New opportunities for refinancing issued mortgage loans will be created
Economy
On February 12, the Law No. O‘RQ-1028 was adopted, introducing amendments and additions to certain legislative acts.
According to the amendment to the Law "On Mortgage", changes to an electronic pledge note must be made by completing the form of an agreement (additional agreement) on modifying the electronic pledge note by its legal owner and pledger via the Unified Interactive Public Services Portal.
This law introduces amendments and additions to the laws "On Mortgage," "On the Securities Market," and "On Insolvency", establishing mechanisms for implementing electronic pledge notes in mortgage relations, fulfilling obligations secured by such notes, transferring rights to them to other persons, and defining other mechanisms for their use. Additionally, it is established that claims and pledge notes will not be included in the liquidation mass.
Specifically, according to the amendment to the Law "On Mortgage":
Changes to an electronic pledge note must be made through the Unified Interactive Public Services Portal by its legal owner and pledger.
The transfer of rights to electronic pledge notes is carried out by entering a corresponding record into the deposit account. The rights to the electronic pledge note are transferred to the recipient from the moment the record is entered into their deposit account and are confirmed by an extract from the account.
This law introduces amendments and additions to the laws "On Mortgage," "On the Securities Market," and "On Insolvency", establishing mechanisms for implementing electronic pledge notes in mortgage relations, fulfilling obligations secured by such notes, transferring rights to them to other persons, and defining other mechanisms for their use. Additionally, it is established that claims and pledge notes will not be included in the liquidation mass.
Specifically, according to the amendment to the Law "On Mortgage":
Changes to an electronic pledge note must be made through the Unified Interactive Public Services Portal by its legal owner and pledger.
The transfer of rights to electronic pledge notes is carried out by entering a corresponding record into the deposit account. The rights to the electronic pledge note are transferred to the recipient from the moment the record is entered into their deposit account and are confirmed by an extract from the account.
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