57. Notice of transfer

Where in relation to a security right the secured party transfers an interest in the collateral, an amendment statement disclosing such transfer may be filed.

The transferee of a security right or of receivables, which are subject of a transaction specified in section 2, shall not be required to file an amendment statement in order for the effectiveness of the registration to be continued against an administrator or a liquidator or a person referred to in section 5.

Where an amendment statement is filed under subsection (1), but an interest in part of the collateral is transferred, the statement shall include a description of the interest in part of the collateral which is transferred.

An amendment statement disclosing a transfer of a security right may be filed before or after the transfer.

Once an amendment statement is registered, the transferee shall be regarded as the secured party for the purposes of this Act.

Where, in relation to an unperfected security right the secured party transfers an interest in the collateral, a financing statement may be filed in which the transferee is disclosed as the secured party.