Collateral Registry

The Movable Property (Security Interest) Registry System fulfills two essential functions. The first objective is to notify parties about the existence of security interests in movable property. The registry gives transparency to the credit system by giving publicity to security interests that exist in particular collateral. Secondly, the Movable Property (Security Interest) Registry System establishes […]

The Movable Property (Security Interest) Registry System is an electronic public database that contains information on security interests in movable assets and the secured creditors’ priorities.

Upon lending against movable property, a lender should register the interest in the collateral (the security interest) in the Collateral Registry. Registration is effected by filing a ‘financing statement’ – not a ‘financial statement’. Once registered, the security interest is said to have been ‘perfected’. As later discussed, there three alternatives to perfection, the primary