50. Financing statement

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

(1)

A financing statement-

(a)

may be filed before or after the security agreement to which it relates is made, except where the collateral consists of consumer goods;

(b)

may relate to more than one security right created or provided for in more than one security agreement between the parties, except where the collateral consists of consumer goods; and

(c)

shall include the following information:-

(i)

the name of the debtor;

(ii)

the debtor’s unique identification number;

(iii)

the name and address of the secured party or its agent;

(iv)

a description of the collateral in the prescribed manner;

(v)

the duration of the filing;

(vi)

the maximum amount of obligation secured; and

(vii)

such other information as may be prescribed.

(2)

A financing statement shall also disclose whether the secured party is a trustee.

Read on from s 51

Part VII

General Provisions

Read on from Part VII

Part VIII

Repeals and Savings

Read on from Part VIII

Part IX

Interpretation

Read on from Part IX