Creation of charge or security: permitted over issuer and group assets, with disclosure and encumbrance consent requirements. Regulation 48 allows creation of charge or security over an issuer's or its group entities' assets and requires disclosure of any charge in the offer document and the Debenture Trust Deed, with an undertaking that the charged assets meet a hundred percent security cover or higher and are free from encumbrances, or that permissions or consent from existing creditors to create further charge have been obtained prior to creation of the charge.