Loosened information requirements for the registration application form.  The amendment to the “Enforcement Rules of the Personal Property Secured Transactions Act” was announced by the Executive Yuan on March 26, 2014. Highlights of the amendment include: (1) Launch of the “Nationwide Personal Property Secured Transactions Public Inquiry Website”. The website was launched by the Ministry of Economic Affairs on the same date as the announcement, to provide online search service of personal property secured transactions. (2) Loosening the requirements for the registration application form. When two parties have both agreed in the contract, applicants may offer the name, quantity, location, and other general information by which the subject property under registration can be specified to accomplish the registration without detailed information.

Michael Kao