C4C5C1C2Part 25Company charges

Annotations:
Modifications etc. (not altering text)
C1

Pt. 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.

F1F1Chapter 1Companies registered in England and Wales or in Northern Ireland

Annotations:
Amendments (Textual)

Requirement to register company charges

I1C3862Charges existing on property acquired

1

This section applies where a company acquires property which is subject to a charge of a kind which would, if it had been created by the company after the acquisition of the property, have been required to be registered under this Chapter.

2

The company must deliver the prescribed particulars of the charge, together with a certified copy of the instrument (if any) by which the charge is created or evidenced, to the registrar for registration.

3

Subsection (2) must be complied with before the end of the period allowed for registration.

4

If default is made in complying with this section, an offence is committed by—

a

the company, and

b

every officer of it who is in default.

5

A person guilty of an offence under this section is liable—

a

on conviction on indictment, to a fine;

b

on summary conviction, to a fine not exceeding the statutory maximum.