Issue of Fresh
Registration Certificate in the name of Financier
Section 51(5) of MV ACT:
Where the person whose
name has been specified in the certificate of registration as the person with
whom the registered owner has entered into the said agreement, satisfies the
registering authority that he has taken possession of the vehicle [from the
registered owner] owing to the default of the registered owner under the
provisions of the said agreement and that the registered owner under the provisions
of the said agreement and that the registered owner refuses to deliver the
certificate of registration or has absconded, such authority may, after giving
the registered owner an opportunity to make such representation as he may wish
to make (by sending to him a notice by registered post acknowledgement due at
his address entered in the certificate of registration)and notwithstanding that
the certificate of registration in the name of the person with whom the
registered owner has entered into the said agreement:
Provided that a fresh
certificate of registration shall not be issued in respect of a motor vehicle,
unless such person pays the prescribed fee:
Provided further that a
fresh certificate of registration issued in respect of a motor vehicle, other than
a transport vehicle, shall be valid only for the remaining period for which the
certificate cancelled under this sub-section would have been in force.
