{
  "url": "https://openlegislation.uk/risk-transformation-regulations-2017/regulation-154",
  "json_url": "https://openlegislation.uk/risk-transformation-regulations-2017/regulation-154.json",
  "legislation": "uksi/2017/1212",
  "legislation_title": "The Risk Transformation Regulations 2017",
  "legislation_url": "https://openlegislation.uk/risk-transformation-regulations-2017",
  "path": "regulation/154",
  "kind": "regulation",
  "number": "154",
  "heading": "Creation of security interests",
  "text": "(1) A protected cell company may only create or assert a security interest over assets held by the protected cell company on behalf of a part of the protected cell company if the security interest does not secure a liability or obligation which is incurred on behalf of, or which is attributable to, another part of the protected cell company.\n(2) A protected cell company may only create or assert a security interest over the undertaking of part of the protected cell company if the security interest does not secure a liability or obligation which is incurred on behalf of, or which is attributable to, another part of the protected cell company.\n(3) A security interest is void if it contravenes the requirements of paragraph (1) or (2).\n(4) In this regulation, “security interest” means—\n(a) a lien, pledge, charge or mortgage; or\n(b) a standard security, assignation in security or any other right in security constituted under the law of Scotland, including any heritable security.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2017/1212/regulation/154",
    "retrieved_at": "2026-10-28T23:05:15.415576+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}