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UNCITRAL Practice Guide to the Model Law on Secured Transactions

image of UNCITRAL Practice Guide to the Model Law on Secured Transactions

The UNCITRAL Practice Guide to the Model Law on Secured Transactions provides practical guidance to parties involved in secured transactions in States that enact the Model Law. The Practice Guide explains key features and benefits of the Model Law, illustrates the types of secured transactions that can be undertaken under the Model Law, and provides step-by-step explanations of how to engage in the most common and commercially important secured transactions. The Practice Guide is for readers who wish to understand transactions governed by, and in many cases made possible by, the Model Law. It provides guidance to creditors and debtors on how to engage in several common types of secured transactions, to others whose rights may be affected by a secured transaction, and to regulated financial institutions and prudential regulatory authorities.

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The interaction between the model law and the prudential regulatory framework

365. This chapter is addressed primarily to financial institutions that are subject to prudential regulation and supervision (“regulated financial institutions”). Typically, banks and other financial institutions that receive repayable funds, or deposits, from the public to extend loans would fall under this category. This chapter may also provide useful guidance to national authorities exercising prudential regulatory powers and supervisory functions (“regulatory authorities”).

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