ADVOKS GLOBAL · KENYA
Movable Property Security Rights Act
87. Continuity in third-party effectiveness upon a change of the applicable law to this Act
Edition: 2022-12-31 · In force
87. Continuity in third-party effectiveness upon a change of the applicable law to this Act
(1)If a security right is effective against third parties under the law of another country and this Act becomes applicable as a result of a change in the location of the collateral or the grantor, whichever determines the applicable law under the provisions of this Part, the security right remains effective against third parties under this Act until the earlier of—(a)the time when third-party effectiveness would have lapsed under the law of the other country; and(b)ten working days after the change and, thereafter, only if the third-party effectiveness requirements of this Act are satisfied before the expiry of that time period.(2)If the security right remains effective against third parties under subsection(1), the time of third-party effectiveness is the time when it was achieved under the provisions of the relevant law.