The Floating Deed of Trust is a sophisticated legal instrument utilized in Australian business and financial transactions where parties require a flexible security arrangement over changing assets. This document is particularly valuable when businesses need to secure financing while retaining the ability to deal with their assets in the ordinary course of business. The Floating Deed of Trust creates a security interest that "floats" over a class of assets until a specified event triggers crystallization, at which point the security becomes fixed. It is commonly used in corporate financing, asset-based lending, and business restructuring scenarios, providing protection for security holders while allowing operational freedom for the business. The document must comply with Australian trust law principles, the Personal Property Securities Act 2009 (Cth), and relevant state-specific legislation.
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1. Parties: Identifies the settlor, trustee, beneficiaries, and any security trustee
2. Background: Sets out the context and purpose of the trust arrangement
3. Definitions and Interpretation: Defines key terms and establishes interpretation principles
4. Declaration of Trust: Formal establishment of the trust and acceptance by trustee
5. Trust Property: Describes the property subject to the floating charge
6. Nature of Floating Charge: Defines the floating nature of the security and crystallization events
7. Trustee Powers and Duties: Comprehensive list of trustee's powers and obligations
8. Security Provisions: Details of security arrangements and enforcement rights
9. Representations and Warranties: Standard declarations about capacity and authority
10. Events of Default: Circumstances constituting default and consequences
11. Enforcement: Powers and procedures for enforcing security interests
12. Costs and Indemnities: Allocation of costs and trustee indemnification
13. Termination: Circumstances and procedures for terminating the trust
14. General Provisions: Standard boilerplate clauses including notices, governing law, etc.
1. Priority Arrangements: Required when there are multiple security interests or creditors
2. Income and Distribution Rules: Needed for trusts with complex distribution arrangements
3. Investment Powers: Required for trusts with significant investment activities
4. Appointor Provisions: Included when there is an appointor role to change trustees
5. Foreign Investment Provisions: Required when trust involves foreign investors or assets
6. GST Provisions: Detailed when trust involves significant commercial transactions
7. Electronic Execution: Required when parties wish to execute electronically
1. Schedule 1 - Trust Property: Detailed description of all assets subject to the floating charge
2. Schedule 2 - Beneficiaries: List of beneficiaries and their respective interests
3. Schedule 3 - Security Registration Details: PPSR and other security registration information
4. Schedule 4 - Trustee Remuneration: Details of trustee fees and payment arrangements
5. Schedule 5 - Permitted Encumbrances: List of allowed encumbrances on trust property
6. Appendix A - Execution Forms: Forms and requirements for executing trust documents
7. Appendix B - Compliance Certificates: Templates for ongoing compliance certification
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Relevant Industries
Financial Services
Banking
Asset Management
Real Estate
Manufacturing
Mining and Resources
Infrastructure
Retail
Wholesale Trade
Professional Services
Agriculture
Relevant Teams
Legal
Finance
Treasury
Compliance
Risk Management
Corporate Secretariat
Security Operations
Trust Administration
Asset Management
Corporate Finance
Relevant Roles
Chief Financial Officer
Finance Director
Corporate Lawyer
Legal Counsel
Trust Manager
Security Trustee Officer
Compliance Officer
Risk Manager
Treasury Manager
Company Secretary
Asset Manager
Corporate Finance Manager
Banking Relationship Manager
Trust Administrator
Security Operations Manager
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