1984 Ed.]
Companies
[CAP. 32
89
85. The Registrar, on evidence being given to his satisfaction with respect to any registered charge-
Entries of satisfaction and release of property from
(a) that the debt for which the charge was given has been paid charge.
or satisfied in whole or in part; or
(b) that part of the property or undertaking charged has been released from the charge or has ceased to form part of the company's property or undertaking,
may enter on the register a memorandum of satisfaction in whole or in part, or of the fact that part of the property or undertaking has been released from the charge or has ceased to form part of the company's property or undertaking, as the case may be; and where he enters a memorandum of satisfaction in whole he shall, if required and upon payment of the prescribed fee, endorse the words "satisfaction entered" upon the instrument creating the charge or furnish the company with a copy of the memorandum, as required. (Replaced, 6 of 1984, s. 51)
86. (1) The court, on being satisfied that the omission to register a charge within the time required by this Ordinance or that the omission or mis-statement of any particular with respect to any such charge or in a memorandum of satisfaction was accidental, or due to inadvertence or to some other sufficient cause, or is not of a nature to prejudice the position of creditors or shareholders of the company, or that on other grounds it is just and equitable to grant relief, may, on the application of the company or any person interested, and on such terms and conditions as seem to the court just and expedient, order that the time for registration shall be extended, or, as the case may be, that the omission or mis-statement shall be rectified.
(2) The grant of relief by the court under this section shall, if the court so directs, not have the effect of relieving the company or its officers of any liability already incurred under section 81.
(Replaced, 6 of 1984, s. 51)
87. (1) If any person obtains an order for the appointment of a receiver or manager of the property of a company, or appoints such a receiver or manager under any powers contained in any instrument, or as mortgagee enters into possession of the property, he shall, within 7 days from the date of the order or of the appointment under the said powers or of his entering into possession of the property, as the case may be, give notice of the fact to the Registrar, and the Registrar shall, on payment of the prescribed fee, enter the notice in the register of charges.
(2) Where-
(a) any person appointed receiver or manager of the property of a company under the powers contained in any instrument ceases to act as such receiver or manager; or
1948 c. 38. s. 100.
Extension of time for registration, and rectification of register of charges.
1948 c. 38. s. 101.
Notice to
Registrar of appointment of receiver or manager, or of mortgagee taking possession.