Article 5. Registration of a pledge of movable property that is not subject to mandatory state registration of the Law on Registration of a Pledge of Movable Property

Home / RLA / Article 5. Registration of a pledge of movable property that is not subject to mandatory state registration of the Law on Registration of a Pledge of Movable Property

The footnote. The title of Article 5 as amended by the Law of the Republic of Kazakhstan dated 17.11.2015 No. 408-V (effective from 01.03.2016).

1. Activities related to the registration of collateral for movable property that is not subject to mandatory state registration, the provision of information services in the form of issuing extracts from the register of collateral for movable property, correcting errors in registration documents caused by the applicant's fault, belong to the state monopoly and are carried out by a State Corporation.

1-1. A pledge of movable property that is not subject to mandatory state registration must be registered:

1) at the request of one of the parties to the pledge agreement or other agreement containing the terms of the pledge;

2) if a pledge agreement or other agreement containing a pledge clause prohibits the subsequent pledge (re-pledge) of the pledged property.

2. Registration of the pledge of movable property, which is not subject to mandatory registration, is carried out at the place of application of individuals and legal entities.

3. A state corporation is obliged to keep a register of registered collateral of movable property that is not subject to mandatory state registration.

4. The Ministry of Justice of the Republic of Kazakhstan, as well as state bodies authorized to register certain types of pledge of movable property, within the limits of their powers provided by Law, have the right to issue departmental acts establishing rules and procedures for registration of pledge of movable property.

5. Prices for goods (works, services) produced and (or) sold by a State Corporation are set by an authorized body determined by a decision of the Government of the Republic of Kazakhstan from among the central government bodies, in coordination with the antimonopoly authority and the authorized body.

The footnote. Article 5 as amended by the Laws of the Republic of Kazakhstan dated 04/27/2012 No. 15-V (effective after ten calendar days after its first official publication); dated 07/10/2012 No. 34-V (effective from the date of its first official publication); dated 09/29/2014 No. 239-V (effective after ten calendar days after the date of its first official publication); dated 17.11.2015 No. 408-V (effective from 01.03.2016); dated 24.05.2018 No. 156-VI (effective after ten calendar days after the date of its first official publication).

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

Constitution Law Code Standard Decree Order Decision Resolution Lawyer Almaty Lawyer Legal service Legal advice Civil Criminal Administrative cases Disputes Defense Arbitration Law Company Kazakhstan Law Firm Court Cases