Professor Louise Gullifer has been nominated as the UK delegate to attend the February meeting of UNCITRAL Working Group VI in New York. The Working Group VI focuses on security interests, and has already produced a draft Legislative Guide on Secured Transactions. It is now working on producing a Model Law on Secured Transactions, to provide help and guidance to states which are seeking to reform their law in this area, and to complement the Legislative Guide, particularly (but not just) states with developing and transitional economies.
The Model Law project is reaching its final stages, and work is also underway to prepare a Guide to Enactment, which will explain in more detail the reasoning behind the drafting of the Model Law and the various options open to states when enacting reformed legislation. Details of the drafts and the deliberations of previous working groups are available at http://www.uncitral.org/uncitral/en/commission/working_groups/6Security_Interests.html.