Part 25U.K.Company charges

Modifications etc. (not altering text)

C4Pts. 1-39 modified (31.12.2020) by Regulation (EC) No. 2157/2001, Art. AAA1(3) (as inserted by The European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1298), regs. 1, 97 (with regs. 140-145) (as amended by S.I. 2020/523, regs. 1(2), 5(a)-(f)); 2020 c. 1, Sch. 5 para. 1(1))

C5Pt. 25 excluded (17.2.2009 for certain purposes, otherwise 21.2.2009) by Banking Act 2001 (c. 1), s. 252(1) (with s. 247); S.I. 2009/296, arts. 2, 3, Sch.

[F1 CHAPTER A1 U.K.Registration of company charges

Textual Amendments

The registerU.K.

859K Registration of enforcement of securityU.K.

(1)Subsection (2) applies where a person—

(a)obtains an order for the appointment of a receiver or manager of a company's property or undertaking, or

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

(2)The person must, within 7 days of the order or of the appointment under those powers—

(a)give notice to the registrar of that fact, and

(b)if the order was obtained, or the appointment made, by virtue of a registered charge held by the person give the registrar a notice containing—

(i)in the case of a charge created before 6th April 2013, the information specified in subsection (4);

(ii)in the case of a charge created on or after 6th April 2013, the unique reference code allocated to the charge.

(3)Where a person appointed receiver or manager of a company's property or undertaking under powers contained in an instrument ceases to act as such a receiver or manager, the person must, on so ceasing—

(a)give notice to the registrar of that fact, and

(b)give the registrar a notice containing—

(i)in the case of a charge created before 6th April 2013, the information specified in subsection (4), or

(ii)in the case of a charge created on or after 6th April 2013, the unique reference code allocated to the charge.

(4)The information referred to in subsections (2)(b)(i) and (3)(b)(i) is—

(a)the date of the creation of the charge;

(b)a description of the instrument (if any) creating or evidencing the charge;

(c)short particulars of the property or undertaking charged.

(5)The registrar must include in the register—

(a)a fact of which notice is given under subsection (2)(a), and

(b)a fact of which notice is given under subsection (3)(a).

(6)A person who makes default in complying with the requirements of subsections (2) or (3) of this section commits an offence.

(7)A person guilty of an offence under this section 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.

(8)This section applies only to a receiver or manager appointed—

(a)by a court in England and Wales or Northern Ireland, or

(b)under an instrument governed by the law of England and Wales or Northern Ireland.

(9) This section does not apply to a receiver appointed under Chapter 2 of Part 3 of the Insolvency Act 1986 (receivers (Scotland)) F2 . ]

Textual Amendments

Modifications etc. (not altering text)

C8S. 859K power to apply (with or without modifications) conferred (31.1.2019) by Technical and Further Education Act 2017 (c. 19), ss. 8, 47(2); S.I. 2018/1161, reg. 3(a)