Justice Standing Committee conducted final discussions on the draft laws on Movable Property and Collateral of Intangible Property.
MP J.Batzandan has introduced on the results and conclusions of the discussions held by Justice Standing Committee.
According to an announcement there is no official unified registry of the Movable Property and Collateral of Intangible Property, therefore violations of using one property as collateral for several borrowers have been quite common violating the rights of the borrower and the law aims to regulate those relations.
Moreover, majority of the Standing Committee members have supported the proposal to start the implementation of the law on September 1st of 2016.
Law Draft on Movable Property and Collateral of Intangible Property is to be discussed by the State Great Khural.
Justice Standing Committee conducted final discussions on the draft laws on Movable Property and Collateral of Intangible Property.
MP J.Batzandan has introduced on the results and conclusions of the discussions held by Justice Standing Committee.
According to an announcement there is no official unified registry of the Movable Property and Collateral of Intangible Property, therefore violations of using one property as collateral for several borrowers have been quite common violating the rights of the borrower and the law aims to regulate those relations.
Moreover, majority of the Standing Committee members have supported the proposal to start the implementation of the law on September 1st of 2016.
Law Draft on Movable Property and Collateral of Intangible Property is to be discussed by the State Great Khural.