Trade Marks Act 1994

Effect of a security interest in an existing IR(EU) U.K.

[F1 19 (1) This paragraph applies where immediately before IP completion day an existing IR(EU) (or any right in or under it) is the subject of a security interest (a “relevant security interest”) which—

(a) restricts the proprietor's right to dispose in the European Union of the existing IR(EU); and

(b) does not terminate on IP completion day.

(2) References to the existing IR(EU), or the international registration to which the existing IR(EU) is subject, in any document which grants or refers to the relevant security interest are to be read as including references to the comparable trade mark (IR) which derives from the existing IR(EU).

(3) Section 25 applies in relation to a relevant security interest as if it were a registrable transaction affecting a comparable trade mark (IR), subject to the modifications set out below.

(4) An application under section 25(1) may only be made by—

(a) a person claiming to be entitled to an interest in or under a comparable trade mark (IR) by virtue of the relevant security interest; or

(b) the proprietor of the comparable trade mark (IR).

(5) Where immediately before IP completion day there is an entry in the International Register relating to a relevant security interest—

(a) section 25(3) and (4) do not apply until after the expiry of the relevant period; and

(b) section 25(4)(a) applies after the expiry of the relevant period but as if the reference to six months beginning with the date of the transaction were a reference to eighteen months beginning with IP completion day.

(6) In sub-paragraph (5)(a), the “relevant period” means the period of twelve months beginning with the day after that on which IP completion day falls.]

Textual Amendments

F1 Sch. 2B inserted (31.12.2020) by The Designs and International Trade Marks (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/638), reg. 1, Sch. 4 para. 3 (with Sch. 5 Pt. 2) (as amended by S.I. 2020/1050, regs. 1(2), 22(b)); 2020 c. 1, Sch. 5 para. 1(1)