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UNCITRAL Guide on the Implementation of a Security Rights Registry (2013)

 

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The UNCITRAL Guide on the Implementation of a Security Rights Registry  (the "Registry Guide") provides commentary and recommendations on issues relating to the establishment and operation of an efficient publicly accessible security rights registry, where information about the potential existence of a security right in movable assets may be registered. The Registry Guide supplements the UNCITRAL Legislative Guide on Secured Transactions (the "Secured Transactions Guide"), which provides guidance to States with respect to legislative issues that should be addressed in a modern secured transactions law. Together, the Secured Transactions Guide and the Registry Guide provide comprehensive guidance to States with respect to legal and practical issues that need to be addressed to implement a modern security rights and registration regime. Such a modern registration regime is designed to increase transparency and certainty of rights, which in turn may increase access to credit at more affordable rates and thus assist States in dealing with the current economic crisis by enhancing economic growth, sustainable development, competitiveness, rule of law, financial inclusion and efforts to combat poverty. In addition, the Registry Guide is intended to promote the harmonization of national security rights registration regimes and easier coordination among national security rights registries. This result in turn is likely to facilitate the cross-border recognition of security rights and thus international trade, which, if achieved on the basis of equality and mutual benefit to all States, is an important element in promoting friendly relations among States.

 

See also:

General Assembly resolution