The floating charges as a security device

Floating charge as a device to enable manufacturing and trading companies to raise loan capital on debentures - floating charges under s 262(1)(a) of the Corporations Act - nature of a floating charge and of property charged - crystallisation of the charge - strengths and weaknesses of the floating charge relative to other security devices - conclusion that the floating charge should be regarded as a supplementary security, taken in conjunction with a fixed charge.