Section 7
Contents Of Initial Notice
(1) An initial notice shall state the following matters, at a minimum:
(a) The name, address and other particulars of the security giver;
(b) The name, address and other particulars of the security holder or an agent of the security holder;
(c) Details relating to collateral. Provided that such notice shall also provide a description of the relevant immovable property if it covers timber to be cut, minerals to be extracted or fixtures to collateral.
(2) A security giver or a person authorized by the security giver may file an initial notice with the Registration Office in accordance with this Act. The deed of authorization given by the security giver need not be contained in such notice.
(3) Where a security giver has concluded a security agreement, the security giver shall be deemed to have authorized the filing of an initial notice or amendment covering the collateral described in the security agreement or proceeds of such collateral, whether or not the security agreement expressly provides about such collateral and proceeds from such collateral.
(4) An initial notice may be filed pursuant to this Section before a security agreement is concluded or before a security interest attaches to collateral.
(5) An initial notice shall be considered to be effective pursuant to this Act if the notice complies with the other requirements contained in this Chapter and does not mislead despite that the notice does not contain any such matter as required to be contained under this Section.
(a) The name, address and other particulars of the security giver;
(b) The name, address and other particulars of the security holder or an agent of the security holder;
(c) Details relating to collateral. Provided that such notice shall also provide a description of the relevant immovable property if it covers timber to be cut, minerals to be extracted or fixtures to collateral.
(2) A security giver or a person authorized by the security giver may file an initial notice with the Registration Office in accordance with this Act. The deed of authorization given by the security giver need not be contained in such notice.
(3) Where a security giver has concluded a security agreement, the security giver shall be deemed to have authorized the filing of an initial notice or amendment covering the collateral described in the security agreement or proceeds of such collateral, whether or not the security agreement expressly provides about such collateral and proceeds from such collateral.
(4) An initial notice may be filed pursuant to this Section before a security agreement is concluded or before a security interest attaches to collateral.
(5) An initial notice shall be considered to be effective pursuant to this Act if the notice complies with the other requirements contained in this Chapter and does not mislead despite that the notice does not contain any such matter as required to be contained under this Section.