Last Change:

01/23/2025

The Movable Property Security Rights Act

Year: 2017

Type: Domestic law

Rights Category: Housing, land & property

Link to external source: https://kenyalaw.org/kl/fileadmin/pdfdownloads/Acts/MovablePropertySecurityRightsAct2017.pdf
Description

This Act facilitates the use of movable property as collateral for credit facilities, establishing a framework for the registration of security rights in movable property.

Selected provisions
Section 4 - Scope of application

A security right is created by a security agreement, which shall— (a) be in writing; (b) relate to a secured obligation; and (c) describe the collateral in a manner that makes it reasonably identifiable.