A Bill for an Act to Regulate Factoring, Purchase of Receivables, as well as Establishment, Operation and Control of Operation of Business Organisations Engaged in Factoring and Receivables Financing, to Establish Principles and to Adopt Rules Relating to the Assignment of Receivables in order to Create Certainty and Transparency and to Promote the Modernisation of the Law Relating to Assignments Whilst Protecting Existing Assignment Practices and Facilitating the Development of New Practices and Ensuring Adequate Protection for the Interests of Debtors in order to Promote the Availability of Capital and Credit And to Facilitate Domestic and International Trade and for Related Matters

Abstract

This Bill seeks for legislation that will govern and regulate factoring, purchase of receivables financing operations, as well as establishment, operation and control of operation of business organisations engaged in those activities other than banks.