The Security Interest in Movable Property Registry is a fully electronic notice-based registry system. It can be accessed online by persons authorized to register and the public for searches, at any time of the day. Interaction with the System can be done from anywhere in the world through an internet connected device.
The Registry serves the following vital functions:
- i. Registration, amendment, cancellation and discharge of security interests and liens in movable property;
- ii. Searches conducted using the established criteria;
- iii. Certifications; and
- iv. Priority between registered competing claims in the same collateral.
HOW TO ACCESS THE REGISTRY
Generally, only secured creditors like Commercial Banks, Microfinance Institutions, Savings and Credit Cooperative Organizations, leasing Companies, judgement lien holders and their representatives are authorized to create user accounts and effect registrations through the online portal at www.simprs.go.ug
Any person can conduct an electronic search on the Register to determine whether a particular movable asset is encumbered, and even request for a certified search report.