SECTION 63

Any regular registration in the Trade and Personal Property Rights Register shall be binding on the parties and third parties as from the date of registration: 1°) for a period of five years for the registration of a pledge of shares, business, professional equipment and motor vehicles, the vendor’s lien or a leasehold contract; 2 °) for a period of three years for the registration of general preferential rights of the Treasury, the Customs Department and social security institutions.; 3 °) for a period of one year for the registration of the pledge of stock or an ownership reserved clause. At the end of any such periods, and save in the case of renewal thereof by the declarant under the conditions stipulated in Article 62 above, the registration shall expire and shall as a matter of course be cancelled in the Register.