167 A charge has to be registered

A charge has to be registered

After a charge is created, a company is required to register it within 30 days with the Companies Commission of Malaysia.

Section 108(1) of the Act states that “a company is required to register it within 30 days with the Companies Commission of Malaysia within 30 days after a charge is created”.

The Act further states that when the charge becomes void, money secured shall immediately become payable, as provided in Section 108(2) Companies Act 1965.

 

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