Exemption to Securitisation or Reconstruction Companies from RBI Act (Notification No.DNBS.3/CGM (OPA)- 2003 dated August 28, 2003)

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Exemption to Securitisation or Reconstruction Companies from RBI Act
(Notification No.DNBS.3/CGM (OPA)- 2003 dated August 28, 2003)

Reserve Bank of India
Department of Non-Banking Supervision
Central Office, Centre 1
World Trade Centre
Cuffe Parade, Colaba
Mumbai - 400 005
Notification No.DNBS.3/CGM (OPA)- 2003 dated August 28, 2003
Exemption to Securitisation or Reconstruction Companies from RBI Act

The Reserve Bank of India, on being satisfied that it is necessary so to do, in exercise of its powers conferred under Section 45NC of the Reserve Bank of India Act, 1934 (2 of 1934) hereby declares that the provisions of Sections 45-IA, 45-IB and 45-IC of the Reserve Bank of India Act, 1934 (2 of 1934) shall not apply to a non-banking financial company which is a securitisation company or reconstruction company registered with the Reserve Bank of India under Section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

Sd/-

(O.P.Aggarwal)
Chief General Manager-in-Charge