(Superiority of the Movable Property (Security Interest) Act, Number 3 of 2016)
The Movable Property (Security Interest) Act supersedes any other law with regards to
security interests in movable property. This means that a security interest in moveable
property, once validly registered under the Movable Property (Security Interest) Act,
will supersede any other security interest registered (in respect of the same movable
property) under any other law such as the Companies Act, the Agricultural Charges
Act, the Trade Charges Act, and the Hire Purchase Act.
If a security interest in a moveable property is registered under the Movable Property
(Security Interest) Act, that security interest will take precedence in matters such as
enforcement over the provisions of any other law.
We remain at your service, make that appointment and let us see how we can help you.
*** the Movable Property (Security Interest) Act defines movable property to include goods, intangibles, securities, money, negotiable instruments and negotiable documents.
Disclaimer: The information expressed in this document is for general purposes only. It does not in
any way constitute legal or professional advice.