where a creditor takes security from an ibc for the indebtedness of the company, the company may elect to opt into the public security registration regime. in practice, a secured creditor will often insist that it does so, and loan documents often contain a covenant to this effect. once the ibc has elected to become a security registering company, then either the company or any secured creditor may register any security interest created by the company in the register of registered charges. order of entry of security interests in the public register determine priority as between competing security interests, but there is no general right of public inspection of the register or registered charges. registration of a security interest either requires an original document or a "wet-ink" certified true copy. in addition, each ibc must keep a private register of charges, but this is a matter of internal record keeping and does not affect the priority of security interests or third party creditors' rights generally.