No.9l?,017
12
Movesm PxorERTy Secururv lnrnnssrs
Cap. 14:35
Anpndnsrt of varioue Acts
(l) The Insolvency ActfClwpter 6:041 is amended in(a) section 2 fTnterpetxion") by the insertion of the following
aftersubsection
(2)-
subsection
'(3) A reference in this Act to a "notarial bond' shall
be
consbued after the dale of cornmenoement of the Movable property
security lnterests Act [chapter l4:3fl(No.9 of 201?), as a reference
to a security interest registered in the Collateral Regstry established
under that Act.";
(b)
section 108 *(Notarial bonds)" by the repeal of paragraph
substitution
of-
"*'
*i,T*ffiilT.:ilI'*:
(ii)
Ti}"#l,
o)
and the
were secured bv
-
after the date of cornmencemenf of the Movable pr,operty
Security Intcrrests Act {Clnpter 14:351(No. 9 of 20lT),
a security interest registered in the Collateral Reglstry
established under that
Actf'.
(2) The Bills of Exchange Act lchapter 14fr21 is amended in section 76 "(Rights
ofbankers collecting cheques not endorsed by bolders) by the insertion ofthe words
"security interest tr " before *lien".
(3)
14:09lis amended in*
section 7 "(Provisions to be included in agreemer*)'by the repeal of
subsections (lXc) and (3XaXi);
section I "(Invalidity of certain provisions)" by the repeat of subeEction
(lXa);
lbe
(a)
(b)
(c)
Hfue Purchase ActfChapter
section 10 "(Removalof goods)'by the deletion-
(t)
in subsection (lXb) of "that, if beforc the ownership of the goods
has passed to the purchaset''and the substitution of ..that as long m
the security interest remains effective between the parties,,;
(ii)
in subsection (3) of *if the seller of goods under a hire-purchase
agreement has given written notice of his owncrship tlrereof to ttre
landlord of the premises whete such goods are kept, such" and the
substitution of *if the seller of goods undu a security agrc€ment
has registered a notice in the Collateral Regrstry eskblished under
the Movable Property Security Interests ActtClnpter l4:3fl (No.
9 of 2017)".
(4) The Agricultural Finance Corporation Act lClmpter I 8:O2lis amended
(a)
(b)
in*
section 35 '{Notes of hand)'by the insertion after subsection (5) of the
following subsection-
{6) This section shall not apply to movable lnoperry.";
section 36 '(Security for advance where borrower holds land in terms
of agreement with state)" by the insertion after subsection (4) of the
following subsoction*
'(5) This section shall not apply to a sectrity interest in
a lease
of immovable property.";
(c)
section 4l "(Designated property purchased by bonrower may become
corporation property)" by the insertion after subsection (4) of the
following subsection154