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Ministry of Justice

Republic of Tajikistan

 On January 7, 2019 No. 23

LAW OF THE REPUBLIC OF TAJIKISTAN

of January 2, 2019 No. 1576

About pledge of personal estate and registration of secured liabilities

Accepted by the Resolution MH MOPT of October 17, 2018, No. 1185

Approved by the Resolution MM MORT of December 25, 2018, No. 605

This Law governs the public relations connected with use of personal estate as pledge and registration of secured liabilities.

Chapter 1. General provisions

Article 1. Basic concepts

In this Law the following basic concepts are used:

- pledge - method of ensuring obligation fulfillment according to which the creditor according to the obligation provided with pledge (pawnbroker) has the privilege before other creditors to satisfaction of the requirements from the cost of pledged property of person to whom he belongs this property (pledger), in case of non-execution by the debtor of this obligation, except as specified, established by the law;

- pledge - pledge type when the pledged property is transferred by the pledger to ownership to the pawnbroker according to the pledge agreement;

- the pledger - person having the property right or other corporeal right regarding pledge including the debtor, according to the obligation provided with pledge or the third party who is not participating in this obligation;

- the pawnbroker - person whose requirements for primary obligation are provided with pledge;

- pawnshop - the legal entity (the specialized organization) occupied with provision of short-term loans instead of the personal estate of citizens which is under pledge, and also storage of personal estate of citizens;

- pledged property - the personal estate which is not withdrawn from civil circulation and also the property rights specified in article 5 of this Law, provided as a deposit;

- personal estate - the things which are not relating to real estate;

- the income from pledge subject - the property received as a result of transactions with subject of pledge or transactions with the income from pledge subject;

- The unified state register of secured liabilities (further - the Unified state register) - the single electronic information database of secured liabilities;

- the mortgage notification - the message of the creditor on its right to property of the debtor or the third parties which is entered according to this Law in the Unified state register electronically;

- registering body - the authorized state body determined by the Government of the Republic of Tajikistan which shall keep the Unified state register;

- the registered pledge - pledge or other providing concerning which in established by this Law procedure the mortgage notification is registered;

- the managing director of pledge - person authorized by the pawnbroker on use and the order pledged property from his name and the solution of any related question;

- receivables - the amount of the debts which are due to person, received as a result of economic relations with physical persons and legal entities;

- mixed goods - the inseparable goods connected to other goods which lose the identification physical signs in ready-made product;

- the developped goods - the razdelimy goods connected to other goods, which at the same time are not losing the identification physical signs in ready-made product;

- the creditor - the pawnbroker, the lessor or other physical person or legal entity which property requirements are provided with personal estate of the debtor;

- the debtor - the pledger or other physical person or legal entity providing personal estate in ensuring execution of the obligations, or obligations of the third parties;

- the pledge agreement - the written agreement about provision as proof of personal estate in ensuring obligation fulfillment of the pledger or the third parties which can be concluded in the form of the separate agreement or is included in other agreement containing conditions about pledge.

Article 2. Scope of this Law

1. This Law extends to the relations arising in connection with use of personal estate as pledge.

2. If the law does not provide other, for the purpose of ensuring transparency and single approach to protection of interests of creditors and debtors in the relations on use of personal estate, provisions of this Law regarding registration of the mortgage notification and priority of satisfaction of requirements of creditors from the same property are applied to:

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