Ns.9l20l7
Cap, 14:35
Movtsr-e Pnopnnrv Srcunmy lnmrnnsrs
(b)
the information to be added or othennrise modified.
(5) An amendment noice may relate to one or morc than one item of infmrration
in a registeted notice.
(6) A cancellation notice must contaia in
number to u,hich the cancellation relates,
th
designated
feld the registration
(7) When a notice of any security interest is or has been registered in favour
trustee
ofa
in his or her capacity as such, such registration shall be suftcient to vest
successors in office ofthat trustee with the rights attaching to such security interest,
and it shall not be necessary to register an amendment to the registered notice of the
security inte,{est"
Compulsory rc gistration of amen&nent or carrcellation notice
20.
(l) A securcd crBdior
(a)
must register an amendment notice
if-
the registered notice to which it relates contains information that exceeds
the scope of the debtor's authqisation; or
(b)
the security agreemenl to wtrich the registered notice relates has been
revised to delete some collateral and the debtor has not otherwise
auftorised the regiseation.
(2) A secured creditor must rcgister a cancellation notice
if-
(a)
(b)
the registration of an
(c)
the security interest o which the notice relates has been terminated and
the secured creditor has no further commitnrent to provide value to the
debtor.
initial notice was not authorised by ttre debtor; or
the registration of an initial notice was authorisd by the debtor but the
authorisation has been with&awn and no security agreeorent has been
concluded; or
(3) A securcd creditor may not chqge or accept any fee or expense for courylying
with his or her obligation under su@aragraph (lXa) or (2Xa).
(4) If any of the conditions set out in subparagraphs (l) ad (2) ane met, the
debtor is entitled to rcquest the secued creditor in writing to register an amendment
or cancellation notice and the secured creditor may not charge or accept any fee or
expensc therefor.
(5) If the secured crdits does not comply with tb debtor's written request
referred to in zubparagmph (4) within ten working days after its receipt, the debtor
is entitled to seek &e registration of an amendment or cancellation notice tluough a
summary judicial or administrative procedure.
Search results
21 . ( I ) Upon submission of a search request that satisfies the rcquirenrcnts of this
Part, tbe Registrar must, without delay, prcvide a search result that irdicates the date
and time when the search was perfonned and-
(a)
(b)
set forttr all infsrration in each rcgistered notice that contains infrrmation
mat*ing the search criterion exactly; or
irdicate that noregistered notice contains information matching the search
criterion exactly.
(2) Upon request by a searcher, the Regishar must issue an
certificate indicating the search result.
offcial
search
(3) A written search result issued by the Registrar is prmf of its contents in the
absence of evidence to the contrary.
162
Select target paragraph3
Add to table of contents