Cap. 14:35 MovLnLE PnopsnTy Srcumnr lxrnnrsm lnw applicable No.9n0fi to security iwercst in nngible asset 38. (1) Except as otherwise provided in this paragraph, the law applicable to the creation, perfection ard priority of a security interest in a tangible asset is the law of the country in which the asset is located" (2) The law applicable to ttre creation, perfection and priority of a security interest in a tangible asset of a type ordinarily used in more than one country is the law of the counry in which the debtor is located. Law applicable to security interest in innngible asset 39. (l) The law applicable to the creation, perfection and priority of a security interest in an intangible asset is the law of the country in which the debtor is located. (2) The law applicable to the sreation, perfection, priority and enforcement of a security interest in a right to papnent of funds ffedited to a deposit account, as well as to the rights and obligations between the financial institution and ths secured creditm- (a) is the law of the couatry in which the financial institution with which the account is maintained has its place of busirrcss; (b) wbre the financial institution has places of business in rnore thau one country, the law applicable is the law of the country in which the branch maintaining the account is located. Ile (3) law applicable to the c?eation, perfection and priority of a security interest in an equity security is the law of the country in which the issuer is located and the law applicable to the creation, perfection and piority of a security interest in a debt ffiurity is the law of the country governing th securities. (4) The law applicable to th creation, perfection and priority of a security interestinintellectual propertyis the lawofthe counry in whictrtbintellecnralproperty is protectod. Inw applicable to enforcenoent of security interest interesti$ the law of the country where the relevant act of 4O. The law applicable to issues relating to the enfucement of a security (a) in a taagible asset enforcement takes place; and (b) in an intangible asset is the law of the country where tbe debts is locatod. Law appliceble to security b*erest in prcceeds of collateral 4t. (t) The law applicable to the crcation of a socurity interest in proceeds is ttre law ap'plicable to the creation of the s€curity interest in the original collateral ftrom which the proceeds arose. (2) The law applicable toperfection andpriuity of a security interest inproceeds is the law applicable to perfection and priority of a security interest in the original collateral of the same kind as tb pqoceeds. Meaning af locarton of dcbnr 42. For the purposes of this Part, the debtor is (a) located- in the case of a natural person, if ttre debtor does not have a place of business, in the country in which the debtor is ordinarily resident; O) - in the case of a juristic person (i) in the country in which it has its place of business, if any; or 175