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Collateral
Practical Law ANZ Glossary w-005-8538 (Approx. 2 pages)
Glossary
Collateral
In general terms, an asset, or assets, that are provided as security by a collateral provider, or over which a security interest has been created, to secure a liability owed to the collateral taker.
The term has a defined meaning for the purposes of the Personal Property Securities Act 2009 (Cth) (PPSA):
- Personal property to which a security interest is attached.
- In relation to a registration (on the Personal Property Securities Register) with respect to a security interest, personal property described by that registration (whether or not a security interest is attached to the property).