i
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C
Rectification of register
b. s. 96.
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98. A judge of the Court, ou being satisfied that the omission to register a mortgage or charge within the of mortgages. timehereinhefore required, or that the omission or misstate- ment of any particular with respect to any such mortgage or charge, 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 terns and conditions as seem to the judge just and expedient, order that the time for registration be extended, or, as the case may be, that the omission or misstatement be rectified.
Entry of satisfaction.
18. s. 97.
Index to register of
mortgages and charges. Ib. s. 98.
Penalties. Ib. s. 99.
Company's register of mortgages. & Edw. 7 c. 69 8. 100.
99. The registrar of companies may, on evidence being given to his satisfaction that the debt for which any registered mortgage or charge was given has been paid or satisfied, order that a memorandum of satisfaction be entered on the register, and shall if required furnish the company with a copy thereof,
100. The registrar of companies shall keep a chronolo- gical index, in the prescribed form and with the prescribed particulars, of the mortgages or charges registered with him under this Ordinance.
Right to inspect copies of instruments creating mortgages
and charges and com- pany's
register of
mortgages. 10. B. 101.
101-(1) If any company makes default in sending to the registrar of companies for registration the particulars of any mortgage or charge created by the company, and of the issues of debentures of a series, requiring registration with the registrar under the foregoing provisions of this Ordin- ance, then, unless the registration has been effected on the application of some other person, the company, and every director, manager, secretary, or other persoù who is know- ingly a party to the default, shall on conviction be liable to a fine not exceeding five hundred dollars for every day during which the default continues.
(2) Subject as aforesaid, if any company makes default in complying with any of the requirements of thie Ordin- ance as to the registration with the registrar of any mort- gage or charge created by the company, the company and every director, manager, and other officer of the company, who knowingly and wilfully authorised or permitted the default shall, without prejudice to any other liability, be liable on summary conviction to a fine not exceeding one thousand dollars.
(3) If any person knowingly and wilfully authorises ar permits the delivery of any debenture or certificate of de- benture stock requiring registration with the registrar under the foregoing provisions of this Ordinance without a copy of the certificate of registration being endorsed upon it, he shall, without prejudice to any other liability, be liable on summary conviction to a fine not exceeding one thousand dollars.
102.-(1) Every limited company shall keep at irs registered office a register of mortgages and enter therein all mortgages and charges specifically affecting property of the company, giving in each case a short description of the property mortgaged or charged, the amount of the mortgage or charge, and (except in the case of securities to bearer) the names of the mortgagees or persons entitled thereto,
(2) If any director, [manager, or other officer of the com- [] pany knowingly and wilfully authorises or permits the omission of any entry required to be made in pursuance of this section, he shall be liable to a tine not exceeding five hundred dollars,
103.-(1) The copies of instruments creating any mort- gage or charge requiring registration under this Ordinance with the registrar of companies, and the register of mort- gages kept in pursuance of the last foregoing section, shall be open at all reasonable times to the inspection of the registrar of companies or of any creditor or member of the company without fee, and the register of mortgages shall also be open to the inspection of any other person ou payment of such fee, not exceeding fifty cents for each inspection, as [a] company may prescribe.
the
Right of de- benture
holders to inspect the register debenture
holders and to have copies of 1rust died.
16, s. 102.
$ Edw. 7 2.
40 s. 196.
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(2) If inspection of the said copies or register is refused, any officer of the company refusing inspection, and every director and manager of the company authorising or know- ingly and wilfully permitting the refusal, shall be liable to a fiue not exceeding fifty dollars, and a further fine not exceeding twenty dollars for every day during which the refusal continnes; and, in addition to the above penalty any judge of the Court sitting in chambers may by order compel au immediate inspection of the copies or register.
(3) If such inspection cannot be obtained at the registered office of the company with the exercise of a reasonable amount of diligence, the company shall be liable to the same penalties as it such inspection had been actually refused.
104.-(1) Every register of holders of debentures of a comp ny shall, except when closed in accordance with the articles daring su 4 period or periods (not exceeding in the whole thirty days in any year) as may be specified in the articles, be open to the inspection of the registered holder of any such debentures, and of any bolder of shares in the company, but subject to sneh reasonable restrictions as the company may in general meeting impose, so that at least two hours in each day are appointed for inspection, and every such holder may require a copy of the register or any part thereof on payment of twenty-five cents for every one hundred words required to be copied.
(2) A copy of any trust deed for securing any issue of debentures shall be forwarded to every holder of any such debentures at his request on payment in the case of a printed trust deed of the sum of one dolar or such use eam as may be prescribed by the company, or, where the trust deed has not been printed, on payment of twenty-five routs for every one hundred words required to be copied,
(3) If inspection is refused, or a copy is refused or not forwarded, the company shall be liable to a fine not ex- eeeding fifty dollars, mud to a further fine not exceeding twenty dollars for every day during which the refusal continues, and every director, ummager, secretary, or other officer of the company who knowingly authorises or permits such refusal shall incur the like penalty.
(4) If such inspection cannot be obtained at the regis tered office of the company with the exervire of a reason- able amount of diligence, the company shall be liable to the same penalties as if such inspection had beou actually refusel.
Debentures and Hosting Charges.
Perpetual
105. A coalition contained in any debentures or in any debentures. deed for securing any debentures, whether issued or executed before or after the passing of this Ordinance, shall not be invalid by reason only that thereby the deben→ tures are made irredeemable, or redeemable only on the happening of a contingency, however remote, or on the expiration of a period, however long, any rule of equity to the contrary notwithstanding.
Power to
re-issue te
D. s. 14.
108-(1) Where either before or after the passing of this Ordinance a company has redeemed any debentures pre- decmed de viously issued, the company, indess the articles or the bentures in conditions of issue expressly otherwise provide, or unless certain cases the debentures have been redeemed iu parsnance of any obligation on the company so to do (not being an obliga- Tion enforceable only by the person to whom the redeemed debentures were issued or his assigns), shall have power, and shall be deemed always to have had power, to keep the debentures alive for the purposes of re-issue, and where a company bas purported to excrcise such a power the company shall have power, and shall be deemed always to have had power, to re-issue the debentures either by re-issuing the same debentures or by issuing other deben rures in their place, and upon such a re-issue the person entitled to the debentures shall have, and shall be deemed always to have had, the same rights and priorities us if the debentures had not previously hevn issues.
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