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created or ovidenced, verified in the prescribed manner, shall have the same effect for the purposes of this section as tho delivery and receipt of the instrument itself, and twenty-one days after the date on which the instrument or copy could, in due course of post, end if despatched with due diligence, have been received in the Colony, shall be substituted for twenty-one days after the date of the crea- tion of the mortgage or charge, as the time within which the particulars and instrument or copy are to be delivered to the registrar; and (2) where the mortgage or charge is created in the Colony but comprises property outside the Colony, the instrument creating or purport- ing to create the mortgage or charge may be sent for registration, notwithstanding that further proceedings may be necessary to makə the mortgage or charge valid of affectual areording to the law of the country in which the property is situate; and
(iii) where a negotiable instrument has been given to secure the payment of any book debis of a cotopany, the deposit of the instrument for the purpose of securing an advance to the company shall not for the purposes of this section be treated as a mortgage or charge on these book debts; and
(i) the holding of debentures entitling the holder to a charge on land shall not be doomed to be au interest in land.
(2) The registrar shall keep, with respect to each com- pany, a register in the prescribed form of all the mortgages and charges created by the company after the date of tho coming into operation of this Ordinance, aud requiring registration under this section, and shall, on payment of the prescribed fee, enter in the register, with respect to every such mortgage or charge, the date of creation, the amount securel by it, short particulars of the property mortgaged or charged, and the names of the mortgagees er persous entitled to the charge.
(3) Where a series of debentures containing, or giving by reference to any other instrument, any charge to the benefit of which the debenture holders of that series aro entitled pari pass is created by a company, it shall be sufficient if there are delivered to or received by the regis- trar within twenty-one days after the oxecution of the deed containing the charge or, if there is no ench deed, after the execution of any debeatures of the serios, the following particulars :---
()the total amount secured by the whole series; and ()the dates of the resolutions authorising the issue of the series and the date of the covering deed, if any, by which the security is created or defined; and
(c) a general description of the property charged;
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(4) the names of the trustees, if any, for the deben-
ture holders:
together with the deed containing the charge, or, if there is no such deed, one of the debentures of the series, and the registrar shall, on payment of the prescribed fee, enter those particulars in the register:
Provided that, where more than one isue is made of de- bontures in the series, there shail bo seur to the registrar for entry in the register particulars of the date and amount of each issue, but an omission to do this shall not affect the validity of the debentures issued.
(4) Where any commission, uilowance, or discount has been paid or unde, nither directly or indirectly, by the company to any person la consideration of his subscribing or agreeing to subscribe, whether absolutely or conditionally, for any debentures of the company, or procuring or agrees ing to procure subscriptious, whether absolute or conditional, for any such debentures, the partientais required to be sent for registration under this section shall include particulars
approveds
Registration
of enforce- ment of security.
8 Edw. 7 c. 69 g. 94.
Filing of ac- counts of re-
ceivers and managers,
3. 9, 95.
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as to the amount or rate per cent. of the commission, discount, or allowance so paid or made, but an omission to do this shall not affect the validity of the debentures issued:
Provided that the deposit of any debentures as security for any debt of the company shall not for the purposes of this provisiou be treated as the issue of the debentures at a discount.
(5) The registrar shall give a certifiente under his hand of the registration of any mortgage or charge registered in pursuance of this section, stating the amount thereby seen- red and the certificate shall he conclusive evidence that the requirements of this section as to registration have been complied with.
(6) The company shall cause a copy of every certificate
of registration given under this section to be endorsed on every debenture or certificate of debouture stock which is issued by the company, and the payment of which is secured by the mortgage or charge so registered :
Provided that nothing in this subsection shall be con- strued as requiring a company to cause a certificate of re- gistration of any mortgage or charge so given to be en- dorsed on any debenture or certificate of debenture stock which has been issued by the company before the mortgage
or charge was created.
(7) It shall be the duty of the company to send to the registrar for registration the particulars of every mort- gage or charge created by the company and of the issues of debentures of a serios, requiring registration under this section, but registration of any such mortgage or charge may be effected on the application of any person interested therein.
Where the registration is eflected on the application of some person other than the company, that person shall be entitled to recover from the company the amount of any fees properly paid by him to the registrar on the registration.
(8) The register kept in pursuance of this section shal! be open to inspection by any person on payment of the proscribed fee, not exceeding fifty cents for each in- spection.
(9) Every company shall cause a copy of every instru- ment creating any mortgage or charge requiring registration under this section to be kept at the registered office of the company: Provided that, in the ease of a series of uniform debentures, a copy of one such debenture shall be sufficient.
06.-(1) If any person obtains an order for the appoint- ment 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, be shall, within seven days from the date of the order or of the appointment under the powers contained in the instrument give notice of the fact to the registrar of companies, and the registrar shall, on pay- ment of the prescribed fee, enter the fact in the register of mortgages and charges,
(2) If any person takes default in complying with the requirements of this section be shall be able to a fine not exceeding fifty dollars for every day during which the default continues.
97.-(1) Every receiver or manager of the property of a company who has been appointed under the powers con- tained to any instrument, and who has taken possession, shall, once in every half year while he remains in posses- sion, and also on censing to net as receiver or manager, file with the registrar of companies an abstract in the prescribed form of his receipts and payments during the perind to which the abstract relates, and shall also on censing to act as revolver or manager file with the registrar notice to that effect, and the registrar skall enter the notice in the register of mortgages and charges.
(2) Every receiver or manager who makes default in complying with the provisions of this section shall be liable to a fine not exceeding five hundred dollars.
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