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Chattels Security Act, 2014 (No. 7 of 2014).

Country/Territory
Uganda
Document type
Legislation
Date
2014
Source
FAO, FAOLEX
Long title
An Act to regulate the making and enforcement of security interests in chattels; to repeal the Chattels Transfer Act, Cap. 70 and for other related purposes.
Subject
Agricultural & rural development, Land & soil
Keyword
Agricultural development Contract/agreement Credit Registration Legal proceedings/administrative proceedings Agricultural land
Geographical area
Africa, Eastern Africa, Landlocked Developing Nations, Least Developed Countries
Abstract

This Act concerns the creation, perfection registration and sale of security interest and rights and obligations relating to chattels. It also concerns security interests in crops and animals. A perfected security interest in crops for new value given to enable a debtor produce the crops during the production season, given not more than three months before the crops become growing crops takes priority over an earlier perfected security interest. An instrument may be granted over the crops described or referred to in the instrument, which, at the time of execution of the instrument are planted or growing upon the land mentioned in the instrument. An instrument shall not prejudicially affect the rights of a landlord or a mortgagee of any land on which crops comprised in the instrument are growing, except where the landlord or mortgagee consents to the instrument in writing. The provisions of the Land Act, Cap. 227 relating to family land rights shall apply to this Act.

Full text
English
Website
www.ulii.org

References - Legislation

Repeals

Chattels Transfer Act 1978 (Cap. 70).

Legislation | Uganda | 1978 (2000)

Keyword: Agricultural development, Contract/agreement, Credit, Registration, Legal proceedings/administrative proceedings

Source: FAO, FAOLEX