Section 33
Section 39 of the principal Act is amended—
of Patents (Amendment) Act 2022
(a)
in the shoulder note, by substituting for the words
“Assignment and transmission of patent applications and patents” the words “Assignment, transmission and security interest transaction”;
(b)
in subsection (1), by inserting after the word “transmitted”
the words “in the same way as other personal or moveable property”;
(c)
by inserting after subsection (1) the following subsection:
“(1a) A patent may be the subject of a security interest in the same way as other personal or moveable property.”;
Patents (Amendment)
(d)
by inserting after subsection (2) the following subsections:
“(2a) Any person who is a party to a security interest transaction in respect of a patent may apply to the Registrar in the prescribed manner to have such security interest transaction recorded in the Register.
(2b)
Any security interest in respect of a patent may be enforced in the same way as other personal or moveable property.”;
(e)
in subsections (3) and (4), by substituting for the words
“or transmission” the words “, transmission or security interest transaction”; and
(f)
by inserting after subsection (4) the following subsections:
“(5) The Registrar may amend any particulars relating to a security interest transaction in the Register on the application of any person who is a party to the security interest transaction in the prescribed manner together with the payment of the prescribed fee.
(6)
The Registrar may remove the recorded security interest transaction from the Register on the application of any person who is a party to the security interest transaction in the prescribed manner.”.