ADVOKS GLOBAL · KENYA
Movable Property Security Rights Act
36. Post-registration change of grantor identifier
Edition: 2022-12-31 · In force
36. Post-registration change of grantor identifier
(1)If the grantor's identifier changes after a notice is registered and the secured creditor registers an amendment notice indicating the new identifier of the grantor within sixty days after the change but before the expiry of the period of effectiveness of the registered notice, the security right to which the notice relates remains effective against third parties and retains the priority it had over the rights of competing claimants before the change.(2)If the secured creditor registers an amendment notice after the expiration of the time period indicated in subsection (1)—(a)a security right with respect to which a notice is registered after the change in the grantor's identifier but before the registration of the amendment notice has priority over the security right to which the amendment notice relates; and(b)a person that buys, leases or licenses the collateral after the change in the grantor's identifier but before the registration of the amendment notice acquires the collateral rights free of the security right to which the amendment notice relates.