Section 13

The registration of a bill of sale shall be renewed once at least every 12 calendar months, and if a period of 12 calendar months elapses from the registration or renewed registration of a bill of sale without a renewal or further renewal, as the case may be, the registration shall become void.

The renewal of a registration shall be effected by filing with the registrar a statutory declaration in the form set out in the Second Schedule, stating the date of the bill of sale and of the last registration thereof and the names, residences and occupations of the parties thereto as stated therein and that the bill of sale is still a subsisting security.