REGISTERED PLEDGE ACCORDING TO THE FRAMEWORK LAW ON PLEDGES

Abstract

In Bosnia and Herzegovina, the Framework Law on Pledges was adopted in 2004, which introduced the right of lien on movable property registered in the Register (registered pledge) into the legal system. This is a significant innovation in relation to the earlier lien on movable property - a manual pledge (classical lien, pignus), because the object of the pledge remains in the state of the pledge creditor. In addition, the concept of this legal institute brings a number of new legal solutions, such as the expansion of the subject of pledges to generic things, the future and entire property of the debtor, then the introduction of the Register of Pledges that provides publicity and priority order in settlement, registration regardless of the legal basis of acquiring the pledge, but also a special executive procedure in the case when the legal basis of the creation is a legal business. On the other hand, there are numerous objections to certain solutions in the Framework Law on Pledges, which are mainly related to its inconsistency with national legislation in terms of nomotechnics, terminology and standardization of legal concepts unknown to our legal tradition.