Financial Services Act 1986

Debentures

2 Debentures, including debenture stock, loan stock, bonds, certificates of deposit and other instruments creating or acknowledging indebtedness, not being instruments falling within paragraph 3 below.

• Note. This paragraph shall not be construed as applying—

  (a)

  to any instrument acknowledging or creating indebtedness for, or for money borrowed to defray, the consideration payable under a contract for the supply of goods or services ;

  (b)

  to a cheque or other bill of exchange, a banker's draft or a letter of credit; or

  (c)

  to a banknote, a statement showing a balance in a current, deposit or savings account or (by reason of any financial obligation contained in it) to a lease or other disposition of property, a heritable security or an insurance policy.