Movable Property (Security Interest) (No. 3 of 2016)
ZambiaAct of Parliament2016No. No. 3 of 2016
The Movable Property (Security Interest) (No. 3 of 2016) is an Act of the Parliament of Zambia enacted in 2016. It contains 109 sections. Read its sections below, or ask Levy any question about the Movable Property (Security Interest) (No. 3 of 2016) and get an answer grounded in the Act with citations.
Sections of the Movable Property (Security Interest) (No. 3 of 2016)
- S. 1Short title
- S. 2Interpretation
- S. 3Application and non-application of Act
- S. 4Conflict of laws
- S. 5Bankruptcy and insolvency proceedings
- S. 6Supremacy of Act
- S. 7Establishment of Collateral Registry Office and
- S. 8Functions of Registrar
- S. 9Delegation of functions
- S. 10Officers of Collateral Registry Office
- S. 11Establishment of Collateral Registry and storage of
- S. 12Financing statements and registration
- S. 13Information required to register financing statement
- S. 14Non-registration of financing statement
- S. 15Effect of registration
- S. 16Confirmation statement
- S. 17Invalidity of registration of financing statement
- S. 18Validity of registered financing statement
- S. 19Duration of registration and renewal
- S. 20Transfer of financing statement
- S. 21Amendment or discharge of financing statement
- S. 22Discharge of registration relating to consumer goods
- S. 23Demand by debtor to amend or discharge registration
- S. 24Amendment or discharge by court order
- S. 25System malfunction
- S. 26Access to Collateral Registry, inspection and copies
- S. 27Evidentiary provisions
- S. 28Certificate of status of registered financing statement
- S. 29Appeal against decision of Registrar
- S. 30Oaths and affirmations
- S. 31Registrar to appear in legal proceedings
- S. 32Regulations on registration processes and procedures
- S. 33Creation of security interest and effectiveness
- S. 34Security agreements
- S. 35Description of collateral in security agreement
- S. 36Effectiveness of security interest generally
- S. 37Creation of security interest in after-acquired movable
- S. 38Continuation of security interest to proceeds or, commingled
- S. 39Rights of debtor in collateral
- S. 40Debtor may transfer collateral
- S. 41Effectiveness of security interests in after-acquired movable
- S. 42Ineffectiveness of assignment clauses
- S. 43Security interest created in negotiable document
- S. 44Perfection of security interests
- S. 45Continuity of perfection
- S. 46Continuation of perfection of security interest in proceeds
- S. 47Temporary perfection of security interest in proceeds
- S. 48Continuation of perfection in transferred collateral
- S. 49Perfection with respect to a negotiable document, negotiable
- S. 50Perfection where goods with bailee
- S. 51Security interest in farm products
- S. 52Priority of security interests in same collateral
- S. 53Same priority for original collateral and proceeds
- S. 54Transfer of security interest not to affect priority
- S. 55Voluntary subordination of priority
- S. 56Priority in secured obligations and advances
- S. 57Priority of purchase money security interest in collateral
- S. 58Priority between purchase money security interests
- S. 59Priority of purchase money security interest in fixtures
- S. 60Priority of security interest in goods prior to accession
- S. 61Priority of security interest in processed or commingled
- S. 62Priority of security interests in bank account
- S. 63Priority of security interest transferred by debtor
- S. 64Priority of creditor who receives payment
- S. 65Priority of purchaser of negotiable instrument, investment
- S. 66Priority of interest of assignee of account receivable
- S. 67Rights of buyer or lessee of goods
- S. 68Priority of lien over security interest relating to same goods
- S. 69Priority of judgment creditor and lien holder over
- S. 70Application of Part
- S. 71Registration of enforcement notice
- S. 72Secured creditor taking possession and disposing collateral
- S. 73Secured creditor rendering collateral unusable
- S. 74Secured creditor applying collateral in satisfaction of
- S. 75Disposal of collateral by secured creditor
- S. 76Duty of secured creditor disposing collateral
- S. 77Power of disposal in negotiable document and related goods
- S. 78Method of disposal of collateral
- S. 79Notice of disposal of collateral
- S. 80Extinguishment of subordinate security interest after
- S. 81Secured creditor to give statement of account to debtor
- S. 82Distribution of proceeds after disposal
- S. 83Proposal and notice of retention
- S. 84Objection to notice of retention
- S. 85Redemption of collateral by entitled persons
- S. 86Debtor reinstating security agreement
- S. 87Rights, duties and obligations to be exercised in good faith
- S. 88Amendment of financing statement to indicate content of
- S. 89Entitlement to damages for breach of obligation
- S. 90Exemption from liability for actions or omissions
- S. 91Secured creditor to provide information to debtor
- S. 92Service of documents or notices
- S. 93Fraudulent financing statement
- S. 94Submission of frivolous, malicious, etc financing statement
- S. 95Falsification of entries in register
- S. 96Altering of documents
- S. 97Deceiving or influencing Registrar or officer
- S. 98Administrative penalty
- S. 99General penalties
- S. 100Regulations
- S. 101Savings and transitional provisions
- S. 102The savings and transitional provisions in the Schedule
- S. IPRELIMINARY PROVISIONS
- S. IICOLLATERAL REGISTRY OFFICE AND COLLATERAL REGISTRY
- S. IIICREATION OF SECURITY INTERESTS
- S. IVPERFECTION OF SECURITY INTERESTS
- S. VPRIORITY BETWEEN SECURITY INTERESTS AND OTHER INTERESTS
- S. VIENFORCEMENT OF SECURITY INTERESTS
- S. VIIGENERAL PROVISIONS AND OFFENCES