Csp, 14:35
No.9mL7
MovesLE PnorsRTy Sncurury lxrnnusrs
Language af information in nortce
of the &btor andttre secured
credits or his or her rcp'rcsentative, the infcmation contained in a registered notice
15. Wittr the exception of the nafires and addresses
must be in English or other language as may be p'rescribed in regulations or any otber
law.
Timc of effectiveness of wgistration of notice
16. (l) The Collateral Registry must assign a unique registration number !o a
registered initial notice.
(2) The registation of an initial, amendment or cancellation rntice is effective
ftom the date and time when the information in the notice is entened into the records
of tlrc Collatsral Regrstry so as to be accessible to searchers.
(3) The Collateral Registry must enter infomration in a notice inn ia records
without delay after the notice is submitted ad in the order in which each notice was
zubmitted.
(4) The Collateral Registry must record the date and time when tlrc infmmation
in
a notice is entered into its records so as to be accessible to searchers.
Period oteffectiveness of registratbn of rctice
17. (l) The rcgistration of an initial notice is effective for the period of time
indicated by the registrant in tb designated field of the notice.
(2) The p€riod of effectiveness of the registration of an initial rptice may be
extended only within six months bdore its expiry by ttreregisuationof an amendment
notice that indicates in the designated field a new period.
{3) The period of effectiveness of the registation of an initial notice may be
extended more than once.
(4) The registration of an amendment noticeextends theperiodof effectiveness
period
indicated in the amendment notice beginning from the time the current
fc fte
period would have expired if ttp amendment notice had not been registered.
Obligation to send copy of registered notice
18. Nd latertbanfive working dap afterthe registrationof a notice, the Collateral
Regstry must send to the registrant a copy of the information in a registered notice,
indicating-
(a)
(b)
the date and time
wlpn the registration became effective; ard
the registration number.
Ane ndfirc nt oild c anc eI lat iqt notic e s
19. (1) Subject to subparagraph (2), the persou identified in a registered initial
notice as the securcd creditr may register an amendmentor cancellation rrctice relating
to that notice.
(2) Upon registration of an amendmpnt notice cbanging the person identified
in a registered initial notice as the secured creditor, only the person identified in the
amendment notice as the secured creditor may register an amendment or cancellation
notice.
(3)The registrationof an amendrrentorcancellationnotice is ineffective unless
authorised by the person identified in the registercd initial or ameudnpnt notice as the
secured creditor.
(4, An amendment notice must contain in the relevftnt
{a)
the registration number; and
161
designnted
field*
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