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The New Belgian Act on Security Interests in Movable Property
Author(s) -
Dirix Eric
Publication year - 2014
Publication title -
international insolvency review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.125
H-Index - 7
eISSN - 1099-1107
pISSN - 1180-0518
DOI - 10.1002/iir.1225
Subject(s) - pledge , modernization theory , harmonization , security interest , civil code , business , law and economics , law , intellectual property , scope (computer science) , political science , sociology , computer science , programming language , physics , acoustics
Abstract The new Belgian Pledge Act of 11th July 2013 changes in a fundamental way the Belgian Civil Code as to security rights over movables. It contains a complete modernization of the legal framework regarding security rights over movables including the retention of title and the legal lien. The most important innovation is the possibility of a pledge over movable goods without dispossession of the pledger. It is expected that the new provisions will enter into force in 2015 when the new pledge register will be operational. The paper examines this reform from a comparative perspective against the background of legal harmonization in Europe.