Security

A security represents a legal claim of its owner in relation to the obliged subject (usually the issuer). A security bears the legal claim, which is embodied in it, and is essentially irreplaceable for its establishment, existence, transfer and termination. Securities are primarily: shares, interim certificates, share certificates, debentures, bonds, stock warrants, bills of exchange, cheques, investment coupons, coupons, traveller’s cheques, bills of lading and dock warrants. Securities are also instruments that are declared as securities by special laws. There are three forms of securities: bearer securities and securities registered by name or order; and two types of securities – materialised and dematerialised.