How is a Jersey security interest created?
A Jersey security interest over shares or other securities is created by either:- (a) the secured party or its trustee or agent having possession of the certificates of title; or (b) title to the securities being assigned to the secured party or its trustee or agent (together with the giving of written notice to the issuer of the securities). A Jersey security interest over a bank account is created: (a) where the secured party is also the account bank, by the secured party having control of the account; or (b) otherwise, by title to the account being assigned to the secured party or its trustee or agent (together with the giving of written notice to the account bank). A Jersey security interest over rights in a custody account or a custodian agreement is created by title to such rights being assigned to the secured party or its trustee or agent (together with the giving of written notice to the counterparty). In each of the above cases, the security interest must be created pursuant t
