Introduction:

1. According to the provision, the Central Government has the authority to establish a registry known as the Central Registry through a notification, specifying the commencement date.
2. This registry, equipped with its seal, serves the purpose of registering transactions related to securitization, the reconstruction of financial assets, and the creation of security interests under the SARFAESI Act.
3. The principal workplace of the principal Registry might be located at a delegated area determined via the critical government.
4. Moreover, to facilitate the registration of transactions mentioned in subsection (1), department places of work can be installed at locations deemed suitable by the crucial authorities.
5. The territorial limits within which an office of the Central Registry can operate may be defined by the Central Government through a notification.
6. it's crucial to note that the provisions mentioned inside the SARFAESI Act concerning the vital Registry are supplementary and do not override any provisions inside the Registration Act, 1908, the Organizations Act, 1956, the Service Provider Delivery Act, 1958, the Patents Act, 1970, the Motor cars Act, 1988, the Designs Act, 2000, or any other regulation requiring the registration of expenses.
7. Furthermore, these provisions no longer affect the priority or validity of fees underneath the Acts or legal guidelines.