The Security Interest in Movable Property Act, 2019 (the ‘’Act’’) and the Security Interest in Movable Property Regulations, 2019 (the ‘’Regulations’’) came into force on 30th May 2019. This Act is one of the most significant statutes to impact the taking of security in Uganda. The Act is far reaching as it requires many types of existing securities that have already been registered to be re-registered under the Act for the security to be effective against a liquidator, administrator or third parties.

Background More often than not, when you walk into a shop or supermarket and pick up an article, it will clearly confirm that it is made or assembled in China, England, Kenya and so on. This is indicative of international trade. Every country is endowed with different resources and each has a peculiar comparative advantage over the other. It therefore goes without saying that no country is completely self-reliant.

Regulatory Environment Incorporating/ Registering a Company: Investment vehicles in Uganda take on various forms including among others single member companies, private limited liability companies, incorporated and unincorporated joint ventures, partnerships and trusts. The most common vehicle for investment is the private limited liability company.

In June 2012, the High Court of Uganda delivered a ground-breaking judgment regarding interalia execution of mortgages by mortgagees and unconscionable interest rates. 1. Background 1.1 The Borrower Alice Okiror obtained  a loan from  the Global Capital  Save  2004 Limited, against a mortgage of her family home. 1.2 The mortgage deed was signed by the Borrower and by one of the directors of the Lender on behalf of the Lender.