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That said, Section 408(3) seems, to our reading, to acknowledge that an unregistered charge will still be effective to the extent it covers FCR-eligible assets, even if it won’t work for other assets. Since the other assets part is basically thrown in for good measure, one might be inclined to take a bit of a view. Not that we would ''recommend'' anything quite so cavalier, of course. but if you were stuck in a corner. | That said, Section 408(3) seems, to our reading, to acknowledge that an unregistered charge will still be effective to the extent it covers FCR-eligible assets, even if it won’t work for other assets. Since the other assets part is basically thrown in for good measure, one might be inclined to take a bit of a view. Not that we would ''recommend'' anything quite so cavalier, of course. but if you were stuck in a corner. | ||
'' | ''Nobody'' puts baby in a corner. | ||