Jurisdiction(s):
United Kingdom

Key definition

security definition

What does security mean? In legal practice, security means money or other assets provided as a guarantee that a legal obligation will be performed, with forfeiture if it is not. In criminal proceedings, it most often refers to a cash deposit or equivalent required as a condition of bail to secure a defendant’s attendance at court and compliance with bail; failure to surrender may lead to forfeiture. The concept and procedures are set by bail legislation and court rules in each jurisdiction. Practice varies: in England & Wales and Northern Ireland, courts commonly take recognisances, with or without sureties, and may require a...

Perfecting security over UK companies and LLPs: Companies House registration, possession/control, third-party notice and specialist registries; priority considerations and converting equitable to legal security, including over shares

Published by a LexisNexis Banking & Finance expert

Practice notes

Why is it necessary to perfect security?

When a Creditor takes security, it will be concerned with three issues:

whether the security binds the security provider (ie whether it has been validly created)—see: Taking security—overview
whether the security is enforceable against Third parties
whether the security has the intended Priority over other creditors with competing interests in the same asset(s)—see: Priority of security—overview

‘Perfecting security’ refers to the actions taken after the security is created to ensure it is enforceable against third parties such as creditors, liquidators and administrators. The expression is also used in a wider sense to cover steps that enhance or protect the creditor’s position, for example by obtaining a legal interest or ensuring the priority of its security...

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Web page updated on 21/05/2026

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