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Movable Property (Security Interests) Act, 2022.

Country/Territory
Botswana
Document type
Legislation
Date
2022
Source
FAO, FAOLEX
Original source
Government Gazette Extraordinary Vol. LX, No. 22 GABORONE 25th February, 2022.
Long title
An Act to provide for the facilitation of the use of movable property as collateral for credit facilities; for the establishment of the Collateral Registry Office and the Collateral Registry; for a comprehensive registration regime of security interests in movable property; for determination of priority between security interests in movable property; and for matters incidental thereto or connected thereto
Subject
Agricultural & rural development, Livestock, Forestry, Cultivated plants, Water, General
Keyword
Institution Registration Agricultural commodities Agricultural development Breeders' rights/farmers' rights Intellectual property rights/patents Property rights Credit Apiculture/sericulture Timber Animal production Crops/grasses Planting material/seeds Fertilizers/nutrients Organic waste Plant production Aquaculture
Geographical area
Africa, Landlocked Developing Nations, Southern Africa
Abstract

This Act applies to a security right in a movable property, including — (a) every transaction that creates a security interest, without regard to the form of the transaction, type of the movable property, status of the debtor or secured creditor, person who holds title to the collateral, or nature of the secured obligation; (b) the transfer of accounts receivable; (c) the lease of a tangible asset; (d) a commercial consignment; (e) a security interest created by judgement of a court; and (f) a security interest created by a Government lien. Without limiting the generality of subsection 3(2) this Act applies to a floating or fixed charge; a hypothec; a hire purchase agreement or instalment sale agreement; a conditional sale agreement; an agreement with a retention of title provision; a finance lease; a sale and lease-back; a trust indenture and trust receipt; and a pledge.

Full text
English
Website
cpj.org