Chapter 12
Perfection - A Brief Introduction
12.7 Perfection by control
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12.7.1

Control is available as a method of perfection for only six (6) classes of collateral, mainly financial collateral, being:

  1. ADI accounts (bank accounts);
  2. intermediated securities (for example, ASX-listed shares);
  3. investment instruments (for example, unlisted shares, bonds and units in managed investment schemes);
  4. letters of credit;
  5. negotiable instruments not evidenced by a certificate; and
  6. satellites and space objects.

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12.7.2

There is discussion on perfection by control over these classes of collateral at paragraphs 17.6.1 to 17.6.30 of Chapter 17 (Perfection).

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