Document background
The Assignment Of Security Agreement is a crucial document in Malaysian financial and corporate transactions, typically used when there is a need to transfer security interests from one party to another. This may occur in various scenarios such as loan portfolio sales, corporate restructuring, refinancing arrangements, or when financial institutions transfer their security interests to other lenders. The document must comply with Malaysian legal requirements, including the Contracts Act 1950, Companies Act 2016, and relevant security legislation. It contains detailed provisions regarding the assignment of rights, obligations for perfection of security interests, registration requirements, and necessary consents. The document is particularly important in the Malaysian context due to specific local law requirements for security assignments, including stamp duty obligations and registration with relevant authorities such as the Companies Commission of Malaysia or land registries.
