Secured Transactions Act 2009 · As enacted · Part II · Secured Transactions
7. Maintenance of Secured Transaction Register
Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
Official translationFrom Department of Government Printing, unchanged
There shall be maintained a Secured Transactions
Register (hereinafter referred to as the “Register”) which shall for the purposes of this Act be maintained by the Credit
Information Bureau of Sri Lanka established under the Credit
Information Bureau of Sri Lanka Act, No. 18 of 1990. In addition to the powers specified in the said Credit
Information Bureau of Sri Lanka Act, the Bureau shall have the following powers, duties and functions:—
to maintain in the manner as prescribed the Register of Secured Transactions and the process of registration of security interest of movables in such
Register;
to register a notice of a security interest in collateral filed by any person specified in item (a), (b), (c), (d)
and (e) of section 2;
to register a notice of interest of a judgment-creditor; and
to maintain records of all expired notices for a period of ten years from the date of expiry thereof.
The powers, duties and functions in relation to registration of security interest of movables shall be carried out by the officers and servants of the Bureau under the directions of the Board of Directors of the Credit Information
Bureau of Sri Lanka appointed under section 5 of the Credit
Information Bureau of Sri Lanka Act, No. 18 of 1990 :
Provided that in carrying out the powers, duties and functions in relation to registration of the security interest of movables such officers and servants shall be subject to such regulations and rules as may be made from time to time as provided for under this Act.
Part III
Amendment, Continuation and Termination of the Notice
Part IV