A company that creates a charge to which this section applies must deliver the prescribed particulars of the charge, together with the instrument (if any) by which the charge is created or evidenced, to the registrar for registration
before the end of the period allowed for registration.
- - Other people can do this and get repaid for doing so
- - Not doing so is an offence
- It applies to the following charges:
- - charge on land or any interest in land, other than a charge for any rent or other periodical sum issuing out of land
- - a charge created or evidenced by an instrument which, if executed by an individual, would require registration as a bill of sale,
- - a charge for the purposes of securing any issue of debentures
- - a charge on uncalled share capital of the company
- - a charge on calls made but not paid
- - a charge on book debts of the company
- - a floating charge on the company's property or undertaking
- - a charge on a ship or aircraft, or any share in a ship,a charge on goodwill or on any intellectual property.
When doing due diligence there should be a register of these charges. If there is not it may be void (s874)