Foreign experience shows that creation of a register of encumbrances on movable property
helps to solve this problem.
He said: "The mortgage of movable property
allows companies, including SMEs, to pledge their movable properties as security for loans from banks and financial institutes.
The Movables Security Law is primarily concerned with non-possessory pledge/charge over movable property
This bill has been developed by a working group in order to improve the legal and regulatory framework in the field of collateral relationship involving the registration of pledges of movable property
and modernization of the unified state register on pledges of movable property
The decision of the Attorney General had ordered a hold to be placed on the money and all movable property
, real estate, cash, stocks, bonds and various securities in the banks and corporations and others owned by the former president and his wife and his two sons, their wives and their under-age children.
The ministry intends to submit a bill to the Diet this fall for the movable property
registration system to be launched in fiscal 2005 which starts next April, they said.
Facilitators revealed to seminar participants that an HIV and Aids impact study by the Food and Agriculture Organisation (FAO), conducted in the Ohangwena Region in 2002, found that widows and orphans had lost vast amounts of livestock, farm equipment and other movable property
to the deceased husband's family.
Bottled water or water in transportable tanks might thus be construed as movable property
in the same manner that oil pumped from the ground and stored in barrels would be considered movable, despite the fact that oil still in the ground is clearly considered immovable property.
To prevent more casualties in the Yangtze's worst flood season in 44 years, all people and movable property
were ordered away from a 350-mile stretch of the river.
Through this financing, NBC would offer GCO credit facilities up to an amount of $7,300,000, this credit to be guaranteed by securities on movable property
agreed to by GCO on various assets according to the nature of the loans.
Touching upon the issue of register of movable property
, he noted that it will be presented to the public during March.
Contract award notice: Disposal of vehicles, Machinery and movable property
The Statement of Objects and Reasons of the bill says, taking security interests over movable property
is considered risky under the current legal framework.
2) movable property
, including vehicles, cash (local and foreign currency), securities, share capital owned by them in enterprises, jewelry, livestock, as well as property of cultural value and antiquities.
Secured transactions are credit transactions where a creditor grants a loan or a debt obligation to a debtor against an interest in a debtor's movable property