No.9l20l7
Mov*sln PnopEnry Sncunrrv Ixrrnrsrs
(2) Nothing in subpangraph (l) shall limit m affect any liability that
may incurunder any law other than this Act.
Cap. 14135
a
person
(3) In addition to the damages payable under subparagraphs (t) and (2), any
person who registers a notice without authorisation of the debtor shall be responsible
to pay to the debtor the statutory damages a$ may be prrescribed.
Recovery of payments made by obligor of receivable
28. The failure of
*
(a) the debtor; or
O) the ffansferor of the receivable in the case of an ouright transfer of a
contractual receivable ;
to perform the contact giving rise to a receivable does not entitle the obligor of
the receivable to recover from the secured creditor a sum paid by the obligc of the
receivable to the debtor or the securcd crediton
Rights as against financial institution that naintains deposit account
(I)
The creation of a security ints€st in a rigbt to payment of firnds creditd
to a deposit account does not affect the rights and obligations ofthe financial institttrion
at which that deposit account is maintained without ib consont, nor does it obtigate
the finarcial institution to pnrvide any inforrnation about that deposit account to third
29.
parties.
(2) Any rights of set-off that the financial institution rnay have are not affected
by any security interest that the financial institution rnay have in a right to payment of
funds crcdited to a deposit account maintained with the financial institution.
PART
V
Erwonmrmmr or SectrnrTy INTff€sr
Post-default rights
30. (l) After tlrc failure to pay or otlrerwise perform the secured obligation, the
debtor and the secured creditor are entitled to exercise-
(a)
(b)
(c)
anyrightunderthe provisions ofthis part; or
any right provided in the security agrcernent; or
any right provided under any other law, €xcept to the extent ir is
inconsistent with the provisions of this Act.
(2) The exercise of a postdefault right witb respect to the collateral does nor
prcvent the exercise of a posfdefault right with respect to the secured obligation, and
vice versa.
(3) The debtor and borrower may not waive unilaterally or vary by agreement
any ofhis or her rigbts under the provisions of this Part before default.
Enforcemcnt against attachnents to immovable prcperty
If an obligation is secured by both a movable and immovabre property of a
enforce(a) the security interest in the movable asset under the provisions on
31,
debto'r, the secured creditor may elect to
a security intsest in amovable asset and the encumb'rance
on the immovable property under tbe law governing enforcement of
enforcement-of
encumbrances on immovable property; or
r72
Select target paragraph3
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