New forms of securities in the Pledge Register
Banking & Finance
Publisher: Bojović Drašković Popović & Partners
Business Registers Agency announced that, as of 1 January 2021, it will commence with registration of two new contracts in the Register of Pledges on Movable Property and Rights – pledge contract with transfer of the pledged asset into the possession of the creditor and contract on sales of movable assets with withholding ownership rights in order to secure seller’s claim until the price is paid in total.
In that way, the latest novelties envisaged in the amended Law on Pledge of Movable Property and Rights Registered in the Pledge Register (Zakon o založnom pravu na pokretnim stvarima i pravima upisanim u registar, Official Gazette of the Republic of Serbia, no. 57/2003, 61/2005, 64/2006 - correction, 99/2011 – other laws and 31/2019) will be implemented.
Further, the Rulebook on the Content of the Register of Pledges on Movable Property and Rights and Documentation Required for Registration (Pravilnik o sadržini Registra založnog prava na pokretnim stvarima i pravima i dokumentaciji potrebnoj za registraciju, Official Gazette of the Republic of Serbia, no. 71/2019 and 156/2020) was issued by the Ministry of Economy, regulating the content of the Pledge Register and documentation required for registration or erasure of data.
It will be possible to submit electronic applications as of 1 July 2022.