156 Duty to register charges

Duty to register charges

A company must register its charges under Section 108 of the Act.

Section 108(1) of the Act provides that documents and particulars required to be lodged for registration may be lodged for registration by the company concerned or by any person interested in the documents. If default is made 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 Act is One thousand ringgit.

If registration of the charges is done by a 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, as provided in Section 108(2) Companies Act 1965.

License

Duty to register charges Copyright © 2011 by Wawasan Open University. All Rights Reserved.

Feedback/Errata

Comments are closed.