to be, or may be, made by rules.

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(3) Every rule made under this Act shall be laid, as soon as may be after it is made, before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the rule or both Houses agree that the rule should not be made, the rule shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule.

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