The registration application for strike-off of a registered pledge is available in the section “Forms”.
INSTRUCTIONS ON HOW TO COMPLETE THE REGISTRATION APPLICATION FOR STRIKE-OFF OF A REGISTERED PLEDGE
The registration application for strike-off of a registered pledge can be submitted by:
- the pledge creditor;
- the pledger;
- an interested party.
If the applicant is a legal entity, the application shall be signed by the legal representative of the company or other legal entity, a representative who is authorized by an act or decision by the competent body of the company to represent the company, and the procurator.
The application may also be submitted by another authorized person, i.e. a proxy, whereby the authorization, i.e. a power of attorney for representation, shall be attached to the registration application. The procurator cannot transfer the authorization for representation to a third person.
If the applicant is a natural person and the application is submitted through a proxy who is not an attorney-at-law, the application shall be accompanied by a power of attorney certified by the body responsible for the certification of signatures.
The natural person who submits the application shall be obliged to submit proof of identity with the application. In the case of a domestic national, s/he shall submit a photocopy of his/her identity card, and in the case of a foreign national, s/he shall submit a photocopy of his/her passport.
In addition to the pledge creditor and the pledger, the application may be submitted also by an interested party, i.e. a person who has a certain legal interest that a registered pledge is struck off the Pledge Register (e.g. the debtor, when the debtor and the pledger are not one and the same person; a person who bought the pledged asset in an out-of-court or court sale procedure is authorized to submit a registration application for strike-off of a registered pledge, and other interested parties). The interested party should submit the appropriate evidence (a photocopy is also allowed), which provides the grounds of the party’s capacity (e.g. when a new owner of the pledged asset submits the application, it is necessary that s/he submits the legal grounds based on which s/he acquired the right of ownership over a particular asset and, accordingly, the capacity of a party interested in submitting the application), unless this capacity of the applicant can be determined directly, by inspecting the registered data of the subjet pledge (e.g. the debtor submits the application, where the debtor and the pledger are not one and the same person) or by inspecting the Register of Business Entities (e.g. in the case of a status change of the party – the applicant).
Page 1 – “Information on the applicant”
If the applicant submits the application directly, at the Agency, it is necessary to indicate in the application form whether s/he requests to be issued a certificate on the submitted application.
If the applicant acts upon a previously rejected application, the number of the decision rejecting the previously submitted application must be entered in the application form.
The applicant shall indicate the number under which the right of pledge, whose striking-off is requested, is registered in the Pledge Register.
In the section “Information on the applicant”, it is necessary to mark the appropriate box relating to the general information on the applicant, by ticking the box in front of the appropriate name. If the applicant is a natural person, the fields contained on the left-hand side of the form shall be filled out. If the applicant is a legal entity or a state authority, the fields on the right-hand side of the form shall be filled out, in particular:
- for a natural person who is a domestic national, it is necessary to state the first and last name, unique master citizen number (“JMBG”), place and country of residence, street and street number of residence/domicile; for a natural person who is a foreign national, it is mandatory to state the first and last name, passport number, passport issuing country, place and country of residence, street and street number of residence/domicile;
- for a domestic legal entity or state authority, it is necessary to state the registered business name/name, registration number and address of the registered office; if the party to a right of pledge is a foreign legal entity, it is necessary to state the registered business name, the designation under which it is kept in the foreign register, the name of that register, place and country of the registered office and address (street and number) of the registered office.
If the registration application is submitted by a natural person - his/her signature, or the signature of the proxy, shall be affixed to the first page of the application form, and if the proxy is an attorney-at-law, his/her seal shall be affixed as well.
If the registration application is submitted by a legal person - the seal and the signature of the authorized person shall be affixed to the first page of the application form. If the registration application is submitted by a proxy of the legal entity, the proxy’s signature shall be affixed to the application form, and if the proxy is an attorney-at-law, his/her seal shall be affixed as well.
As of 1 October 2018, business entities are not obliged to use their seals in business letters and other documents (Article 25 of the Company Law, Official Gazette of the RS, Nos. 36/2011, 99/2011, 83/2014 - other law, 5/2015, 44/2018, 95/2018 and 91/2019).
If the registration application is submitted by a proxy who has deposited his/her power of attorney with the Serbian Business Registers Agency, it is necessary to indicate the number under which the power of attorney was deposited.
The capacity of the signatory of the application shall be indicated in the application form, by ticking the box in front of the appropriate name (the pledge creditor, personally; proxy/representative of the pledge creditor; the pledger, personally; proxy/representative of the pledger; interested party; proxy/representative of the interested party). If the application is submitted through the proxy or representative, it is necessary that his/her first and last name and capacity are stated in the field provided in this respect.
Page 2 - “Method of delivery of the Registrar’s decision and accompanying documentation”
A written copy of the Registrar's decision is delivered only at the explicit request of the applicant. This means that the applicant has to state in the application form that s/he requests the delivery of the Registrar's decision and choose one of the offered delivery methods. If the applicant fails to do so, a written copy of the Registrar's decision will not be delivered, and the applicant will be able to get acquainted with the content of the decision through the website of the Serbian Business Registers Agency, the Pledge Register.
In the field “Documentation attached to the application”, it is necessary to specify each individual document attached to the registration application form, including proof of payment of the registration fee.
Page 3 - “Legal grounds for striking a right of pledge off the Pledge Register”
On page 3, ensure to mark a box next to the appropriate legal grounds for striking the right of pledge off the Pledge Register.
If the pledger/debtor has repaid the debt to the pledge creditor in full, it is necessary to tick the box next to “Payment of the debt”.
If the right of pledge is struck-off on the grounds of the pledge creditor’s pledge release statement, it is necessary to tick the box next to “Pledge Release Statement”.
The proxy must be explicitly authorized to sign the pledge release statement (a special power of attorney is required).
If the pledged asset has been sold in a court or out-of-court procedure, it is necessary to tick the box next to “Sale of the pledged asset in a court or out-of-court procedure”.
If the pledge agreement has been terminated (for example, by an agreement to terminate the agremeent, due to the substitution of the collteral, etc.), it is necessary to tick the box next to “Termination of the agreement”.
If the pledged asset has perished, it is necessary to tick the box next to “Perishing of the pledged asset”.
If the legal grounds for the strike-off of a right of pledge do not fall into any of the above categories, it is necessary to tick the box next to “Other methods of termination”.
Grounds for the strike-off:
- debt relief by the pledge creditor - the waiver of the pledge creditor from his right to demand from the debtor to fulfil the obligation to pay the debt, and the debtor consents to this;
- confusion/merger - the debtor's obligation to pay the debt to the pledge creditor ceases when one and the same person becomes both the pledge creditor and the pledger/the debtor;
- consolidation - when the pledge creditor acquires the right of ownership over the object of the right of pledge;
- a court decision establishing that the right of pledge has ceased;
- a court decision by which the pledge agreement or the contract whose claim is secured by a pledge right has been annulled or terminated;
- a court decision suspending the enforcement and revoking the conducted enforcement actions, if this is a judicial right of pledge registered on the basis of the minutes on the inventory and assessment of movables;
- an appropriate decision by the tax authority - the consent of the authorized person of the tax authority to strike-off the right of pledge, etc.
In the field “Detailed description” it is necessary to provide more specific details on the grounds for termination.
For example: when the legal grounds for strike-off of the right of pledge is a court decision annulling the pledge agreement, it is necessary to state in this field the name of the court that rendered the decision, the number and date of the decision, more details about the annulled pledge agreement, etc.; the original copy of the final court decision must be submitted with the application.
DOCUMENTATION TO BE ATTACHED TO THE APPLICATION
The documentation to be attached to the registration application is prescribed by the Rulebook on the Content of the Register of Pledges on Movable Property and Rights and Documents Required for Registration, which is available in the section “Laws and By-laws”.
For the strike-off of a right of pledge, depending on the reason for the strike-off, different documents shall be attached:
- a statement or other act by which the pledge creditor confirms that the debtor has repaid his debt to him, that the pledged asset was sold in an out-of-court settlement procedure, or that his claim has been satisfied in some other manner
For example, a certificate issued by a competent department or a statement by the legal representative of the pledge creditor that the debt has been settled in full, etc. If the application for strike-off of data on a right of pledge is submitted by the pledger, the statement must be certified by the authority responsible for the certification of signatures if the pledge creditor is a natural person.
- a statement by the pledge creditor to the effect that he waives his right of pledge
For example, a statement by the legal representative of the pledge creditor by which he explicitly waives his right of pledge that was registered in his favour, etc.
If the statement is made by a third party authorized by the creditor to take legal actions to protect and settle the secured claim, such statement shall be accompanied by a special power of attorney authorizing the creditor to make such statement, unless such a power of attorney is contained in the agreement based on which the pledge was registered.
A final court decision establishing that the agreement based on which the data was registered has been terminated or annulled;
If the application for strike-off of data on a right of pledge is submitted by the pledger, the statement must be certified by the authority responsible for certification of signatures if the pledge creditor is a natural person.
- a document proving that the pledge creditor has acquired the right of ownership over the pledged asset
For example, a pledge creditor acquires the right of ownership over the pledged asset on the basis of a final decision on inheritance, etc.
- a document proving that the capacity of the pledge creditor and the capacity of the pledge debtor have been acquired by one and the same person
For example, in the case of acquisition, i.e a status change of a company, when a company, which is the pledge debtor, is acquired by another company, which is the pledge creditor, etc.
- a document proving that the pledged asset has perished
For example, the minutes of an insurance company declaring the total damage of the vehicle, which is the object of the pledge, etc.
- a court decision from which it can be determined that the pledged asset has been sold in the settlement procedure and that the debtor has repaid the price in full
For example, a court decision rendered in bankruptcy proceedings against a bankruptcy debtor - the pledger, establishing that the pledged asset has been sold and ordering the Serbian Business Registers Agency, the Pledge Register, to strike-off upon finality the right of pledge over the subject movable assets of the pledger that are registered as the pledged asset, etc.
- a final court decision or a decision of another state authority, i.e. other relevant evidence that the right of pledge has expired, i.e. that the claim secured by the registered right of pledge has expired
For example, a final court decision establishing that the debt deriving from the secured claim has been settled.
- a final court decision annulling the agreement based on which the registration was conducted
For example, a final court decision annulling a pledge agreement or a contract that is the basic legal transaction – e.g. a contract of sale, etc.
- other appropriate document, pursuant to the law
For example, in the annex to the pledge agreement, the pledge creditor and the debtor have agreed to substitute the object of the pledge and the pledge right as the collateral with other collateral, and the like.
The documentation must be submitted in the original, certified transcript or photocopy certified by the competent authority.
If a foreign public document is attached to the application, it must be legalized in accordance with the law and be accompanied by a certified translation by a court appointed interpreter. A document made in a foreign language shall be accompanied by its translation into Serbian, which must be made by a certified court interpreter.
FEE FOR STRIKING-OFF A REGISTERED PLEDGE
The amount of the fee for striking-off a registered pledge is prescribed by the Decision on Fees for Registration and Other Services Provided by the Serbian Business Registers Agency.
The fee for striking-off a registered pledge shall amount to RSD 1,000.
Additional fee for the untimely filed registration application shall amount to RSD 3,000.
Account for payment of fees
Account number for payment of the fee to strike-off a registered annotation, which is paid to the Serbian Business Registers Agency:
- 840-29770845-52, model 97, reference number (the obtained generated reference number must be entered in the payment slip)
ACTING UPON A PREVIOUSLY REJECTED APPLICATION
If a previous application was rejected, the applicant may, within 30 days of the publication of the decision rejecting the previous application, submit a new application, remediate any established deficiencies and pay half of the fee prescribed for the subject registration.
In that case, the applicant should submit:
- a new duly completed registration application, which shall contain the number of the decision rejecting the previous application (the new application should be submitted in full, not only the certain parts thereof, given that this is a new application for registration);
- the missing and/or rectified documentation (if the rejecting decision specified the documentation that was not enclosed and/or the deficiencies of the enclosed documentation);
- proof of payment of half of the amount of the prescribed registration fee (this amount shall be always indicated in the reasoning of the rejecting decision).
If the applicant acts upon a previously rejected application, the number of the previously rejected application must be stated on the first page. Otherwise, the Registrar shall consider the submitted application as a new application and shall assess the fulfilment of the registration requirements only on the basis of the documentation accompanying it.
If concurrently with the submission of a new application the applicant appeals the rejecting decision, it shall be deemed that the actions undertaken to remediate the established deficiencies have not been undertaken, and the appeal procedure shall run its course.