The following Banking & Finance guidance note provides comprehensive and up to date legal information covering:
BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be treated by the EU as a Member State for many purposes. As a third country, the UK can no longer participate in the EU’s political institutions, agencies, offices, bodies and governance structures (except to the limited extent agreed), but the UK must continue to adhere to its obligations under EU law (including EU treaties, legislation, principles and international agreements) and submit to the continuing jurisdiction of the Court of Justice of the European Union in accordance with the transitional arrangements in Part 4 of the Withdrawal Agreement. For further reading, see: Brexit—introduction to the Withdrawal Agreement. While the information contained in this Practice Note is not directly affected (as it only covers taking security over intellectual property rights in England & Wales), for information on the legal implications for EU intellectual property rights and registrations, see Practice Note: Brexit—impact on finance transactions — General issues—security and guarantees.
Registration can have an important effect on the priority of competing security interests.
Broadly speaking, there are two different systems for registration of security interests:
registration against the asset which has been secured, and
registration against the entity providing the security
This Practice Note explains the impact on
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