Section 5, International Financial Services Centers Authority Act, 2019 [S29-CBP]

As at 7 September 2026. In force from 7 May 2020 by S.O. 120(E) [N12-KAS].

In International Financial Services Centers Authority Act, 2019 [A11-PEH]. This text from 7 May 2020. No other text held.

Synthetic. The words of this section are generated by the register; the title, number and year of the Act are real.

Cite: Section 5, International Financial Services Centers Authority Act, 2019 [S29-CBP]. Machine: S29-CBP.

5. Prohibition of the enforcement of security interest without licence.—No person shall undertake the enforcement of security interest except under and in accordance with the conditions of a licence granted under section 6: Provided that nothing in this section shall apply to the enforcement of security interest undertaken by or on behalf of the Central Government or a State Government.

Defined terms in this text (1)

security interest: Section 2, International Financial Services Centers Authority Act, 2019 [S29C8G] (In this Act, unless the context otherwise requires,—): "security interest" means right, title or interest of any kind upon property created in favour of a secured creditor

security interest: 17 more definitions.

Made under this section, or naming it (0)

none

Cited by (1)

Section 38, International Financial Services Centers Authority Act, 2019 [S29-DCW], 28 July 2019, Band A. "section 5".

Not held (0)

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Duties published under this section (0)

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