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Trade Marks Act, 1993 (Act No. 194 of 1993)

Part XI : Assignment and Hypothecation

41. Hypothecation and attachment

 

(1) A registered trade mark may be hypothecated by a deed of security.

 

(2) A registered trade mark may be attached to found or confirm jurisdiction for the purposes of any proceedings before the Transvaal Provincial Division of the Supreme Court of South Africa or the magistrate’s court for the district of Pretoria and may be attached and sold in execution pursuant to an order of any such court.

 

(3)
(a) Where a deed of security has been lodged with the registrar in the prescribed manner, the registrar shall endorse the register to that effect.
(b) Such endorsement shall record the name and address of the person in whose favour the deed of security has been granted and the nature and duration thereof.

 

(4) A deed of security in respect of which an endorsement has been made in accordance with the provisions of subsection (3) shall have the effect of a pledge of the trade mark to the person or persons in whose favour the deed of security has been granted.

 

(5) An assignment or transmission of a registered trade mark in respect of which a deed of security has been endorsed in terms of subsection (3) shall not, without the written consent of the person in whose favour the deed of security has been granted, be registered by the registrar in terms of section 40.

 

(6) Where the debt or obligation secured by a deed of security in respect of which the register has been endorsed in terms of subsection (3) has been discharged, any person may apply to the registrar in the prescribed manner for the removal from the register of any endorsement in relation thereto made under subsection (3).