Comparative law notes
The German language word "Wertpapier" is often translated in its singular as "security", which is also an English term that has several related meanings, but is typically used to describe collateral or some other form protection provided to creditors. This can create some semantic confusion such as, for example, when certain "securities" are actually used as "security" for a particular debt. We therefore recommend that translators use the plural "securities" whenever translating the German language term "Wertpapier" in general, such as in the name of the Austrian law the "Wertpapieraufsichtsgesetz": "Securities Supervision Act". It should not be translated as the "Security Supervision Act".