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 and will enhance the remedies that are
available to a secured party on default.
The prior law
The prior law which governed the taking of security over Jersey
intangible movable property is the Security Interests (Jersey) Law
1983, as amended (the "1983 Law"). The 1983 Law has
served its purpose well and allowed security to be taken over a
range of 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).
Indeed, since 1983, there has only been one significant case
litigated before the Jersey courts concerning the construction of
the 1983 Law. The absence of further litigation is indicative of
the success of the 1983 Law in facilitating secured
