By the Rulebook on the content of the Register of Pledges on Movable Property and Rights and documents required for registration (Official Gazette of the RS, No. 71/19) of 04/10/2019, which shall enter into force on 12 October 2019, the by-law has been harmonized with the new Law on Amendments and Supplements to the Law on Pledge of Movable Assets and Rights Registered in the Pledge Registry (Official Gazette of the RS, No. 31/19), which entered into force on 7 May 2019.
Amendments to the Law prescribe the registration of two additional types of contracts – contracts of sales of movables entailing the retention of ownership right until the price is paid in full, and pledge contracts entailing the transfer of assets to the possession, which are governed by the Law on Contracts and Torts (The Law on Obligations). One of the preconditions for the registration of these contracts was the adoption of a rulebook prescribing the information that the Register should contain, as well as the documentation that is to be submitted in the procedure of registration of the said contracts.
The Rulebook also prescribes the possibility of filing a registration application electronically.
Registration of the new types of contracts and enablement of electronic registration are the biggest innovations introduced by this Rulebook, which shall become applicable as of 1 January 2021, when the technical conditions are created, that is, when the software solution used in the operations of the Registry is improved.
Some solutions of the Rulebook have remained similar to those of the Rulebook on the content of the Register of Pledges on Movable Property and Rights and documents required for registration (Official Gazette of the RS, No. 31/13), which governed the operations of the Pledge Registry; only certain provisions thereof have been specified in more detail in order to eliminate ambiguities, as well as the dilemmas observed in practice so far.
In accordance with the new legal solutions, the registration of information relating to a collection of movable objects is enabled, whereby only a general description and a location thereof is required, without the need to specify in more detail each object that is part of the collection, which would make each of the individual objects individually determinable. Also, a general description of the claim that is the subject matter of the right of security is enabled, without the need to specify in more detail information about each claim, even when a larger number of claims are secured by the same right of pledge. In addition to the description of the secured claim, it is sufficient to state the principal and the maximum amount of the secured claim, that is, the maximum amount of the principal claim up to which the pledge right secures conditional or future claims.