Section 5, The Borrowers and Lenders Act, 2014

(1) Subject to the Act, a lender may register a securityinterest covering a collateral created by a borrower in his favour. (2) A lender who wishes to register a security interest under sub-regulation (1) shall submit a registration form to the Collateral Registry. (3) A lender shall not submit a registration form under sub-regulation (2) unless he has - (a) established a user account with the Collateral Registry; and (b) paid the prescribed fees. (4) The Registrar shall prepare and keep an index of registered security interests in the Collateral Registry as public records. (5) The Registrar shall issue a certificate of the registration which shall be evidence of registration in any court proceedings. (6) The Registrar shall, upon request and payment of the prescribed fee, issue a printed search result in the form of a certificate which shall be irrefutable evidence of the existence of information in the Registry as of the date and time of its issuance.