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Industrial and Provident Societies Act 1967

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This is the original version (as it was originally enacted).

4Filing of information relating to charges

(1)In respect of every floating charge created by a registered society under the Act of 1961 as applied by section 3 above there shall be delivered by post or otherwise to the registrar, within the period of fourteen days beginning with the day of execution of the instrument creating the charge (or within any extended period allowed under subsection (2) of this section),—

(a)a copy of the instrument, authenticated in the prescribed manner;

(b)a note, 60 authenticated, of such particulars relating to the charge as may be prescribed; and

(c)such fee as may be determined in pursuance of section 70 of the principal Act as applied by this Act;

and if in the case of any such charge the said copy, note and fee are not delivered as aforesaid within the period limited by this subsection the charge shall be void against any person other than the society concerned.

(2)If in the case of any such charge it appears to the Court of Session, on the application of the society by whom the instrument creating the charge was executed or of any other person claiming the benefit of the instrument, that by reason of inadvertence or other sufficient cause—

(a)a duly authenticated copy of the instrument was not delivered to the registrar within the period of fourteen days mentioned in subsection (1) of this section; or

(b)any matters were omitted from, or were mis-stated in, the note required under that subsection to be delivered to the registrar,

the Court may, on such terms as it thinks fit, order that the said period shall be extended or, as the case may be, that the omission or mis-statement shall be rectified.

(3)Where any person delivers to the registrar any document such as is mentioned in paragraph (a) or paragraph (b) of subsection (1) of this section, together with the fee mentioned in paragraph (c) of that subsection, it shall be the duty of the registrar to secure—

(a)that there is issued to that person an acknowledgment in the prescribed form stating the date on which, and the time at which, the delivery was effected;

(b)that the document delivered and a copy of the acknowledgment are placed on a file maintained by the registrar in respect of the society concerned ; and

(c)that the file is available for inspection during office hours by members of the public on payment of such fee as may be determined in pursuance of section 70 of the principal Act as applied by this Act.

(4)Any acknowledgment issued in pursuance of paragraph (a) of the last foregoing subsection shall be conclusive evidence that any document specified by the acknowledgment was delivered to the registrar on the date, and at the time, so specified.

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