(2)Every statement in respect of a transaction referred to in sub-section (1) shall-(a)be in the prescribed form;(b)set forth such particulars as may be prescribed; and(c)be verified in the prescribed manner, and registered with the competent authority, in such manner and within such time as may be prescribed, by each of the parties to such transaction or by any of the parties of such transaction acting on behalf of himself and on behalf of the other parties.]
