The information about securities will be included in the Register of Real Movable Guarantees. The technical conception for working out the automated information system and the regulations concerning its functioning were approved by the Government, IPN reports.
The Register of Real Movable Guarantees will include a number of registers such as the Register of Holders of Nominative Movables, the Register of Holders of State Movables, the Register of Intellectual Property and the Register of Security. This way the information about the existent securities will be brought together.
The register, which will be a public one, will be kept by the Ministry of Justice through the Legal Information Center. The access to it will be active and passive. Active access will be enjoyed by authorized operators, such as notaries and other categories of people who will meet the requirements. Passive access means that any interested person will be allowed to only view the information.
The register will be designed with the funds allocated to the Ministry of Justice. Money will also be needed for developing this platform and including other guarantees than security. These costs will be partially covered with taxes for registering the security and for providing information from the register.
The public authorities, courts of law, bailiffs, authorized managers, prosecution bodies and tax bodies will have free access to the information from the register. The unauthorized access to the register and the damaging, falsification and destruction of information from it will be punished in accordance with the law.
According to Minister of Justice Vladimir Cebotari, the Register of Real Movable Guarantees will be the only official source of information about the registered guarantee rights over movables. It will help increase debtors’ credibility and creditors’ safety and will also be a safe source of information for potential investors that intend to establish business contacts with Moldovan economic entities.
