Secured Transactions Act · 2022 Revised Edition · Part · Registration
48. Verification statement
Official textFrom Attorney General's Chambers, unchanged
A verification statement shall, as soon as reasonably practicable after a financing statement has been registered, be given to the person who submitted the financing statement for registration.
financing statement
“financing statement” means forms in writing or their electronic equivalent as provided in the regulations on which information is provided in order to effect, amend, terminate or continue a registration;
A copy of the verification statement shall be given to the debtor by the secured party who registered a financing statement, or on whose behalf a financing statement has been registered, within 15 working days after the verification statement is received, unless the debtor has waived in writing the right to receive it.
secured party
“secured party” means a person in whose favour a security interest is created, including — (a) a consignor; (b) a financial lessor and a lessor who acquired goods under an operating lease; (c) a transferee of an intangible; (d) a seller who reserved title to the sold goods; or (e) a trustee or agent of the person referred to in paragraphs (a) to (d);
Terms defined in s 3
financing statement
Defined · s 3“financing statement” means forms in writing or their electronic equivalent as provided in the regulations on which information is provided in order to effect, amend, terminate or continue a registration;
secured party
Defined · s 3“secured party” means a person in whose favour a security interest is created, including — (a) a consignor; (b) a financial lessor and a lessor who acquired goods under an operating lease; (c) a transferee of an intangible; (d) a seller who reserved title to the sold goods; or (e) a trustee or agent of the person referred to in paragraphs (a) to (d);
Part
Enforcement of Security Interests
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