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The Law of the Republic of Kazakhstan On registration
of pledge of movable property
This Law shall establish rules for registration of pledges of movable property with the purpose of exercising and protecting the rights of physical and legal entities who have legitimate interests in such property.
Section 1. General Provisions
Article 1. Basic Concepts Used in this Law
The following basic concepts shall be used in this Law:
movable property - vehicles, goods in turnover, securities, money, interests in property, including right to future products, and other property that is not attributed to real estate by legislative acts;
registration of pledges of movable property - the procedure for keeping records on pledges of movable property by the registration office, that is a cumulative act of entities participating in relations arising in the course of registration of pledge of movable property with regard to: 1) making entries into the registry of pledge of movable property from the pledge agreement or other contract containing conditions on pledge (application on registration of the pledge);, 2) issuing the certificate of registration of pledge of movable property; and 3) [committing] other acts by registration offices in accordance with the procedures established by this Law and other legislative acts;
registered pledge - a pledge of movable property that has been registered in accordance with the procedures established by this Law;
applicant - an entity filing an application for registration of pledge with the registration office; upon the agreement between the parties under the pledge obligation both a pledgor and a pledgeholder may act as applicants;
agencies for registration of pledge of movable property (registration offices) - organizations operating under the jurisdiction of the Ministry of Justice of the Republic of Kazakhstan that register movable property pledges created by legal entities and physical persons, as well as other state agencies and legal entities authorized by legislative acts to register certain types of movable property subject to state registration and pledges of such property;
Registry of Pledge of Movable Property (Registry of Pledges) a system of record keeping and maintenance of information handled by registration offices in the procedure established by legislation; and
certificate of registration of pledge of movable property - a document which is issued to the applicant by the registration office and confirms the fact of registration of pledge of movable property.
