The Movable Property Security Rights Bill, 2016 seeks to provide
- for the use of movable property as collateral for credit facilities,
- to establish the office of the Registrar of security rights,
- to promote consistency and certainty in secured financing relating to movable assets,
- to enhance the ability of individuals and entities to access credit using movable assets
- and to establish a Registry to facilitate the registration of notices relating to security rights in movable assets.
The Bill has been developed by the Kenya Law Reform Commission in collaboration with the Office of the Attorney General& Department of Justice through the registrar general's Office and the National Treasury with the support of the FSD-Kenya and the World bank.