Which of the following statements is correct under Section 1 of the SARFAESI Act, 2002?
Under s.1(3) SARFAESI Act, 2002, the Act is deemed to have come into force on 21 June 2002, a commencement date fixed by the statute itself, not automatically upon…
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Which of the following statements is correct under Section 1 of the SARFAESI Act, 2002?
Answer and explanation
Correct answer B
Under s.1(3) SARFAESI Act, 2002, the Act is deemed to have come into force on 21 June 2002, a commencement date fixed by the statute itself, not automatically upon enactment, by a Reserve Bank of India notification, and the Act does contain its own commencement provision.