Assets and property registry
Collateral is any asset/property [be it movable or immovable] pledged by a borrower to secure a credit facility.
The functions of the Collateral Registry are;
- To register security interests;
- To keep and maintain a Register of security interests;
- To keep and maintain a platform for conducting of searches in security interest; and
- To perform any other function determined by the Bank.
Our users include but are not limited to Banks, Specialized Deposit-Taking Institutions, Non-Bank Financial Institutions and the General Public.
No, Section (1)(3)(a) and (b) of the ACT 1052 provides for security interests exempted under this ACT.
Under section 25 (2) of ACT 1052, a registration shall remain effective until discharged by the registrant.