Section 14, The Borrowers and Lenders Act, 2014

(1) The assets encumbered or to be encumbered by asecurity interest shall be described in a manner that adequately allows their identification. 10 11 Lenders Description of collateral. Borrower’s (2) A description which indicates that the collateral consist of all of the borrower’s movable assets within a particular category, shall satisfy the standard referred to in sub-regulation (1). (3) A serial-numbered collateral shall be described by its serial number and the name of the manufacturer. PART V – AMENDMENTS