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The Securities Account Control Agreement is a crucial document in Australian secured financing arrangements where securities accounts serve as collateral. This agreement is typically used when a borrower (account holder) pledges their securities account as security for a loan or other financial obligation. The agreement establishes the rights and procedures for the secured party to take control of the account upon specified events, while also setting out the securities intermediary's obligations. It must comply with Australian law, particularly the Personal Property Securities Act 2009 (Cth) and financial services regulations. The document is essential for perfecting security interests in securities accounts and ensuring the secured party has the necessary control rights recognized under Australian law.

1. Parties: Identifies and defines the Account Holder, Secured Party, and Securities Intermediary

2. Background: Sets out the context of the agreement, including reference to the underlying security agreement and the existence of the securities account

3. Definitions and Interpretation: Defines key terms and establishes interpretation principles, including references to PPSA terms

4. Account Control and Security Interest: Establishes the secured party's control over the securities account and confirms the security interest

5. Securities Intermediary's Agreements and Representations: Details the obligations and confirmations provided by the securities intermediary regarding the account

6. Account Holder's Rights and Obligations: Specifies the account holder's permitted activities and restrictions regarding the securities account

7. Control and Instructions: Details the mechanism for giving instructions regarding the account and when/how the secured party can take exclusive control

8. Priority of Instructions: Establishes the hierarchy of instructions between secured party and account holder

9. Statements and Confirmations: Requirements for account statements and transaction confirmations

10. Fees and Expenses: Allocation of fees and expenses related to the account and agreement

11. Indemnification and Limitation of Liability: Provisions regarding indemnities and limitations on liability of the parties

12. Term and Termination: Duration of the agreement and circumstances for termination

13. Notices: Procedures for giving notices under the agreement

14. General Provisions: Standard boilerplate including governing law, jurisdiction, amendments, etc.