2126
No. 58 of 1911.
[8.95 contd.]
Registration
of mortgages and charges.
COMPANIES.
(b) a mortgage or charge on uncalled share capital of the company; or
(c) a mortgage or charge created or evidenced by an instrument which, if executed by an individual, would require registration as a bill of sale; or
(d) a mortgage or charge on any land, wherever situate, or any interest therein; or
(e) a mortgage or charge on any book debts of the company; or
(f) a floating charge on the undertaking or property of the company,
shall, so far as any security on the company's property or undertaking is thereby conferred, be void against the liquidator and any creditor of the company, unless the prescribed particulars of the mortgage or charge, together with the instrument (if any) by which the mortgage or charge is created or evidenced, are delivered to or received by the Registrar of Companies for registration in manner required by this Ordinance within 5 weeks after the date of its creation, but without prejudice to any contract or obligation for repayment of the money thereby secured, and when a mortgage or charge becomes void under this section the money secured thereby shall immediately become payable;
Provided that—
(i) in the case of a mortgage or charge created out of the Colony comprising solely property situate outside the Colony, the delivery to and the receipt by the Registrar of a copy of the instrument by which the mortgage or charge is created or evidenced, verified in the prescribed manner, shall have the same effect for the purposes of this section as the delivery and receipt of the instrument itself, and 5 weeks after the date on which the instrument or copy could, in due course of post, and if despatched with due diligence, have been received in the Colony, shall be substituted for 5 weeks after the date of the creation of the mortgage or charge, as the time within which the particulars and instrument or copy are to be delivered to the Registrar; and
(ii) where the mortgage or charge is created in the Colony but comprises property outside the Colony, the instrument creating or purporting to create the mortgage or charge may be sent for registration, notwithstanding that further proceedings may be necessary to make the mortgage or charge valid or effectual according to the law of the country in which the property is situate; and