Capital Equipment News January 2017
SAMAR is designed to allow contractors, OEMs, importers, builders, banks and insurers, as well as the general public to control title and ownership of all movable assets such as yellow metal equipment.
The exclusion of vehicles not designed for public road use, such as yellow metal equipment and forklifts, from registration on the Electronic National Traffic Information System created a gap to effectively manage and control title and ownership of such high-risk, high-value moveable assets. The newly- created Southern Africa Moveable Assets Register has been designed to bridge this gap with its ability to offer registration and verification of information related to moveable assets, on a common platform, writes Munesu Shoko . BRIDGING THE CAPITAL EQUIPMENT REGISTRY GAP
of 1996 (Act 3 of 1996) stipulates that certain motor vehicles are not allowed to be registered on eNaTIS. “The vehicles prescribed in this regulation are those not designed for public road use, in other words, vehicles that cannot legally pass a roadworthy test, such as tracked vehicles and forklifts,” says Kyle Dutton of SAMAR. In the banks’ controls suites, the use of “title” on an eNaTIS registration document is used as confirmation of the particular bank’s interest in an asset. By denying access to eNaTIS for assets such as yellow metal equipment, the ability to apply “title” has been effectively withdrawn, reasons Dutton. This has since brought about the development of SAMAR, at the request of several of the local banks and importers of construction equipment. SAMAR is deemed as a practical solution to the impasse created by the legislation. Risk officials at several of the participating institutions have asked for the use of
F ollowing the exclusion of vehicles not designed for public road use, such as tracked vehicles, quad bikes and forklifts, to mention a few, from the Electronic National Traffic Information System (eNaTIS), a new concept platform currently under trial, the Southern African Movable Asset Register (SAMAR), is designed to allow contractors,
original equipment manufacturers (OEMs), importers, builders, banks and insurers, as well as the general public to control title and ownership of all movable assets, including yellow metal equipment and other gear used in the construction, mining, quarrying, agriculture and plant hire markets. For some background information, Regulation 5 of the National Traffic Act
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