C9C8C7C4C1C2Part 25Company charges

Annotations:
Modifications etc. (not altering text)
C4

Pts. 1-39 modified (31.12.2020) by Regulation (EC) No. 2157/2001, Art. AAA1(3) (as inserted by The European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1298), regs. 1, 97 (with regs. 140-145) (as amended by S.I. 2020/523, regs. 1(2), 5(a)-(f)); 2020 c. 1, Sch. 5 para. 1(1))

C1

Pt. 25 excluded (17.2.2009 for certain purposes, otherwise 21.2.2009) by Banking Act 2001 (c. 1), s. 252(1) (with s. 247); S.I. 2009/296, arts. 2, 3, Sch.

C9C8F1 CHAPTER A1 Registration of company charges

Annotations:
Amendments (Textual)

Company charges

C6C3859ACharges created by a company

1

Subject to subsection (6), this section applies where a company creates a charge.

2

The registrar must register the charge if, before the end of the period allowed for delivery, the company or any person interested in the charge delivers to the registrar for registration a section 859D statement of particulars.

3

Where the charge is created or evidenced by an instrument, the registrar is required to register it only if a certified copy of the instrument is delivered to the registrar with the statement of particulars.

C54

“The period allowed for delivery” is 21 days beginning with the day after the date of creation of the charge (see section 859E), unless an order allowing an extended period is made under section 859F(3).

5

Where an order is made under section 859F(3) a copy of the order must be delivered to the registrar with the statement of particulars.

6

This section does not apply to—

a

a charge in favour of a landlord on a cash deposit given as a security in connection with the lease of land;

b

a charge created by a member of Lloyd's (within the meaning of the Lloyd's Act 1982 F2) to secure its obligations in connection with its underwriting business at Lloyd's;

c

a charge excluded from the application of this section by or under any other Act.

7

In this Part—

  • “cash” includes foreign currency,

  • “charge” includes—

    1. a

      a mortgage;

    2. b

      a standard security, assignation in security, and any other right in security constituted under the law of Scotland, including any heritable security, but not including a pledge, and

  • “company” means a UK-registered company.