Movable Property (Security Interest) Bill, 2015

Parliamentary Period: 
Fifth Session of the Eleventh Assembly

An Act to provide for the creation of security interests inmovable property so as to contribute to economic development; harmonise secured transaction laws; provide for harmonisation of conflict of laws in order to promote the financing of international trade and make security interests effective against third parties; enhance the availability of low-cost secured credit to allow debtors to use the full value inherent in their assets to support credit; establish a Collateral Office and Collateral Registry for a single comprehensive registration regime for secured transactions in movable property; establish streamlined procedures for obtaining security interests and reducing transaction costs by minimising formalities; ensure effectiveness of security agreements and enforceability of security agreements and interests; provide for perfection of security interests; to establish the determination of priority between security interests; and provide formatters connected with, or incidental to, the foregoing.

Bill Stage: 
First Reading
Second Reading
Committee Stage
Third Reading