law: Factoring Regulation Act, 2011 
  5. Recruitment for
  
  registration as a factor not to apply to bank or Statutory corporation or
  
  Government company.-
  Nothing contained in
  
  section 3 shall apply to a bank or any corporation established under an Act of
  
  Parliament or State Legislature, or a Government Company as defined under
  
  section 617 of the Companies Act, 1956 (1 of 1956).