Movable Property Securities (Amendment) Bill, 2021

Proposed Provision for Amendment Proposed Amendment Our Comments
19 Insertion of subsection 2A, which states that the Registrar shall be the Registrar of Companies
appointed under section 831 of the Companies Act, 2015.

Deletion of subsection 3 meaning that the Board of Service will not be the body to appoint the Registrar and
the other staff of the Registry.

Since the services relating to the Act are accessed through the e-citizen platform, having all
the services provided by one body would hopefully make processing of requests faster. Further, it would
hopefully streamline the services to make them effective and avoid duplication of similar roles since only one
body would be in charge.
23 Renumbering the existing provision as (1) and then inserting a subsection (2) immediately after
it providing that the fees received by the Registrar under the Act shall be the funds of the Service i.e. The
Business Registration Service under the Business Registration Service Act, 2015.
Currently, the Act does not provide for what is to be done with the fees received under the Act.
Making this amendment would provide a means of accountability for the funds received under the Act.