Law On Measures To Facilitate The Mobilization Of Debts In The Financial Sector (1)

Original Language Title: Loi relative à des mesures diverses pour faciliter la mobilisation de créances dans le secteur financier (1)

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3 AOUT 2012. - Act respecting various measures to facilitate the mobilization of claims in the financial sector (1)



ALBERT II, King of the Belgians,
To all, present and to come, Hi.
The Chambers adopted and We sanction the following:
CHAPTER 1er. - General provision
Article 1er. This Act regulates a matter referred to in Article 78 of the Constitution.
CHAPTER 2. - Definitions
Art. 2. For the purposes of this Act, it shall be understood by:
1° "Financial Security Act": the Financial Security Act of 15 December 2004 and the provision of various tax provisions in respect of conventions constituting security rights and loans relating to financial instruments;
2° "bank debt": a bank debt within the meaning of Article 3, 10°, of the Financial Security Act;
3° "public or financial legal person": an institution within the meaning of Article 3, 11°, of the Financial Security Act and a Belgian or foreign mobilization agency;
4° a "financial institution": an establishment within the meaning of section 3, 12°, of the Financial Security Act;
5° a "mobilization organization":
(a) an organization that is registered with FSMA as a collective investment agency in receivables; or
(b) an organization that is listed on the list of institutional debt institutions with the Federal Public Service Finance, pursuant to section 108 of the Act of 20 July 2004 on certain forms of collective investment portfolio management; or
(c) other Belgian or foreign bodies:
(i) that perform and independently carry out the securitization operation and those participating in such transactions by taking care of all or part of the securitized risks (referred to as acquisition agencies) or by issuing securities intended to ensure the financing of the securities (referred to as issuing agencies); or
(ii) that acquires receivables or other property by issuing securities whose value or return depends on such receivables or property or that on the basis of a coverage by such receivables or property issue a guarantee for the benefit of the securities holders;
6° "the Act of 22 March 1993": the Act of 22 March 1993 on the Status and Control of Credit Institutions; and
7° a "curitization": the operation by which a mobilization agency acquires or assumes, directly or through another organization, the risks associated with receivables, other assets, or commitments made by third parties or inherent to the whole or part of the activities carried out by third parties by collecting financial means whose performance depends on these underlying risks.
CHAPTER 3. - Mobilization of bank receivables
Section 1re. - Public markets
Art. 3. Sections 23 and 41 juncto 23 of the Act of 24 December 1993 relating to public procurement and certain contracts of work, supplies and services and sections 43 and 55 juncto 43 of the Act of 15 June 2006 relating to public procurement and certain contracts of work, supplies and services are not applicable in the event of the sale or sale of a bank debt resulting from public contracts concerning the award of a loan or The assignment or sale is enforceable to the debtor of the bank receivable from the time when, respectively, the assignment or pledge has been served in the procuring power or in the public enterprise by exploiting or notified by registered letter. The service or notification must be made at the latest at the same time as the request for payment of the assignee or the creditor. A number of receivables, whether or not receivables, may be served by the same asset of bailiffs or notified by the same recommended letter. The procuring authority or the public enterprise shall notify the assignees of bank receivables and gagistic creditors, by registered letter, of the seizures or objections that were notified to him at the request of the privileged creditors.
Section 2. - Non-guaranteed credit openings by a mortgage
Art. 4. If an opening of credit is not guaranteed by a mortgage, a building privilege, a mortgage term or a mortgage promise within the meaning of section 50 of the Mortgage Credit Act of August 4, 1992, the following provisions apply:
1° a bank debt that arises from an advance made in connection with a credit opening may be transferred;
2° in the case of an assignment referred to in point 1°, the assignee also enjoys, in addition to the assigned bank receivable, privileges and security rights that guarantee the opening of credit, without prejudice to the amount that will remain due under the opening of the credit;
3° unless otherwise agreed between the assignor and the assignee, the assigned bank receivable referred to in point 1° shall be paid by priority in relation to the bank receivables of the head of advances made in connection with the opening of credit after that assignment; the bank receivables of the head of advances that are born before or on the date of the assignment are paid in the same rank as the bank receivables transferred unless the assignor and the assignee have contractually agreed to a by-law or subordination;
4° the right to use the opening of credit is suspended to the amount of the transferred advance remaining due by the borrower;
5° the assignor may at any time require that the assignee inform him of the amount due referred to in point 4.
Section 3. - Security other than hypothecaries, for future debts or for all amounts
Art. 5. Unless otherwise agreed, where the same privilege, pledges, leases on trade funds, or personal security guarantees several bank receivables, each secured receivable may be transferred and each assignee enjoys up to the assigned receivable of the advantage of privileges and security rights. Without prejudice to sections 51 to 53 of the Act of 4 August 1992 relating to mortgage credit, the by-laws and the subordinations established in order to settle the order of the payments of these bank accounts, including such by-laws or subordinations in favour of a special property of a credit institution that has issued Belgian bonds, are subject to full right to any third party other than the debtors of subordinated bank receivables or the debtors of Such a by-law or subordination may not prejudice the rights acquired by third parties prior to the date of the assignment or, if any, before the date of the by-law or subordination, unless expressly agreed by third parties.
Section 4. - Compensation and other exceptions
Art. 6. § 1er. Where the assignment or assignment of a receivable on a credit or financial institution related to services referred to in Article 3, § 2, of the Act of 22 March 1993 has been notified to or recognized by that institution, the latter may no longer invoke in respect of the assignee or the creditor, notwithstanding any link of connexity:
1° the legal or conventional compensation of the receivable given or pledged if the conditions of the compensation were met only after notification or recognition;
2° the exception of non-performance by which the payment of the assigned or pledged receivable would be suspended or diminished if the conditions of the non-performance exception are met only after notification or recognition.
§ 2. Where the assignment or pledge of a bank receivable by or to a credit institution, a financial institution or a mobilization agency has been notified to the debtor or has been recognized by the debtor, the debtor may no longer invoke the legal or conventional compensation of the assigned receivable or pledged in respect of the assignee or creditor, notwithstanding any link of connexity, if the conditions of the compensation are met
After the assignment or pledge of a bank debt by or to a credit institution, a financial institution or a mobilization agency, that the assignment or the assignment in pledge has been previously notified to the debtor or not, or that it has been recognized by the debtor or not, the debtor may no longer invoke in respect of the assignee or the creditor insolvency, notwithstanding any connection of conventional connexity,
§ 3. Where the assignment or pledge of a bank debt by or to a credit institution, a financial institution or a mobilization agency has been notified to the debtor or has been recognized by the debtor, the debtor shall no longer invoke in respect of the assignee or the creditor gagiste, notwithstanding any link of connexity, the exception of non-performance by which the payment of the receivable suspended or terminated if
After the assignment or pledge of a bank debt by or to a credit institution, a financial institution or a mobilization body, whether the assignment has been previously notified to the debtor or not, or that the debtor has recognized or not, the debtor may no longer invoke in respect of the assignee or the creditor, notwithstanding any link of connexity, the exception of non-performance by
§ 4. Not applicable:
1° § 1erin the event that the assignor or the pledge constituent is a public or financial legal entity and that the credit or financial institution may invoke a netting agreement within the meaning of the Financial Security Act that is part of a security agreement within the meaning of the Financial Security Act or a security agreement that contains a security right;
2° §§ 2 and 3 in the event that the debtor of the debtor of the debtor of the debtor of the debtor of the debtor of the debtor of the debtor may invoke Article 27 of the Law of 12 June 1991 on credit to consumption;
3° § 2 with respect to conventional compensation, in case the debtor is a public or financial legal person who may invoke a netting agreement within the meaning of the Financial Security Act that is part of a security agreement or a convention that contains such a security right.
§ 5. The provisions of §§ 1er to 5 do not constitute an obstacle to compensation that would be invoked or made for the realization of a claim or other security right that would strike the debt to be compensated.
Section 5. - Forms and accessories
Art. 7. § 1er. Without prejudice to section 22, paragraph 3, of the Act of 20 July 2004 on certain forms of collective investment portfolio management, where a bank debt is transferred to or by a credit institution, a financial institution or a mobilization agency, sections 1328 of the Civil Code, 26 of the Act of 12 June 1991 on consumer credit, 8 of Chapter II, Part Ier Book II of the Commercial Code and sections 18 and 20 of the Act of 15 April 1884 on agricultural loans, do not apply to this assignment. These same provisions do not apply to the pledge of a receivable for the benefit of or by such establishment or agency.
§ 2. Without prejudice to article 22, paragraph 4, of the Act of 20 July 2004 on certain forms of collective management of investment portfolios, where a bank receivable is transferred to or by a credit institution, financial institution or an organization of mobilization, the assignee acquires, by mere compliance with the requirements of Book III, Part VI, Chapter VIII of the Civil Code, all rights arising out of the insurance agreements of which the assignor has secured as A pledge of these same rights for the benefit of or by such an institution, body or special heritage results from the simple respect of the requirements of Book III, Title XVII of the Civil Code or Title VI, Book I of the Code of Commerce.
§ 3. A mandate to establish a pledge on trade funds is, unless expressly stated in the terms of reference, considered in full right to the benefit of the successors in a universal or special capacity of the holder of the secured bank receivable, including the assignees of the bank receivable. ÷ condition that the original creditor has met, at the time of the first assignment, the legal criteria to become the holder of a pledge on trade funds, the subsequent assignors of the bank receivable and the rights relating to the mandate, are not subject to compliance with these legal criteria.
When a bank debt is transferred to or by a credit institution, a financial institution or a mobilization agency, the assignee acquires, unless otherwise agreed between the assignor and the assignee, the rights enjoyed by the assignor under the terms of the mandate, up to the assigned receivable. The assignee may, unless otherwise agreed between the assignor and the assignee, exercise these rights with respect to the assignor and the agents designated in the warrant. On the basis of the terms of reference, the trade-based lease may be constituted for the benefit of the assignee before the assignee(s) and the debtor of the bonds transferred are aware of the assignment.
When one or more receivables that are secured by a warrant are, prior to the establishment of this pledge on trade funds, transferred to or by a credit institution, financial institution or a mobilization agency, the pledge which is constituted in accordance with the terms of reference guarantees, unless otherwise agreed between the assignor and the assignee, not only the existing and future receivables of the assignor described in the certificate of mortgage, but also guarantees The pledge may, at the option, be registered, either on behalf of the assignor or on behalf of the assignor and the assignee, or on behalf of the assignee alone. Regardless of the choice of the registration method, the assignee shall have rights under the pledge to a maximum of the receivable(s) that has been assigned to the assignee(s) and may exercise such rights in respect of the assignor who consents to the pledge and in respect of third parties.
Section 6. - Covered Belgian bonds
Art. 8. § 1er. The assignment of bank receivables, financial instruments and their accessories or other rights relating to them by or to an institution of credit emitter of covered bonds belgian, which under a disposal agreement is stipulated as an assignment against a price:
1° will be considered a sale of these assets if the assignment takes place in the context of or for the issuance of Belgian covered bonds or a programme of issuance of Belgian covered bonds;
2° is valid and enforceable to third parties and may therefore withdraw its effects, including in the event of insolvency or seizure proceedings or in the event of a competitive situation, if the assignment precedes the commencement of an insolvency proceeding, the occurrence of a seizure or a competitive situation, or if the assignment occurred after that time, if the counterparty may avail itself at the time that the agreement was entered into lawfulness of an opening or
§ 2. The registration of an asset referred to in section 64/20, § 2, of the Act of 22 March 1993 by a Belgian depository of covered bonds is valid and enforceable to third parties and may thus be effective if the registration:
(a) precedes the commencement of an insolvency proceeding, the occurrence of a seizure or examination; or
(b) was made on the very day of the commencement of insolvency proceedings, provided that the establishment may avail itself of a legitimate ignorance of the commencement of insolvency proceedings.
§ 3. Sections 8, paragraphs 8, 17 and 18, of the Bankruptcy Act of 8 August 1997 are not applicable to transfers referred to in § 1er, not the records referred to in § 2.
§ 4. A transfer or registration of assets referred to in §§ 1 shall not be impaired.er and 2 that pursuant to Article 1167 of the Civil Code or pursuant to Article 20 of the Bankruptcy Act of 8 August 1997.
Art. 9. § 1er. The registration of a bank debt in accordance with Article 64/20, § 2, of the Act of 22 March 1993 or the withdrawal of a receivable from that register for a re-employment in the general heritage of the Belgian depository credit institution for which the register is held, is treated in the same manner as a transfer of such receivables for the purposes of the provisions contained in Articles 2 to 7. The special heritage then has the quality of assignee in case of registration and the quality of transferor in case of withdrawal of the register.
§ 2. If the withdrawal of the register occurs following a transfer of bank receivables to a assignee other than the establishment of credit issuer of covered Belgian bonds for which the register is held, the provisions of Articles 2 to 7 are applicable to the assignment to the assignee and the withdrawal is a mere enforcement act relating to that assignment.
§ 3. The registration or withdrawal of an asset of the registry shall be the full proof of the registration or withdrawal of the assets in question of the special heritage to which the register relates, as well as of the date of that registration or withdrawal, if the register is held in accordance with the provisions of section 64/20, § 2, of the Act of 22 March 1993 and of the relevant enforcement orders, taken on the basis of section 64/20, 22 March 1993.
Section 7. - Application in time
Art. 10. § 1er. Sections of Chapter 3 shall apply to all agreements entered into before the coming into force of this Act, to any claims arising therefrom and to security rights and guarantees, including irrevocable warrants, which have been granted or date before its entry into force. Sections 3, 4, 5, 7 are not applicable to transfers or leases of bank receivables that:
1° date before this Act comes into force; or
2° shall take place after the coming into force of this Act but in execution of conventions which have been concluded before that date,
unless the assignee and assignor, or the gagiste creditor and the debtor are contractually agreed after the coming into force of this Act that sections 3, 4, 5 or 7 are applicable.
§ 2. § 1er does not affect the rights previously acquired by third parties.
CHAPTER 4. - Amendments
Section 1re. - Amendments to the Law of 4 August 1992 on Mortgage Credit
Art. 11. ÷ section 50 of the Act of 4 August 1992 on mortgage credit, as amended by the Act of 13 April 1995, the words "all claims for which a right to demand a mortgage guarantee has been stipulated, including a mortgage term or a mortgage promise" are inserted between the words "hypotheque" and "as well as".
Art. 12. In section 51 of the Act, replaced by the Act of 6 July 1994 and amended by the Act of 13 April 1995, the following amendments are made:
1° § 1er is replaced by the following:
« § 1er. Where a receivable referred to in section 50 is disposed of or given in pledges by or to an institution or, where applicable, to or by a special heritage or compartment of an institution that, at the time of assignment or pledge:
1° is a mobilization agency within the meaning of Article 2 of the Act of 3 August 2012 on various measures to facilitate the mobilization of claims in the financial sector; or
2° is a Belgian credit institution within the meaning of the Act of 22 March 1993 relating to the status and control of credit institutions, including, where applicable, a special heritage of a credit institution emittering from Belgian covered bonds within the meaning of this law;
3° is a financial institution within the meaning of Article 3, 12°, of the Financial Security Act;
Sections 5 and 92, paragraph 3, of the Mortgage Act of 16 December 1851 do not apply to this assignment or to this assignment. The assignor or the secured debtor of the receivable is required to provide, at the request of a third party, the necessary information as to the identity of the assignee or the secured creditor. »;
2° to § 2, 1er paragraph, the words "or in the context of an opening of credit stipulated with the right to require a mortgage guarantee, including a mortgage term or a promise of mortgage "are inserted between the words "marriage" and "may be assigned";
3° to § 2, paragraph 2, the words "and, unless otherwise agreed between the assignor and the assignee, the rights to require a mortgage guarantee" are inserted between the words "credit opening" and "any amount";
4° to § 2, paragraph 2 is supplemented by the words "Advances made before or on the date of the assignment shall be paid to a level equal to the advances granted, unless the assignor and the assignee have agreed on another by-law or subordination. Section 5 of the Mortgage Act of 16 December 1851 does not apply to such a by-law or subordination. Such a by-law or subordination shall not prejudice the rights acquired by third parties before the date of the assignment or, if any, before the date of the by-law or subordination, including the rights of the assignee or the creditor with existing receivables relating to advances that have been previously assigned or pledged, unless expressly agreed by such third parties. »;
5° to § 3, the words "The act" are replaced by the words "Without prejudice to section 92, paragraph 2, of the mortgage law of 16 December 1851, the";
6° the article is supplemented by a § 4, written as follows:
“§4. Unless otherwise agreed, a mortgage created for existing and future debts, determined or determinable on the basis of the description of the secured claims contained in the Mortgage Act, also guarantees in full right the receivables that correspond to this description and that have previously been transferred by the mortgage creditor to an institution, a facility of an institution or a special heritage, as referred to in § 1er, provided that this assignment has not yet been notified to the debtor of the receivable or recognized by that debtor at the time of the establishment of the mortgage.
The first paragraph also applies to assigned receivables that, at the time of the assignment, are not guaranteed by a mortgage, a building privilege or a right to require a mortgage guarantee, including a mortgage term or a mortgage promise. "
Art. 13. In article 51bis, § 3, of the same law, inserted by the law of 13 April 1995, the following amendments are made:
1° the words "whether or not in connection with a credit opening" are inserted between the words "a same mortgage" and "guarantees several claims";
2° the word "in accordance" is replaced by the words "in an institution or in a compartment of an institution, as provided";
3° the word "cédée" is inserted between the words "claim" and "is paid";
4° Article 51bis, § 3, is supplemented with the words "The receivables arising before or on the date of the assignment are paid to a level equal to the receivables given, unless the assignor and the assignee have agreed on another by-law or subordination. Section 5 of the Mortgage Act of 16 December 1851 does not apply to such a by-law or subordination. Such a by-law or subordination shall not prejudice the rights acquired by third parties before the date of the assignment or, if any, before the date of the by-law or subordination, including the rights of the assignee or the creditor of existing receivables that have been previously assigned or pledged, unless expressly agreed by such third parties. "
Art. 14. In Title III of the Act, an article 51ter is inserted as follows:
“Article 51ter. § 1er. A mortgage term is, unless otherwise expressly stated in the terms of reference, considered to be in full right as stipulated for the benefit of successors in a universal or special capacity of the holder of the secured receivable, including the assignees of the receivable. A promise of mortgage is, unless expressly stated otherwise, considered in full law as stipulated for the benefit of successors in a universal or particular capacity of the holder of the secured receivable, including the assignees of the receivable.
§ 2. When a receivable is disposed of in accordance with Article 51, § 1er, the assignee acquires, unless otherwise agreed between the assignor and the assignee, the rights of the assignor under a mortgage term or a promise of mortgage, up to the assigned receivable. The assignee may, unless otherwise agreed between the assignor and the assignee, exercise these rights in respect of the assignor and the agents designated in the warrant or in respect of those who have provided the mortgage promise. On the basis of the warrant or promise of mortgage, the mortgage may be made for the benefit of the assignee before the assignee(s) and the debtor of the bonds transferred are aware of the assignment.
§ 3. When one or more debts that are secured by a mortgage warrant or promise of mortgage are, prior to the establishment of the mortgage, transferred to an institution, to an institution's compartment or to a special heritage, as referred to in Article 51, § 1er, the hypothec that is constituted in accordance with the terms of reference or promise of mortgage guarantees, unless otherwise agreed between the assignor and the assignee, not only the existing and future receivables of the assignor described in the Mortgage Act, but also guarantees in full right the receivables that have been previously disposed of by the assignor to the assignee. The mortgage may, at the option, be registered, either on the sole behalf of the assignor or on behalf of the assignor and the assignee, or on the sole behalf of the assignee. Regardless of the choice of the registration method, the assignee is entitled to mortgage rights up to the (of) receivables that have been assigned to him or her and may exercise these rights in respect of the person who consents to the mortgage and in respect of third parties.
§ 4. When a mortgage is constituted in the execution of a mortgage term or a promise of mortgage, the receivables assigned before or after the establishment of the mortgage to an institution, a special heritage or a compartment of an institution, as referred to in Article 51, § 1er, are paid preferably in relation to the receivables that are born after the date of the assignment and that without distinction as to whether or not the receivable is within the framework of an appropriation of credit. Claims arising prior to or on the date of the assignment shall be paid by equal to the assigned receivables, unless the assignor and the assignee have agreed on another by-law or subordination. Section 5 of the Mortgage Act of 16 December 1851 does not apply to the regulation of rank or subordination under this section. Such a by-law or subordination may not prejudice the rights acquired by third parties prior to the date of the assignment, or if necessary prior to the date of the by-law or subordination, including the rights of the assignee or the creditor of existing receivables that have been previously assigned or pledged, unless expressly agreed by such third parties. "
Art. 15. In the same vein, an article 51quater is inserted, which reads as follows:
“Article 51quater. Where, in lieu of a mortgage term, a mortgage promise or an existing mortgage, a new mortgage term, a new mortgage promise is made or a new mortgage is constituted, such a mortgage term, such a mortgage promise or a mortgage term, shall be deemed to be a security right, unless otherwise agreed between the assignor and the assignee, orer. "
Art. 16. In the same vein, an article 51quinquies is inserted, which reads as follows:
"Article 51quinquies. § 1er. When a debt that has been assigned to an institution, a special heritage or a compartment of an institution, as referred to in Article 51, § 1er, is ceded by this institution, this special heritage or this compartment of an institution:
1° the assignee also acquires the rights that the institution, special heritage or compartment holds in accordance with sections 50 to 51quater, including rights relating to privileges, mortgages, promises of mortgages and mortgages or mortgages constituted under a warrant or promise of mortgage;
2° the receivable retains its rank determined according to articles 51bis, § 3, and 51ter, § 4, unless otherwise stipulated in the disposal agreement. Section 5 of the Mortgage Act of 16 December 1851 does not apply to such a by-law or subordination.
§ 2. When a debt is pledged for or by an institution, special heritage or a compartment of an institution, as referred to in Article 51 § 1er :
1° the pledge extends, unless otherwise provided in the pledge, to the rights of the pledge grantor in respect of the mortgage term, the mortgage promise or the mortgage created under the mortgage term or the mortgage promise;
2° the secured creditor may, unless otherwise provided in the pledge, exercise in respect of the third parties, the principal and the agents specified in the warrant and in respect of the person who provided the promise of mortgage, the rights of the pledge grantor in respect of the mortgage warrant or the promise of mortgage or the mortgage constituted under the mortgage warrant or the promise of mortgage. The hypothec may, at the option, be registered, either on the sole name of the gage constituent, or on behalf of the gage constituent and the assignor who gave the debt to the gage constituent, or on the sole name of the assignor of the receivable. "
Art. 17. In the same vein, an article 51sexies is inserted, which reads as follows:
"Article 51sexies. In the case that a debt that is integrated with a large mortgage to the wearer or in order is transferred or pledged to the benefit of or by an institution, special heritage or compartment of an institution, within the meaning of Article 51, § 1er, the provisions of Articles 50 to 51quinquies included shall apply to such assignment or pledge, without any endorsement or surrender of the title to the assignee or to the secured creditor being necessary. "
Art. 18. In the same vein, an article 51ssepties is inserted, which reads as follows:
“Article 51s. § 1er. The registration of a receivable in accordance with Article 64/20, § 2, of the Act of 22 March 1993 relating to the status and control of credit institutions or the deletion of a receivable of that register for a re-employment in the general heritage of the Belgian covered bond issuing institution for which the register is held, is treated in the same manner as a transfer of these receivables for the purposes of the provisions stipulated in the articles ex The special heritage then has the quality of assignee in the event of registration and the quality of assignor in the event of the cancellation of the register.
§ 2. If there is a deletion of the registry due to the assignment of receivables to an assignee other than a credit-issuer establishment of covered Belgian bonds for which the register is held, the provisions of sections 51 to 51sexies of this Act are applicable to the assignment to the assignee and the deletion constitutes a mere enforcement act relating to that assignment. "
Art. 19. In section 53 of the Act, replaced by the Act of 13 April 1995, the following amendments are made:
1° the words "the whole or part of "are inserted between the words "the sale of" and "the mortgage activity";
2° the words "or all or part of the portfolio of these receivables" are inserted between the words "pension activity" and ", by a company";
3° the article is supplemented by a second paragraph written as follows:
"Articles 51, 51bis, § 3, 51ter, 51quater, 51quinquies and 51sexies are also applicable where the assignment referred to is carried out in accordance with this Article 53 by or to a company subject to Part II of this Law. »
Art. 20. § 1er. Subject to §§ 2 and 3, the articles of the Act of 4 August 1992 relating to mortgage credit, as amended or introduced by this Act, shall apply to all agreements entered into before the entry into force of this Act, to the receivables arising therefrom and to security rights, including mortgage warrants and mortgage promises, as well as to the assignments or pledges referred to in Article 51 §er, which were granted or date before its entry into force.
§ 2. By exception to § 3, the amendments to article 51bis, § 3, and new articles 51ter, §§ 2 to 4, 51quater, 51quinquies and 51sexies of the law of 4 August 1992 relating to mortgage credit are not applicable to assignments or pledges of receivables which:
1° date before this Act comes into force; or
2° shall take place after the coming into force of this Act but in execution of conventions which have been concluded before that date.
§ 3. Notwithstanding § 2, the amendments to Article 51bis, § 3, and the new provisions of the Law of August 4, 1992 relating to the mortgage credit, referred to in § 2, shall apply to the assignments and pledges of receivables made pursuant to conventions which have been entered into before the date of entry into force of this Law, that the assignments or pledges take place before or after the entry into force of this Law
§ 4. §§ 1er to 3 does not infringe on the rights previously acquired by third parties.
Section 2. - Amendment to the Consumer Credit Act
Art. 21. In section 25 of the Consumer Credit Act of 12 June 1991, as amended by the Act of 13 June 2010, the words "who received the appropriate authorization to make such investments" are repealed.
Section 3. - Amendments to the Financial Security Act
Art. 22. In Article 4/1, § 1er, of the Financial Security Act, inserted by the Act of 26 September 2011, the first sentence is replaced by the sentence:
"Without prejudice to Title III of the Mortgage Credit Act, where a bank debt guaranteed by a mortgage or by a building privilege is pledged or transferred by contract in accordance with this Act and when section 51, § 1er of the Mortgage Credit Act does not apply, sections 5 and 92, paragraph 3, of the Mortgage Act of December 16, 1851 do not apply to this assignment or assignment. "
Promulgate this law, order that it be clothed with the seal of the State and published by the Belgian Monitor.
Given at Châteauneuf-de-Grasse, August 3, 2012.
ALBERT
By the King:
Minister of Finance,
S. VANACKERE
The Minster of the Economy,
J. VANDE LANOTTE
The Minister of Justice,
Ms. A. TURTELBOOM
Seal of the state seal:
The Minister of Justice,
Ms. A. TURTELBOOM
____
Note
(1) References to parliamentary work:
Documents of the House of Representatives:
53 2341/(2011/2012):
001: Bill.
002: Amendments.
003: Report.
004: Text adopted by the commission.
005: Text adopted in plenary and transmitted to the Senate.
Annales de la Chambre des représentants : 18 juillet 2012
Documents of the Senate:
5-1763 - 2011/2012:
001: Project referred to by the Senate.
002: Report.
003: Decision not to amend.
Annales of the Senate: July 19, 2012.