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The Companies (Northern Ireland) Order 1986

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[F1Entries of satisfaction and releaseN.I.

411.(1) [F2Subject to paragraph (1A), the registrar], on receipt of a statutory declaration in the prescribed form verifying, with respect to a registered charge—

(a)that the debt for which the charge was created has been paid or satisfied in whole or in part, or

(b)that part of the property or undertaking charged has been released from the charge or has ceased to form part of the company's property or undertaking,

may enter on the register a memorandum of satisfaction in whole or in part, or of the fact that part of the property or undertaking has been released from the charge or has ceased to form part of the company's property or undertaking (as the case may be).

[F2(1A )F3 The registrar may make any such entry as is mentioned in paragraph (1) where, instead of receiving such a statutory declaration as is mentioned in that paragraph, he receives a statement by a director, secretary, administrator or administrative receiver of the company which is contained in an electronic communication and that statement—

(a)verifies the matters set out in sub-paragraph (a) or (b) of that paragraph,

(b)contains a description of the charge,

(c)states the date of creation of the charge and the date of its registration under this Part,

(d)states the name and address of the chargee or, in the case of a debenture, trustee, and

(e)where sub-paragraph (b) of paragraph (1) applies, contains short particulars of the property or undertaking which has been released from the charge, or which has ceased to form part of the company's property or undertaking (as the case may be).]

(2) Where the registrar enters a memorandum of satisfaction in whole, he shall, if required, furnish the company with a copy of it.

[F2(3) Any person who makes a false statement under paragraph (1A) which he knows to be false or does not believe to be true is liable to imprisonment or a fine, or both.]]

F1Pt. XIII (arts. 402-417J) substituted (prosp.) for arts. 402-417 by 1990 NI10, arts.. 28-40 (never in operation; amending provisions repealed 1.10.2009 by 2006 c. 46. Sch. 16)

F2SR 2003/3

F3mod. by SR 2004/307

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