- This is not current policy -
The policy in this manual ceases to be effective from 29 November 2010.
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unencumbered funds
From policy: BI7.10 Ownership of nominated funds and/or assets (Investor Category)
BI7.10.5 Definition of ‘unencumbered funds’
Unencumbered funds are:
- funds that are not subject to any mortgage, lien, charge and/or encumbrance (whether equitable or otherwise) or any other creditor claims whatsoever; and
- funds that can be transferred lawfully, and the transfer is in accordance with the policy at BI9.5.
Effective 04/07/2005