158 Register of charges to be kept by Registrar

Register of charges to be kept by Registrar

Section 111 of the Act refers to chargers in the register.

The Registrar shall keep a register of all the charges lodged for registration and shall enter in the register with respect to those charges the following particulars:

(a) in the case of a charge to the benefit of which the holders of a series of debentures are entitled, such particulars as are required to be contained in a statement furnished under Section 108(5); and

(b) in the case of any other charge –

(i) if the charge is a charge created by the company, the date of its creation, and if the charge was a charge existing on property acquired by the company, the date of the acquisition of the property;

(ii) the amount secured by the charge;

(iii) a description sufficient to identify the property charged; and

(iv) the name of the person entitled to the charge.

The Registrar shall issue a certificate of every registration and the certificate shall be conclusive evidence that the requirements as to registration have been complied with, as provided in Section 111(2) of the Companies Act 1965.

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Register of charges to be kept by Registrar Copyright © 2011 by Wawasan Open University. All Rights Reserved.

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