The Overseas Companies (Execution of Documents and Registration of Charges) Regulations 2009

Registration of enforcement of security

20.—(1) A person who—

(a) obtains an order for the appointment of a receiver or manager of property of a company to which this Part applies, or

(b) appoints such a receiver or manager under powers contained in an instrument,

must give notice of the fact to the registrar within seven days of the order or of the appointment under those powers.

(2) A person appointed receiver or manager of a company’s property under powers contained in an instrument who ceases to act as such receiver or manager must, on so ceasing, give the registrar notice to that effect.

(3) The registrar must enter a fact of which notice is given under this regulation in the register of charges.

(4) A person who makes default in complying with the requirements of paragraph (1) or (2) commits an offence.

(5) A person guilty of an offence under this regulation is liable on summary conviction to a fine not exceeding level 3 on the standard scale and, for continued contravention, a daily default fine not exceeding one-tenth of level 3 on the standard scale.

(6) This regulation does not apply in relation to the appointment of a receiver under section 51(1) or (2) of the Insolvency Act 1986(1) (appointment under law of Scotland by holder of floating charge or by court on application of holder), as respects which section 53(1) or 54(3) of that Act requires the delivery to the registrar of a copy of the instrument or interlocutor making the appointment.

(1)

1986 c.45.