Personal Property Security Act, Republic Act No. 11057 (Philippines)

The Act applies to all transactions that secure an obligation with movable collateral, except interest in aircraft and ships. It established a centralized and nationwide registration database to be created by the Land Registration Authority where notices of security interest and liens on personal property may be registered which is easily accessible to the public. 

The Act requires that a security interest is made through a security agreement which shall be embodied in a written contract signed by the parties. It provided for the creation, mode of perfection over security interests (registration of notice with the registry, possession of the collateral by the secured creditor, and control of investment property and deposit account), determination of the priority of security interests and liens in the same collateral, and how security interests shall be enforced in personal property.