Objective and Function of Registry
Objectives of the Central Registry
The Registry is established for the purposes of receiving , storing and making available to the public registration information relating to security interests in movable property pursuant to the Act and the Rules and Regulations for Central Registry for Secured Transactions in Bhutan 2019.
Functions of Central Registry for Secured Transaction (CRST)
TheCentral Registry acts as a single centralize repository for all securityinterests on Movable Property, serving two essential purposes which are asfollows:
1. To make information available to the public on securedtransaction on movable property only.
2. To determine the priority of conflicting claims over the sameproperty subject to the multiple security interests.
The secured transaction registry provides notice to potential lenders of credit of all the debtor's prior securityinterests in movable property.
News and AnnouncementView All
Operation of Central Registry
11/May/2018
The information pertaining to any moveable collateral pledged with any of the financial institutions like mortgages and other security interest in moveable property are available with the CR office. The hypothecation of the vehicles will also be monitored by the Central Registry office;
- RSTA has stopped the hypothecation of vehicles therefore there won't be hypothecation seal on the vehicle registration book henceforth.
- All transfer/change of ownership or cancellation of hypothecation of vehicle must obtain â??Certified Search Reportâ?? from CR office or their respective Financial Institution and the RSTA will make the â??Certified Search Reportâ?? a mandatory document.
The secured transaction registry also provides notice to potential lenders of credit of all the debtorâ??s prior security interests in moveable property.
We would also like to inform the general public to obtain a ''Certified Search Report" from the CR office prior to any transaction on second-hand movable property.
Shifting of Central Registry
11/May/2018
Central Registry is now under the management of Royal Monetary Authority of Bhutan.
Launch of Central Registry
11/May/2018
Bhutan's first Central Registry was launched on 9th August 2013 by the Honorable Governor of Royal Monetary Authority of Bhutan.
Central Registry is a unit under the Royal Monetary Authority of Bhutan established with the executive directive from Royal Government of Bhutan in accordance with Part VI of Movable and Immovable Property Act of Kingdom of Bhutan, 1999. Central Registry will act as a centralized repository for all security interest in movable property.
The Registry became fully operational from 1st July 2014 and will undergo several development phases.
