Register of pledges established

Belarus: The register helps to set the priority for satisfaction of pledgeholders’ claims on movable property.

On 1 of September the Register of Pledges began operations. Pledgeholders can file information on movable property. This establishes whose claim will be satisfied first, depending on the date of filing.

Filing information with the register is either (i) free of charge (with registration on the website or (ii) for a fee (with the services of a notary or the register operator).

In general, information from the register will be available for a fee. The amount depends on how long the website is used to obtain information from the register or on the number of requests. For example, a monthly subscription to the register costs 147 Belarusian roubles (approx. EUR 66.8).

Information filed is not checked by the register operator or notary. Instead, the pledgeholder is responsible for completeness and correctness, including damage caused to others due to filing incorrect or incomplete information. Anyone who does not agree with information there can complain via the website.

Source: National legal Internet portal of the Republic of Belarus (NLIP) 15.01.2016, 1/16208

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