From The Jolly Contrarian
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| ====Registration of Charges in {{tag|Ireland}}====
| | #redirect[[Template:Charges in ireland]] |
| As long as collateral that is eligible under the Irish [[Collateral Regulations]] is in the possession or under the control of the chargee, a [[security interest]] does not need to be registered to be recognised by the Irish courts.
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| Collateral will be eligible under the Irish [[Collateral Regulations]] if it is
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| :(i) cash credited to an account (as opposed to physical notes and coins) with the chargee; or
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| :(ii) securities held by the chargee, either directly or indirectly through an intermediary (ie subcustodian), outside {{tag|Ireland}}.
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| Receivables consisting of obligations of the chargee to the chargor under contracts between the chargor and the chargee for the trading of [[over-the-counter]] or [[exchange-traded derivatives]], [[repos]] and/or [[stock loans]] must be registered under s. 99 of the [[Irish Companies Act 1963]].
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| But, you know, why would you be taking security over your own obligations? you could, and should, achieve the same thing by application of {{tag|set-off}}.
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Latest revision as of 10:36, 25 November 2019