PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of December 31, 2015 No. 539

About the register of personal estate, pledged

For the purpose of strengthening of protection of the rights and legitimate interests of participants of civil circulation I decide:

1. Create the register of personal estate, pledged (further - the register), for accounting, storage and provision of data on pledge of personal estate.

2. Determine that:

2.1. the register represents the information system containing information on the rights of pawnbrokers to the personal estate belonging to pledgers, pledged (further - information) on the basis of which in case of the subsequent pledge the priority of the pawnbroker * on satisfaction of the requirements in relation to the rights and legitimate interests of other pawnbrokers at the expense of the same property of the pledger is determined;

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* For the purposes of this Decree the priority of the pawnbroker is understood as the right of the pawnbroker to receipt of satisfaction from the cost of the personal estate belonging to the pledger, pledged, is preferential before other pawnbrokers having the right to satisfaction from the cost of this property.

2.2. access to the register is provided with the operator and the owner of the register round the clock by means of the website on the global computer Internet;

2.3. the priority of the pawnbroker is determined by priority of entering of information into the register, except as specified, provided in subitem 2.9 of this Item;

2.4. information on encumbrance by pledge of any personal estate which according to the legislation can be pledge subject, except as specified, provided in Item 5 of this Decree is entered in the register;

2.5. entering of information into the register does not influence entry into force or validity of the pledge agreement of personal estate (further - the pledge agreement).

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