Unofficial translaction
sole entity empowered to complete formalities relating to security interests and leasing
agreementsprovided for by this uniform Act, the Uniform Act onsecurities interests and any
other legislation.
ARTICLE 71-The clerk or the person in charge of the competent body in the State party
overseeing the Register of Commerce and Securitiesdesignatedatthiseffectshall be theonlyentity
competent to perform the tasks set forth in article 35 of this uniform Act.
The clerk or the person in charge of the competent body in the State party overseeing the
designated Register of Commerce and Securities shall use existing registries and directories and
provided for in article 38 above of this uniform Act for formalities referred to in article 70
above.
ARTICLE72-Inorder to enablethe designated Register of Commerce and Securitiesto
implement the provisions of article 70 above, each Register of Commerce and Securities shall
have a period of one year to transfer all files related to security interests and leasing agreements
entered in its registries including registration, amendment, renewal and removal dates to the
designated Register of Commerce and Securities.
Notwithstanding the foregoing, in the event of amendment, renewal and removal of an entry,
upon receipt of the related application,theclerkorthe competent body in the State party
overseeingthe designatedRegisterof Commerce and Securities shall request immediate
transmission of the file in question to the registry or the competent body in the State party
overseeing the Register of Commerce and Securities who received the initial entry. It should be
an urgent transmission, to be completedin any event within one month from the receipt of
theapplication.
Individuals referred to in article 51 of the Uniform Act on securities interestsmay seize the
competent court or body in the Stateparty which shall rule expeditiously to have the concerned
clerk or person overseeing the Register of Commerce and Securities transfer the file in case the
file is not transferred within the prescribed deadlines above.
The clerk or the person in charge of the competent body in the State party overseeing the
designated Register of Commerce and Securities shall,upon receipt of the application
concerned, register in the chronological register of filings and in the alphabetical directory of
data.
Registration, renewal, amendment, or removal dates shall, inter alia, be enteredin the
chronological register of filings and in the alphabetical directory while specifying that it is a
deferred registration, renewal, modificationorremoval fromafiletransferred with entries from the
original Register of Commerce and Securities.
Thecreditorholder of a security interest,the securities agentorthelessor may seize the competent
court or body in the Stateparty, which shall rule expeditiously, to have the concerned clerk or
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