On the other hand, international development experts recognized in the mid-1990s that reform of the Security Interests Act was one of the main reasons for the prosperity of Canada and the United States, as it had enabled their businesses to finance growth through forms of secured loans that simply did not exist elsewhere.  The International Monetary Fund, the World Bank and other international lenders have begun to encourage other countries to follow Canada`s lead in the structural adjustment process (a consultation process that is often a precondition for their loans). Canadian PPS was followed by the New Zealand Personal Property Securities Act of 1999, Vanuatu Personal Property Securities Act 2008, Australia Personal Property Securities Act 2009, Papua New Guinea Personal Property Security Act 2012, Jersey Security Interests Law 2012 (only for intangible tangible property), Samoa Personal Property Securities Act 2013 and Jamaica Security Interests in Personal Property Act 2013. To take out a legal mortgage, it is normally necessary for the ownership of the assets to be transferred in the name of the insured party, so that the insured party (or its candidate) becomes the rightful owner of the asset. If a legal mortgage is not entered into this way, it is usually used as a fair mortgage. Due to the requirement to transfer the property, it is not possible to take out a legal mortgage on the future property, or to take more than one legal mortgage on the same assets. However, mortgages (legal and fair) are not property security interests. Normally, the party granting the mortgage (the Mortgagor) remains in possession of the mortgaged assets. [e] So far, only Honduras has been able to fully implement and implement the OAS model law in a manner consistent with the spirit of UCC Article 9, in the sense of standardizing security interests and their visibility in a public register. At the launch of the Pathways to Prosperity in the Americas initiative in San Jose, Costa Rica, on March 4, 2010, and then in the United States. U.S. Secretary of State Hillary Clinton stressed that “the United States is committed to working with our Pathways partners to modernize credit laws so that small and medium-sized businesses can use non-real estate assets as collateral for loans,” and generously commended Honduras for its aggressive reform efforts.
 The rights conferred under a warrant are only contractual in nature and do not create an interest in the security of the PPSA, even though the clause contains predatory terms such as “to safeguard their obligations under this contract”.  This is consistent with the established principle that proxy clauses must be interpreted strictly in favour of the client and that a proxy clause, in the absence of a contrary provision, has only the possibility of acting in the administration of the client`s affairs.  When a tax guarantee is granted by a natural person (unlike a business unit), it is generally expressed as a sales invoice and governed by the current sales laws. The difficulties faced by the Bills of Sale Acts in Ireland, England and Wales have prevented individuals from collecting variable royalties.