Draft Common Frame of Reference:IX. — 3:310 Identity of security provider, description of encumbered assets and effectiveness of registration

Draft Common Frame of Reference

IX. — 3:310 Identity of security provider, description of encumbered assets and effectiveness of registration

Geldend

Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.Deze functie is alleen te gebruiken als je bent ingelogd.

(1)

If under the rules in this Book the effectiveness or priority of a security right encumbering assets of a certain security provider depends upon registration, an entry in the register according to this Subsection suffices only if:

(a)

the entry is filed against the correct security provider;

(b)

the creditor's declaration as to the encumbered assets as appearing on the register covers the assets encumbered by the security right;

(c)

the encumbered assets actually belong to the category or categories of assets indicated in the entry; and

(d)

the creditor's declaration is in an official language of the European Union. The creditor may add translations.

(2)

For the purposes of paragraph (1)(b):

(a)

the entry is effective in respect of fruits, products, proceeds and any other assets different from the original assets serving as security only if these assets are also covered by the creditor's declaration as to the encumbered assets; and

(b)

a description identifying individual assets is not necessary.

(3)

The creditor making the entry bears the risk that:

(a)

the description of the encumbered assets, the translation of this description or the indication of the category or categories of encumbered assets is wrong; and

(b)

the entry is filed against a wrong person.

Deze functie is alleen te gebruiken als je bent ingelogd.