Article 17. Application for registration of amendments, additions and termination of the registered pledge of the Law on Registration of Pledge of Movable Property

Home / RLA / Article 17. Application for registration of amendments, additions and termination of the registered pledge of the Law on Registration of Pledge of Movable Property

1. The application for registration of amendments, additions and termination of the registered pledge of movable property must contain an indication of the originally registered pledge, a description of the amendments and additions to the pledge agreement (transfer of ownership to another person, assignment of the right of claim, etc.), the grounds for termination of the registered pledge.

1-1. When submitting an application for termination of a registered pledge by the pledgor through the unified register of collateral of movable property, the registration of the termination of the pledge is carried out on the basis of an application from the pledgee confirming the fulfillment by the pledgor of the obligations secured by the pledge. In this case, the pledgee is obliged to send this application through the unified register of pledge of movable property no later than two working days from the moment the pledgor submits an application for termination of the registered pledge.

2. The application for registration of amendments and additions, in addition to the information specified in paragraph 1 of this Article, must contain:

1) the date of signing the agreement on amendments and additions to the terms of the pledge or the agreement on the assignment of rights (claims) under the pledge (including the agreement on the simultaneous transfer of assets and liabilities);

2) the registration number of the pledge of movable property assigned by the registering authority or a State Corporation, except in cases of registration of amendments and additions based on an agreement on the simultaneous transfer of assets and liabilities;

3) a description of the changes and additions being made;

4) signatures of the pledgor and the pledgee (their representatives), and in case of assignment of rights (claims) under pledge agreements – only the signature of the new pledgee, as well as the consent signed by the pledgee who assigned the rights (claims).

3. The application must contain information on amendments and additions in accordance with paragraph 2 of this article.

This Law establishes the rules for registering the pledge of movable property in order to realize and protect the rights of individuals and legal entities who have legitimate rights to this property.

The Law of the Republic of Kazakhstan dated June 30, 1998 No. 254.

President

Republic of Kazakhstan

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