Specific security agreement (marketable securities)
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This is a detailed specific security agreement
precedent for the granting of security interests over personal property
of the Grantor that is "marketable securities"
including shares, debentures and interests in managed investment schemes.
The precedent includes detailed drafting notes
which will guide you through preparing the document.
This precedent has been prepared following the introduction of the reforms under the Personal Property Securities Act 2009 (PPSA)
and takes into account the requirements under that Act.
This precedent is intended to be used in connection with any financing transaction for the granting of security interests over specific types of collateral
, being personal property that is "marketable securities"
, including investment instruments
and intermediated securities
(which include, for example, share, debentures, units and interest in managed investment schemes).
It is also intended to operate as a standalone agreement (i.e. a separate facility agreement such as a loan agreement is not required). It replaces a mortgage of shares
which may have been used prior to the introduction of the PPSA.
Related security agreements
This document is similar to a specific security agreement for the granting of security interests over other types of personal property (e.g. motor vehicles, crop liens etc).
For a specific security agreement that deals with a broader range of collateral, see the precedent Specific security agreement (various collateral).
General security deed
Specific security agreement (various collateral)
Deed of full release and undertaking for PPSA registered security interests (with guidance notes)
Deed of partial release and undertaking for PPSA registered security interests (with guidance notes)
To preview the Specific security agreement (marketable securities) precedent click here!
This precedent is also available via subscription to the
Australian Encyclopaedia of Forms and Precedents.
Table of Contents
Table of Contents
1. Definitions and interpretation
3. Grantor must pay Secured Money
4. Dealing with Collateral
5. Obligations to deposit Documents of Title
6. Representations and warranties
10. Exclusion of notice or time period
11. Contracting out of PPSA provisions
13. Exercise of default rights
14. Application of money
15. Third party dealings
16. Preservation of Rights
17. Costs and expenses
18. Other indemnities
19. Assignments and transfers
22. Partial invalidity
23. Remedies and waivers
24. Amendments and waivers
28. Further assurances
30. Waiver and exercise of rights
32. Sovereign immunity
33. Governing law and jurisdiction
35. Execution by attorney
36. Specific provisions relating to Trusts
37. Specific provisions relating to partnerships or joint ventures
Nino di Bartolomeo
Nino Di Bartolomeo is a banking and finance lawyer based in Sydney. He is a partner and national head of corporate and institutional finance at Norton Rose. He has global and local expertise in project and structured finance, corporate finance, international finance, commercial, property, asset and construction finance and derivatives work.
Helen Fielder has worked as a lawyer in both banking and corporate with top legal firms in Australia. She is currently a knowledge and precedents lawyer working in the banking and finance team of Norton Rose in Sydney.
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