The Security Interests (Jersey) Law 2012 (the "Law")
came into full force on 2 January 2014. The Law significantly
reforms the way in which security may be taken over Jersey
intangible movable property (such as shares in a Jersey company,
units in a Jersey property unit trust, bank accounts maintained in
Jersey and contracts with Jersey obligors).
The Law is designed to be modern and flexible and to meet the
expectations of banks and financiers when entering into secured
transactions. The Law is a solid bedrock on which secured
financings can be built and is a distinguishing factor in promoting
Jersey as a finance centre of choice.
THE PRIOR LAW
The prior law which governed the taking of security over Jersey
intangible movable property was the Security Interests (Jersey) Law
1983 (the '1983 Law'). The 1983 Law has served its purpose
well. It has facilitated numerous secured transactions and allowed
security to be taken over a range of Jersey intangible
