Article 10. Obligations of the registering Authority, the State Corporation and the mortgagees of the Law On the Registration of the Pledge of Movable Property

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The footnote. Title of Article 10 as amended by the Law of the Republic of Kazakhstan dated 02.27.2017 No. 49-VI (effective ten calendar days after the date of its first official publication).

1. From the moment of receipt of the necessary documents, the registration authority and (or) the State Corporation are obliged to:

1) give the applicant a receipt confirming receipt of the submitted documents, indicating the date and time (hours, minutes);

2) enter the data from the application for registration of the pledge in the register of pledge of movable property (including in the computer database);

3) issue a certificate of registration of the pledge of movable property to the person who submitted the application;

4) provide the authorized financial monitoring body with information in accordance with the Law of the Republic of Kazakhstan "On Countering the Legalization (Laundering) of Proceeds from Crime, Financing of terrorism and Financing the proliferation of weapons of Mass Destruction.

2. The registration of a pledge of movable property must be made within two working days from the date of acceptance of the application, with the exception of the cases specified in Articles 6, 9-3 and 9-4 of this Law.

2-1. Electronic registration of a pledge of movable property on the basis of an application received through the unified register of pledge of movable property must be made no later than one business day following the day of receipt in the unified register of pledge of movable property of confirmation of payment of the fee for registration of pledge of movable property or exemption from payment of the fee.

3. The registering authority and (or) the State Corporation shall verify in the application the completeness of the information on the pledge in the unified register of collateral for movable property.

4. The registering authority and (or) the State Corporation are obliged to ensure the provision of information on collateral of movable property in writing or through the unified register of collateral of movable property in electronic form, with appropriate access to all participants in the relations arising during the registration of collateral of movable property specified in Article 3 of this Law, with the exception of third parties. Third parties may obtain information from the unified register of collateral for movable property, provided that the pledgor and/or the pledgee certify such a request.

At the same time, information on collateral for movable property must contain the following information about the pledge of movable property and the parties to the pledge agreement or other document containing the terms of the pledge:

1) information about the pledgor and the pledgee, their details, including addresses, bank details, phone numbers, and email addresses (if available);

2) information about the document on the basis of which the pledge relationship arose;

3) the date and place of conclusion of the pledge agreement or other document containing the terms of the pledge;

4) a list and (or) a general description of the property that is the subject of the pledge;

5) the term of performance of the obligation secured by the pledge.

5. If, by agreement of the parties to the pledge obligation, the pledgee is the applicant for de-registration of the pledge of movable property, the latter, after the fulfillment by the pledgor of the obligation secured by the pledge, no later than two working days after the fulfillment of the obligation, sends an application for de-registration of the pledge of movable property to the registration authority and (or) the State Corporation.

The application can be sent through the unified register of collateral for movable property.

6. The registering authority and (or) the State Corporation, within one business day following the day of filing the pledgee's application, shall withdraw the pledge from registration and send to the pledgee and the pledgor, through the unified register of pledge of movable property, a notification of the withdrawal of the pledge of movable property in the form of an electronic document or a reasoned response on refusal to withdraw from registration. in the form of an electronic document, certified by an electronic digital signature of the registering authority and (or) a State Corporation.

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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