Movnnle PRoprRTy Srcunrry Innrnsrs Cap. 14135 No,9f7,,4fi "Registry" means tlrc Collateral Registry establisM in tenns of sec'tion 4{l); "Reserve Bank" means the Reserve Bank of Zimbabwe refened to in section 4 of the Reserve Bank of Zimbabwe Act lChapter 22:I5l No. 5 of 1999); "secured cf,editff" means - (a) (b) a penron that has a security interest; (a) a property or a transferee in an outright transfer of a receivable; "security interest" meansright in a movable asset that is created by an agreement to secur€ payment or oth€r perfonnance of an obligation, regardless of whethertheparties havedenominated it as a secrnity interest,and regardless of the type of asset, the status of the debtor secured creditor, or the nature of the securcd obligation; or c (b) 3 the right of the hansferee in an outright Hansfer of a rmeivable. Appllcatlon (l) Subject to subsection (3), ttris Act applies to security interess in movable a view to registering notices relating to security interests in the Collateral propeily with Regrsry. (2) The kind of security interest that may be seated in movable property for the purpose of this Act includes any security inte,fest that may be evidenced or created by means of a chanel mortgage, notarial bond, hypothec, note of hand, charge, sectred debenture, pledge, tnrst indenture, tnrst receiS, financial lease andany othertransaction that secures payment or performance of an obligation. (3) A security interest(a) in a future asset; or (b) in an undivided interest in a movable asset or movable property; or (c) in a pan of a movable asset tr movable property; may also be pafected by way of registration of a notice of security inteiest. (4) Subject to paragraph 7 of the Second Schedule, security interests may be perfected by any formal or infomral mode recognised by the common law: Provided that from the fixed date no security intercsts rnay be registered by way of a notarial bond in a deeds regtsry. (5) This Act does not apply (a) (b) (c) o- security interests in book-entry securities held through the Central Securities Depository under the Securities and Exchange A*fChapter 24:251; the creation andtransferof an interest in land,excluding aright O payment that arises in connection with an interest in or a lease of land; a security interest, including a mortgage in a vessel, subject to the Inland Waters Shipping Act lClwpter I 3 :061; (d) a security inter,est in an aircraft subject to the Civil Aviation Act fClmpter 13:16l (No.? of 1998); (e) {0 except as otherwise provided in this Act, a [ien, charge or other interest given by statute or nrle of law; security intcrests in proceeds ofcollateral asset lying outsidc the scope of ttris Act q if the proceeds are a type of to the extent that other laws apply to security interests in those types of assets. 151