The RCCM registers charges over shares, businesses (fonds de commerce), stocks, professional equipment and motor vehicles. It also registers clauses providing for retention of title etc, and details of leasing contracts as well as charges and preferential rights in favour of the tax, customs and social security authorities.
When registering a charge, the beneficiary is required to submit evidence of his entitlement to the charge (such as an excerpt from a court decision or an original agreement) together with four copies of the filing form to the registrar of the court having jurisdiction in the place where the debtor is located.
Duly registered charges are safe from challenge by third parties for the following reasons;
- Five years for charges over shares, businesses, professional equipment, motor vehicles and leasing agreements;
- Three years for preferential rights in favour of the tax,customs or social security authorities; and
- One year for pledges of stocks or for clauses providing for retention of title.
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