‹ CL-3.1.3 CL-3.1.5 › CL-3.1.4 For the purpose of this section only, a bare security interest in the client's asset gives an investment firm licensee the right to realise the assets only on a client's default and without the right to use those assets other than in default. ‹ CL-3.1.3 CL-3.1.5 ›