Security Interests
(Application of Law – Exceptions) (Jersey) Order 2013
Official
Consolidated Version
This is an official
version of consolidated legislation compiled and issued under the authority of
the Legislation (Jersey) Law 2021.
Showing the law
from 1 January 2019 to Current
Security Interests (Application
of Law – Exceptions) (Jersey) Order 2013
1 Interpretation
In this Order –
the “Law” means the Security Interests (Jersey) Law 2012;
“prescribed unit trust” has the meaning given by Article 2(2)
of the Security Interests
(Registration and Miscellaneous Provisions) (Jersey) Order 2013.
2 Security
interests to which the Law does not apply
(1) Notwithstanding Article 4(a)(vii)
of the Law, in circumstances where –
(a) trust
property of a prescribed unit trust is not situated in Jersey; and
(b) a
security interest is granted over that trust property by the trustees of the
trust,
no provision of the Law, except those provisions under which this
Order is made, shall apply to the security interest.
(2) Notwithstanding Article 4(a)(ix)
or (x) of the Law, in circumstances where –
(a) there
is a security interest which, apart from this provision, would be of a kind
described in either of those sub-paragraphs; and
(b) the
security interest is –
(i) created under the
law of a jurisdiction other than Jersey, and
(ii) perfected
in accordance with any requirements as to perfection which apply to such an
interest under such law,
no provision of the Law, except those provisions under which this
Order is made, shall apply to the security interest.
(3) For the purpose of the
application of paragraph (2), and for the avoidance of doubt, it is
irrelevant whether creation or perfection of the security interest under the
law of the other jurisdiction amounts to creation or perfection under Part 3
of the Law.
3 Citation
This Order may be cited as the Security Interests (Application of
Law – Exceptions) (Jersey) Order 2013.