Overview

A fundamental change concerns the extension of entities for which a registered pledge may be established. So far, registered pledges have been used to secure, among others, the receivable debts of the State Treasury and domestic and foreign banks. As a result of the amendment, it will be possible to establish a registered pledge on behalf of each entity, including natural persons not engaged in business activities and foreign legal entities which are non-credit institutions.

Furthermore, the amendment finally resolves the issue of a specific form for establishing a registered pledge on rights and shares. In accordance with the new provisions, in order for the agreement for a registered pledge on shares in a limited liability company to be valid, a standard written form is sufficient.