Part 25Company charges

F1 CHAPTER A1 Registration of company charges

Company charges

859F Extension of period allowed for delivery

(1)

Subsection (3) applies if the court is satisfied that—

(a)

neither the company nor any other person interested in the charge has delivered to the registrar the documents required under section 859A or (as the case may be) 859B before the end of the period allowed for delivery under the section concerned, and

(b)

the requirement in subsection (2) is met.

(2)

The requirement is—

(a)

that the failure to deliver those documents—

(i)

was accidental or due to inadvertence or to some other sufficient cause, or

(ii)

is not of a nature to prejudice the position of creditors or shareholders of the company, or

(b)

that on other grounds it is just and equitable to grant relief.

(3)

The court may, on the application of the company or a person interested, and on such terms and conditions as seem to the court just and expedient, order that the period allowed for delivery be extended.