# Companies Act 1985, Section 412: Negotiable instrument to secure book debts.

Extent: E+W+S+N.I.

Where a negotiable instrument has been given to secure the payment of any book debts of a company, the deposit of the instrument for the purpose of securing an advance to the company is not, for purposes of section 410, to be treated as a charge on those book debts.

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Source: https://www.legislation.gov.uk/ukpga/1985/6/section/412 (the official version)
Page: https://openlegislation.uk/companies-act-1985/section-412
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.