floating charge


Also found in: Dictionary, Legal, Wikipedia.
Related to floating charge: fixed charge

floating charge

[¦flōd·iŋ ′chärj]
(electricity)
Application of a constant voltage to a storage battery, sufficient to maintain an approximately constant state of charge while the battery is idle or on light duty.
References in periodicals archive ?
Furthermore, the claims made by the Association that the RM only pays the secured creditor which appoints him, are incorrect, pursuant to s89 of Cap 113 of the Laws of Cyprus the RM must pay the preferential creditors of the company over which they are appointed, from the proceeds of any realisations of assets subject to the floating charge, before they pay the floating charge holder.
99) Lord Justice Romer set forth the following three-part test for the existence of a floating charge.
Whether in speed limitation state or floating charge state, FPC DFIM is controlled at a certain speed.
statutory amounts payable to employees) rank in priority to any charge created as a floating charge.
A floating charge is where a company may secure a loan on a group of assets which may be dealt with freely by the company, until the occurrence of a crystallising event, when the charge will fix itself to the assets.
Pachora, Dist : Jalgaon in exercise of the powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violation of the instructions / guidelines of the Reserve Bank of India relating to creation of floating charge on its assets without the prior permission of the Reserve Bank of India.
And the similarities don't end there because another red flag was raised in Tuesday's Stock Exchange statement and it came in the form of two words that became part of the Rangers discussion during Craig Whyte's chaotic end of days - floating charge.
While discussing bad debt and loan restructuring, AKEL MP Irini Charalambidou said she had information that two of the bank's largest debtors have not signed a floating charge agreement, which allows a bank to take over a business that has trouble repaying its loans.
The Insolvency Act defines a floating charge as a charge that was a floating charge at the time of its creation, (196) and continues to treat the floating charge differently in many respects.
Whyte is understood to be the 139-year-old club's main secured creditor via a floating charge over its assets.