On 22nd Feb 2019, the State Administration for Market Regulation issued the draft for comment on Measures for the Registration of Movables Mortgage (Amendment) (the “Regulation”). The feedback can be sent to wjshtc0629@163.com before 8th March 2019.
Shanghai Dongjin finds the below main changes.
- Due to the change of the authority’s name, “The Administrative Authorities for Industry and Commerce” has been updated to “Administration for Market Regulation”.
- The location, ownership and use right of mortgaged property is no longer mentioned on the Registration Certificate of Movables Mortgage.
- The application is no longer processed on the spot. The parties can make online application for set up, change and cancel the registration of movables mortgage
- The public can inquire about the registration information of movables mortgage through this online system.
We will keep on the close eye on its followings.
If you have any question, please contact me.
Mr. Mike Chang
TEL: 0086-21-68868321 / FAX: 0086-21-68868021