The involvement of a security agent (administrator zabezpieczeń) in bond issues should not be premised solely on the idea of reducing the related formalities. However, the current regulations on this role very often have precisely this effect.

The role of a security agent is not a new one. Formally, it appeared in Polish law as late as in 2015, introduced by the Bonds Act. However, a similar role existed even before as the previous Bonds Act allowed for the involvement of a mortgage administrator (administrator hipoteki), which function was introduced as part of a law amending the Title Registers and Mortgage Act with effect as of 2011. Also, the Registered Pledge and Register of Pledges Act has since 2008 enabled the appointment of pledge administrators.

For the full text of the article by attorney-at-law Anita Woroniecka, see Rzeczpospolita on-line, Dobra Firma weekly or here.