:Günther: Höllein joined the group Dï5 – Belgium
The Pledge Act, which entered into force on 1 January 2018, provided a much-needed overhaul of the Belgian movable assets security regime. Among other things, the Pledge Act abolished the dispossession requirement and created a National Pledge Register. The online Register provides for perfection of a pledge by way of straightforward registration. In such a way, the pledgor can remain in possession of its pledged assets without impacting the pledge. This would permit, for instance, continued trade with the pledged assets, benefiting the pledgor’s business.
In Belgium Movable Asset=Personal Property
Financial Collateral Arrangments=Security Agreement
Under the Civil Law or [Burgerlijk Wtboek/BW] they play with the words, several words have the same meaning but they just look different.
Pledge Register or [Pandregister] is the be found on the official website Ministry of Finance or UBO register, it is needed to log in with a Belgian id-card connected to your computer with a Belgian e-card reader or by absence of these you can get acces trough a Notary.
The date of entry into force of the Security Act is postponed the latest to 1 January 2018 (Article 109 Security Act). This measure was necessary because the pledges register, which is the cornerstone of the new regime organized by the Security Act, is not yet effective. To the extent that the pledges register would become operational earlier, the Belgian Government has agreed to bring the Security Act in force before 1 January 2018. So it is in effect wright now.
POSTED AS EXAMPLE: [The Belgian act of 11 July 2013 with regard to security rights on movable assets (the “Security Act”) is not yet in force. Implementing regulations were expected to organize the pledges register and to correct some inaccuracies and loopholes. The Belgian Law of 25 December 2016 (the “Law”) amends the Security Act to ensure its effective implementation and postpone (once more) its entry into force. In an effort to harmonize the regime of security rights on movable assets, the Law also amends other regulations such as the Law of 15 December 2004 concerning financial collateral arrangements, the Registration Duties Code and the Law of 3 August 2012 relating to various provisions in order to facilitate the mobilization of receivables in the financial sector.] You see the words “movable assets=personal property and financial collateral arrangements=security agreement.
Special Endorsement, Bijzondere Overdracht, Endosseren, Overdragen, Gireren in Dutch Language.
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