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UNCITRAL guide on the implementation of a security rights registry

image of UNCITRAL guide on the implementation of a security rights registry
This publication (the Registry Guide) provides guidance to States with respect to the establishment and operation of a general security rights registry of the kind recommended in the UNCITRAL Legislative Guide on Secured Transactions (the Secured Transactions Guide). The Guide is a stand-alone text discussing the key issues that should be addressed in secured transactions law in line with the Secured Transactions Guide and in some detail all practical issues related to the establishment and operation of a general security rights registry. It also contains recommendations that suggest how all registry-related issues should be addressed in administrative registry regulations and examples of registry forms, intended to provide guidance to the registry system designers, the registry staff and the registry users.

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Registration of amendment and cancellation notices

A secured creditor may wish to amend the information in a registered notice for a variety of reasons, for example, to correct an error in a previous registered notice or to update the registration information as a result of subsequent events. This is done by submitting an amendment notice to the registry. The Regulation should make it clear that the secured creditor is responsible for entering the information relating to the amendment in the same manner as required by the Regulation for entering information of that kind in an initial notice (see rec. 19 above and rec. 30 below).

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