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Template:Charges in ireland: Difference between revisions
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==={{t|Ireland}}=== | ==={{t|Ireland}}=== | ||
The Irish Financial Collateral Arrangement Regulations provide that certain types of charges do not need to be registered including those created over | The Irish Financial Collateral Arrangement Regulations provide that certain types of charges do not need to be registered including those created over | ||
:(a) [[cash]]<ref>I know, I know. You can’t take security over cash. But if you try, then even if you could, you couldn’t, unless you registered your attempt. But since you can’t ...</ref>; | :(a) [[cash]]<ref>I know, I know. You can’t take [[security]] over [[cash]]. But if you try, then even if you could, you couldn’t, unless you registered your attempt. But since you can’t ... I’ll get my coat.</ref>; | ||
:(b) deposits and money credited to bank account; | :(b) deposits and money credited to bank account; | ||
:(c) [[share]]s, [[bond]]s or [[Debt securities|debt instruments]]; | :(c) [[share]]s, [[bond]]s or [[Debt securities|debt instruments]]; | ||
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:(e) claims and rights (such as dividends or interest) over any of the above. | :(e) claims and rights (such as dividends or interest) over any of the above. | ||
However, warns Matheson,<ref>[https://www.matheson.com/images/uploads/publications/Companies_Act_2014_Registration_and_Priority_of_Charges_June_2015.doc.pdf “The Companies Act 2014: Registration and Priority of Charges”</ref> the registrar tends to take a conservative approach to excluding charges from the registration requirement on account of the Financial Collateral Arrangement Regulations, so you may still find Irish [[espievie]]s counsel wishing to go through the pantomime of registering charges with the Irish Registrar of Companies, notwithstanding the Emerald Isle’s continued membership of the [[European Union]], and implementation of its buzz-killing [[Financial Collateral Directive]], thanks to some law changes in 2015.<ref>“... Charges over all categories of assets are now registerable save for certain specific exclusions (including, for example, a charge created over an interest in cash or in shares in an Irish company). Thus, particulars of every charge created by a company over any property need to be delivered to the CRO, save for charges over non-registerable assets.” — [https://www.lawsociety.ie/Solicitors/Practising/Practice-Notes/Priority-and-registration-of-charges/#.XdusMtWwmiM Irish Law Society bulletin].</ref><br> | However, warns Matheson,<ref>[https://www.matheson.com/images/uploads/publications/Companies_Act_2014_Registration_and_Priority_of_Charges_June_2015.doc.pdf “The Companies Act 2014: Registration and Priority of Charges”]</ref> the registrar tends to take a conservative approach to excluding charges from the registration requirement on account of the Financial Collateral Arrangement Regulations, so you may still find Irish [[espievie]]s counsel wishing to go through the pantomime of registering charges with the Irish Registrar of Companies, notwithstanding the Emerald Isle’s continued membership of the [[European Union]], and implementation of its buzz-killing [[Financial Collateral Directive]], thanks to some law changes in 2015.<ref>“... Charges over all categories of assets are now registerable save for certain specific exclusions (including, for example, a charge created over an interest in cash or in shares in an Irish company). Thus, particulars of every charge created by a company over any property need to be delivered to the CRO, save for charges over non-registerable assets.” — [https://www.lawsociety.ie/Solicitors/Practising/Practice-Notes/Priority-and-registration-of-charges/#.XdusMtWwmiM Irish Law Society bulletin].</ref><br> | ||