Handbook on the Albanian Collateral Law
On October 18, 1999, albania passed the Law for Securing Charges, which in many of its concepts and features has no precedent in prior Albanian law. This is a complex law, for it bears on the rights annd conduct of creditors, debtors, and a range o...
| Main Authors: | , |
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| Format: | Publication |
| Language: | English en_US |
| Published: |
Washington, DC: World Bank and the International Finance Corporation
2013
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2001/10/1683368/handbook-albanian-collateral-law http://hdl.handle.net/10986/14049 |
| Summary: | On October 18, 1999, albania passed the
Law for Securing Charges, which in many of its concepts and
features has no precedent in prior Albanian law. This is a
complex law, for it bears on the rights annd conduct of
creditors, debtors, and a range of other persons who can be
affected by securing charges, and it provides for a modern,
computer-based registry system. This report provides a
detailed explanation of the Law for Securing Charges as well
as of related legislation. It concentrates on the issues
central to the functioning of the new law, and because it is
intended for a wide audience, it relies on no-technical
language wherever possible. In addition, it pays special
attention to the new terminology introduced by the Law for
Securing Charges. The largest part of this report deals with
the Law for Securing Charges and Regulations of Securing
Charges. It begins with a description of the context in
which the Law for Securing Charges functions and an overview
of the basic concepts contained in the Law for Securing
Charges. Part A presents the Law. Part B presents the
revised Article 605 of the Civil Code. Part C provides the
annotated Regulations of Securing Charges applicable to the
Registry of Securing Charges. It also includes a short
commentary on the Albanian Government decision limiting its
liability for damages caused as a result of malfunctioning
of the registry system. Appendix A details the instructions
for completing registry notices and for obtaining searches. |
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