168 Duty to register charges

Duty to register charges

It is the duty of the company to register charges.

Section 109 of the Act provides that, with regard to charges, documents and particulars required to be lodged for registration in accordance with section 108 may be lodged for registration by the company concerned or by any person interested in the documents.

In the case of a default in complying with this section, the company and every officer of the company who is in default shall be guilty of an offence against this Act.

The default penalty for an offence against this section is one thousand ringgit.

Section 109(2) of the Act states that if the registration of the charges is done or effected by some person other than the company, that person shall be entitled to recover from the company the amount of any fees properly paid by him on the registration.


BCS 202/05 Corporate Compliance Management Copyright © 2011 by Wawasan Open University. All Rights Reserved.


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