IBANK 10.2.5 Guidance
The Regulatory Authority expects the legal opinion to consider that, in many jurisdictions:
• rahn (mortgage or other pledge of assets) is possessory in nature so as to make perfection a particularly difficult issue
• bankruptcy laws, the concept of perfection and the priorities in the distribution of assets are not well developed.
|Inserted by QFCRA RM/2017-1 (as from 1st April 2017).|