Goods Mortgages Bill (HL Bill 148)

Contents

  1. Part 1

    Introductory

    1. 1. Overview

  2. Part 2

    Creation of goods mortgages

    1. Goods mortgages

      1. 2. Goods mortgages

      2. 3. Goods mortgages: co-owners

      3. 4. Qualifying goods

      4. 5. Requirements to be met in relation to instrument

      5. 6. Excluded obligations

      6. 7. “The high net worth conditions” and “the business credit conditions”

    2. Other non-possessory security on goods

      1. 8. Other non-possessory security on goods

  3. Part 3

    Registration and rights of third parties

    1. Registration

      1. 9. Registration of goods mortgages

    2. Further advances

      1. 10. Tacking and further advances

    3. Position of third parties

      1. 11. Duty of owner to disclose existence of goods mortgage

      2. 12. Effect of change in ownership of goods

      3. 13. Meaning of “private purchaser” in section 12

      4. 14. Bankruptcy of owner of goods subject to goods mortgage

  4. Part 4

    Rights of mortgagors and mortgagees

    1. General provisions about taking of possession by mortgagees

      1. 15. Right of mortgagee to take possession of goods

      2. 16. Entry onto premises

      3. 17. Mortgagee’s power of sale

      4. 18. Goods seized not to be sold until five days have passed

    2. Protection of mortgagors

      1. 19. Possession notice required while goods are owned by mortgagor

      2. 20. Possession notice

      3. 21. Defaults under consumer credit agreements

      4. 22. Wrongful taking of possession by mortgagee

      5. 23. Mortgagor’s right to terminate

      6. 24. Additional powers of court where mortgagee seeks possession of goods

    3. Taking of possession by mortgagee after change of ownership

      1. 25. Order for taking of possession while goods owned by third party

    4. Supplementary

      1. 26. Exempt goods mortgage

      2. 27. Contracting-out forbidden

      3. 28. Interpretation of Part 4

  5. Part 5

    Repeals and final provisions

    1. Repeals

      1. 29. Repeal of Bills of Sale Acts 1878 and 1882

    2. Final provisions

      1. 30. Regulations

      2. 31. Meaning of “credit” and “credit agreement”

      3. 32. Meaning of “disposition” etc

      4. 33. Further general definitions

      5. 34. Consequential amendments

      6. 35. Commencement

      7. 36. Index of defined terms

      8. 37. Short title and extent

    1. Schedule 1

      Running-account credit: supplementary provisions

    2. Schedule 2

      Consequential amendments