Security document meaning

Scope of this Checklist This Checklist sets out the points to consider when a company is proposing to grant a mortgage. It proceeds on the basis that an English or Welsh company will be granting a mortgage to a lender situated in England or Wales. In this Checklist: the company granting the mortgage is the 'mortgagor' the party to whom the mortgage is granted is the 'mortgagee' the document recording the mortgage is the 'security document' Preliminary questions before taking security by way of a mortgage Is a mortgage the right method of taking security? A mortgage transfers title to the asset, while preserving the mortgagor's equity of redemption so that, once sums due have been paid in full, title can be transferred back to the mortgagor (note that some mortgages, such as over land, are statutory, meaning there is no transfer of title). The use and possession of the asset will remain with...

This checklist outlines the points to consider when a company plans to grant a pledge. It assumes a company incorporated in England or Wales is granting a pledge to a lender located in England or Wales. In this checklist: the company giving the pledge is the ‘pledgor’ the party in whose favour the pledge is given is the ‘pledgee’ the document setting out the pledge is the ‘security document’ Preliminary questions before taking security by way of a pledge Is a pledge the appropriate method of taking security? Is the asset of a type that can be pledged? Assets capable of being pledged include: goods (that is, tangible, moveable items such as precious metals or other commodities) documents of title to goods or intangible assets where title can pass by delivery of a document (for example, bills of lading and sea waybills, or bearer securities—the latter now rare in practice), so...

This checklist sets out the factors to consider when a company is proposing to grant a floating charge. This checklist proceeds on the basis that an English or Welsh company will grant a floating charge to a lender situated in England or Wales. The company granting the floating charge is the ‘chargor’. The entity receiving the floating charge is the ‘chargee’. The document recording the floating charge is the ‘security document’. For detailed guidance on the nature of floating charges and how they differ from fixed charges, see Practice Note: Fixed and floating charges. For the advantages and disadvantages of taking a floating charge, see Practice Note: Floating charges—advantages and disadvantages. For in-depth considerations when taking a floating charge, see Practice Note: Floating charges. A floating charge may form part of the security package created by a debenture—see Practice Note: Key features of debentures. Debentures typically also include other security interests, such as mortgages, assignments and fixed charges. A floating...

In this issue Security Sustainable finance Debt capital markets Derivatives Regulation for derivatives lawyers Claims and remedies Daily and weekly news alerts Updated Practice Notes Useful information Security HM Land Registry has revised Practice Guide 29—Registration of legal charges and deeds of variation of charge. An update to section 4 now explains how to remove a note recorded in the charges register pursuant to section 859H of the Companies Act 2006. See: LNB News 06/05/2025 2. Source: Registration of legal charges and deeds of variation of charge (PG29). Sustainable finance The European Commission has opened a call for evidence to review the Sustainable Finance Disclosures Regulation (EU) 2019/2088 (EU SFDR). The initiative targets unnecessary burdens by simplifying and streamlining obligations, including easing environmental, social and governance reporting for financial market participants so they can focus on information most relevant to investors. Responses are requested by 30 May 2025, and the feedback will guide...

In this issue: Public procurement Governance Social housing Education Children's social care Social care Planning Daily and weekly news alerts New and updated content Public procurement Cabinet Office publishes first suite of Procurement Act 2023 guidance documents The Cabinet Office has issued an initial tranche of guidance on the Procurement Act 2023 (PA 2023). Designed to offer technical support, the materials explain interpretation and application of PA 2023, and are directed at procurement practitioners and commercial policy leads within contracting authorities. Each document should be read alongside PA 2023 and the related regulations. The Cabinet Office confirms a staggered release, aiming to complete the full set by June 2024. The Procurement Regulations 2024 have likewise been released in final form for Parliamentary debate. These draft regulations include the amendments flagged in the government’s consultation response issued on 22 March 2024. Separate guidance for devolved Welsh authorities will be issued by the Welsh Government in...

Current position Regarding certain affected security, we note an entry now visible in the filings section of the Companies House register stating that material once regarded as part of the register is no longer treated as such by the registrar. Although the charges register has also been updated—so the relevant registered security once more appears as outstanding—there is no clear connection drawn between that note, the amendments to the charges register, and the earlier incorrect submission (evidence of which has likewise been removed). To any third party—even directors of the relevant company or the security holder—it is not immediately clear what this new entry pertains to unless they were already aware that the unauthorised filing had been accepted. Since the issue was identified, the registrar has made no public statement about the incident, leaving uncertainty over what actually occurred, why it occurred, and how many companies have been impacted. Equally, there is no firm certainty in relation to the...

1. What is the applicable legislation? The primary statute applicable to foreign direct investment (FDI) is the Foreign Business Act B.E. 2542 (A.D. 1999) (the FBA). The FBA regulates business activities undertaken by foreign individuals or entities in Thailand. Under the FBA, a “foreigner” is defined as: an individual who does not hold Thai nationality a juristic person not registered in Thailand a juristic person incorporated in Thailand where foreign ownership represents one-half or more of the total shares and/or registered capital a limited partnership or ordinary registered partnership whose managing shareholder or manager is a foreign national The FBA identifies business activities that foreign persons or entities are restricted from, or barred from, conducting in Thailand. These activities are grouped into three lists under the FBA: List 1: businesses that foreign nationals are completely prohibited from undertaking List 2: businesses that foreign nationals may carry on only with a foreign business licence from the...

Loan market and developments Overview Broadly, Scotland’s loan market mirrors that of England. Financial services regulation operates on a UK‑wide basis; a substantial body of legislation governing companies and other corporate vehicles (including corporate insolvency) likewise applies across the UK; and all Scottish clearing banks conduct business in every UK jurisdiction, as do their counterparts across the UK. In practical terms, this means English law governed loan documents typically require minimal amendment for UK cross‑border lending transactions. There are, however, some differences in terminology and certain statutory variations that must be allowed for; beyond those matters, an English law loan document and a Scots law loan document are closely aligned. It is commonplace, for example, for English law loan agreements to be deployed in Scottish lending transactions. The principal divergences between the jurisdictions arise in relation to property law and to the law concerning rights in security, where Scots law and English law are notably distinct. Lending Is it necessary to secure any consents or licences to...

1. What is the applicable legislation? The rules governing foreign direct investment are set out in: Competition Law No. 21 of 10 April 1996, as later amended and republished, most recently by Government Emergency Ordinance (GEO) No. 17/2026 of 13 March 2026 (Competition Law 1996) Regulation on economic concentrations adopted by Order No. 432/2017 of the President of the Romanian Competition Council (RCC) Supreme Council for State Defence (CSAT) Decision No. 73/2012 concerning the application of article 46 paragraph (9) of the Competition Law 1996 GEO No. 46/2022 implementing Regulation (EU) 2019/452 of the European Parliament and of the Council of 19 March 2019 establishing a framework for the screening of foreign direct investments into the Union (FDI GEO 2022), published on 18 April 2022 and approved by Law No. 164 of 31 May 2023, further amended by GEO No. 108 of 29 November 2023, Law No. 231/2024 of 17 July 2024, GEO No. 152/2024 of 18 December 2024, and GEO No. 17/2026...

1 Introduction 1.1 This document sits alongside, and forms part of, [ insert organisation’s name ]’s Records management policy. It specifies and outlines the periods for which various categories of business records (as defined within the Records management policy) should be kept to meet operational and legal needs and obligations. [ You need not read the full retention schedule; instead, concentrate on the record categories relevant to your duties. ] 1.2 The schedule’s retention periods reflect operational needs and legal obligations, including our duty under data protection law not to retain personal data for longer than is necessary. When a retention period comes to an end, the data or record should be reviewed and, if no longer required, destroyed. 1.3 If you hold any records not described in this schedule, and it is not apparent from the existing categories what retention period should apply in your case, please contact [ insert who, eg the Data Protection Officer ] for guidance and clarification. 1.4 Any...

1 Introduction This document provides a concise, high-level overview of office procedures. It does not cover all employment or health and safety policies. A complete set of policies is available [ Insert, eg on our intranet ]. 2 Office days and hours 2.1 Standard office days and hours are [ insert details of your office hours eg 09:00–17:30 Mondays to Fridays inclusive ]. 2.2 [ If you are a hybrid office worker, your office attendance should be recorded via the [ insert platform name, e.g. OfficeSpace/Outlook/HR Portal ] in accordance with the firm’s hybrid working policy. ] 3 Office closure over bank holidays/public holidays 3.1 There are typically six fixed bank holidays each year, and the office will be closed on those dates. As these dates change annually, please ensure you check when they occur in each calendar year. 3.2 Christmas Day and Boxing Day are recognised public holidays, and the office will be closed on these dates...

1 The issue We must preserve the confidentiality of current and former clients’ affairs unless one of the following applies: disclosure is required or permitted by law; or the client gives consent. The duty of confidentiality is a fundamental obligation of a solicitor. It is an unqualified responsibility to keep information confidential, not merely to take reasonable steps towards that end. Working away from the office, including from home, inevitably means handling and discussing sensitive matters outside a controlled environment. Security is a major concern and, inseparable from it, confidentiality. Although we operate on secure networks, once information leaves the office or discussions occur elsewhere, security cannot be assured. Confidentiality is far easier to maintain in a protected workspace such as our offices; therefore, when working in other locations, we must remain alert to confidentiality risks in our personal and work settings and exercise extra care with confidential data. 2 What we need from you Wherever you are working, it...

A mortgage by demise A mortgage by demise is an uncommon variety of mortgage whereby the borrower demises the property to the lender as security for a loan of money. Its arrangement is comparable to a lease, but for an exceptionally long duration (typically 3000 years). The mortgage will contain provisions for redemption. In the ordinary course, upon settlement of the principal amount and the interest, the mortgage will determine and the demised term thereby comes to an end...