i) A fixed charge:
Section 86(2) of ACT 179 provides that debentures may be secured by a fixed charge on certain of the company’s property. Once the property is subject to the fixed charge, the company cannot dispose of it without reference to the debenture holders. The asset subject to the fixed charge is bare land, a building, a vehicle, plant machinery, or equipment. Enforceability of a fixed charge allows the court to appoint a receiver (Section 87(5) of ACT 179). (3 marks)

ii) A bond:
A bond is a written instrument to pay money or do some act if certain circumstances occur or a certain time elapses. The distinguishing feature of a bond is that it is an obligation to pay a fixed sum of money at a definite time with a stated interest. (3 marks)