3. Exemption from the application of this Act

The following transactions shall be exempt from the application of the provision of this Act:—

the transfer of a claim for compensation of an employee;

the sale of accounts or chattel papers arising out of a part of a sale of a business;

the assignment of accounts or chattel paper instrumental for the purpose of collection only;

an obligation under a contract to assign the right of payment to an assignee; and

the transfer of an interest in goods held by the debtor as equipment or consumer goods, where the goods are registered under the Motor Traffic Act, No. 8 of 2009, Sri Lanka Ports Authority Act, No. 52 of 1979, the Merchant Shipping Act, No. 52 of 1971, the