Law of Property Act 1925: Key legislation governing security interests in real property and requirements for releasing charges and mortgages. Essential for understanding the formal requirements of terminating security interests in land and property.
Companies Act 2006: Governs requirements for releasing company charges and associated filing requirements with Companies House. Critical for corporate security agreements and their termination.
Financial Collateral Arrangements (No.2) Regulations 2003: Specific regulations governing financial collateral arrangements. Must be considered if the security agreement involves financial collateral such as shares, cash or financial instruments.
Consumer Credit Act 1974: Relevant when the original security agreement involved consumer credit. Provides specific protections and requirements for terminating security agreements involving consumers.
Land Registration Act 2002: Governs requirements for removing charges from the Land Registry and handling registered land. Essential when the security involves real property.
Insolvency Act 1986: Provides framework for handling security terminations in insolvency situations and protection against preference claims. Must be considered to ensure termination doesn't violate insolvency regulations.
Financial Services and Markets Act 2000: Regulatory framework for financial services. Relevant when security involves regulated financial activities or regulated entities.
Contract Law Principles: Common law principles governing contract termination, including requirements for valid termination, notice periods, and mutual agreement.
Equitable Principles: Principles of equity relating to security interests, including the doctrine of equity redemption and fair dealing in security relationships.
Registration Requirements: Administrative requirements for recording termination, including Companies House filings, Land Registry updates, and regulatory notifications where applicable.
