The Movable Property (Security Interest)

Act Number: 
No.3 of 2016

Date of Assent: 5th April, 2016

An Act to provide for the creation of security interests in movable property so as to contribute to economic development; harmonise securedtransactionlaws;provideforharmonisationof 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 for matters connected with, or incidental to, the foregoing.

ENACTED by the Parliament of Zambia 

Acts of Parliament (Post 1997)