Release of charges
Section 113 of the Act provides that when the debt for which the charge was created has been paid or satisfied in whole or in part, the company needs to lodge certain forms to obtain a certificate of satisfaction of charges. The forms that need to be lodged to release property or undertaking from charge are Forms 41, 42B, and 43.
Both sets of forms above need to be lodged within 14 days from the date of release of charges
The fees are as follows:
1. Registration fees is RM50.
2. If late-fees for late lodgement need to be included.
Documents that are in order will be registered and the certificate for release of charges (form 42B) will be issued within 5 days