Methods for Registration of Mortgage of Chattels
January 31, 2008 | BY
clpstaff &clp articlesBusiness people and lawyers have often complained of the vagueness and impracticalities of China's legal rules regulating the filing of charges over chattels. With the advent of the New Methods for Registration of Charges of Personal Properties, much light is shed and many problems removed; yet ambiguities still abide around several key issues.
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By Zhang Zheng of Haiwen & Partners*
Following the promulgation of the Law of Property (中华人民共和国物权法) in 2007, the State Administration of Industry and Commerce (SAIC, and its counterparts at various places and levels referred to as AIC) publicized the Methods for Registration of Charges of Personal Properties (New Methods) on October 17 2007. The New Methods replace the Administrative Methods for Registration of Charged Properties by Enterprises (Old Methods) promulgated on January 23 2002, and take effect on the date of its publication.