The importance of control when taking a charge over cash.

After a wait of seven years, we now have the first English case on the question which lies at the heart of the Financial Collateral Arrangements (No 2) Regulations 2003: what degree of control must a collateral-taker be given over financial collateral to enable it to obtain a "security financial collateral arrangement"? The case is important to all who take and rely on charges over financial collateral. [ABSTRACT FROM AUTHOR]