Part 25Company charges
Chapter 1Companies registered in England and Wales or in Northern Ireland
Avoidance of certain charges
874Consequence of failure to register charges created by a company
1
If a company creates a charge to which section 860 applies, the charge is void (so far as any security on the company’s property or undertaking is conferred by it) against—
a
a liquidator of the company,
b
an administrator of the company, and
c
a creditor of the company,
unless that section is complied with.
2
Subsection (1) is subject to the provisions of this Chapter.
3
Subsection (1) is without prejudice to any contract or obligation for repayment of the money secured by the charge; and when a charge becomes void under this section, the money secured by it immediately becomes payable.