Electronic certificates from the pledge register

9-10-2009

On October 9, 2009 the Sejm adopted an amendment to the Act of December 6, 1996 on registered pledge and pledge register. The draft amendment provides that extracts/transcripts/certificates  from the pledge register issued electronically by the Central Information Office of Registered Pledges will have the value of official documents.

It means, in practice, that the change will improve and fasten economic turnover and, at the same time, will decrease costs of the entrepreneurs who use the institution of the registered pledge.

A similar change would be even more welcome in case of extracts/transcripts/certificates from land and mortgage registers and companies’ extracts/transcripts/certificates from the entrepreneurs’ register.

Contact: Mirosław Stefanik,

ms@pnplaw.pl

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