The franchisor shall, within six months from the end of each financial year of the franchise business, submit a report to the Registrar in the prescribed form.
franchisor
“franchisor” means a person who grants a franchise to a franchisee and includes a master franchisee with regard to his relationship with a subfranchisee, unless stated otherwise in this Act;
The report shall contain the disclosure documents which have been updated.
disclosure documents
“disclosure documents” means such disclosure documents as may be prescribed by the Minister;
The Registrar may review the report and disclosure documents and—
Registrar
“Registrar”, “Deputy Registrar” and “Assistant Registrar” mean respectively the Registrar of Franchises, a Deputy Registrar of Franchises and an Assistant Registrar of Franchises appointed under section 5;
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franchise
“franchise” means a contract or an agreement, either expressed or implied, whether oral or written, between two or more persons by which— Franchise 9 (a) the franchisor grants to the franchisee the right to operate a business according to the franchise system as determined by the franchisor during a term to be determined by the franchisor; (b) the franchisor grants to the franchisee the right to use a mark, or a trade secret, or any confidential information or intellectual property, owned by the franchisor or relating to the franchisor, and includes a situation where the franchisor, who is the registered user of, or is licensed by another person to use, any intellectual property, grants such right that he possesses to permit the franchisee to use the intellectual property; (c) the franchisor possesses the right to administer continuous control during the franchise term over the franchisee’s business operations in accordance with the franchise system; and (d). (e) in return for the grant of rights, the franchisee may be required to pay a fee or other form of consideration. (f).
notify the franchisor if any additional information or modification of the disclosure documents is to be included or deleted; or
issue an order to suspend, terminate or cancel the approval of the registration of the franchise in the public interest or for the purpose of protecting prospective franchisees until any deficiencies specified by the
Registrar have been corrected.
Any person who fails to comply with this section commits an offence.
person
“person” includes a natural person, corporation, partnership, association, firm, joint venture or trust;