252
253
for "five pounds"
for "Ant"
for "fifty pounds"
for "Act
for "shilling"
Registration of enforce- ment of security.
19 & 20 Geo.
5, c. 23, s. 86.
Copies of
34
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 misstatement shall be rectified.
86.-(1) If any person obtains an order for the ppointment 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, he shall, within seven days from the date of the order or of the appointment under the said powers, give notice of the fact to the registrar of companies, and the registrar shall, on payment of the prescribed fee, anter the fact in the register of charges.
(2) Where any person appointed receiver or manager of the property of a company under the powers con- tained in any instrument ceases to act as such receiver or manager, he shall, on so ceasing, give the registrar of companies notice to that effect, and the registrar -hall enter the notice in the register of charges,
(3) If any person makes default in complying with the requirements of this section, he shall be liable to a fine not exceeding fifty dollars for every day during which the default continues.
Provisions as to Company's Register of Charges and as to Copies of Instruments creating Charges. 87. Every company shall cause a copy of every instruments instrument creating any charge requiring registration creating under this Part of this Ordinance to be kept at the
registered office of the company:
charges to be kept by
company.
19 & 20 Geo.
5, c. 23,
s. 87.
Company's register of charges.
19 & 20 Geo. 5, c. 23, 3. 88.
Right to inspect copies of instruments creating Inortgages and charges
and com- pany's register of charges.
19 & 20 Geo. 5, c. 23,
s. 89.
Provided that, in the case of a series of uniform debentures, a copy of one debenture of the series shail be sufficient.
88. (1) Every limited company shall keep at the registered office of the company a register of charges and enter therein all charges specifically affecting pro- perty of the company and all floating charges on the undertaking or any property of the company, giving in each case short description of the property charged, the amount of the charge, and, except in the case of securities to bearer, the names of the persons entitled thereto.
a
(2) If any director, manager, or other officer of the company knowingly and wilfully authorises or permita the omission of any entry required to be made in pursuance of this section, he shall be liable to a fine not exceeding five hundred dollars.
89.-(1) The copies of instruments creating any charge requiring registration under this Part of this Ordinance with the registrar of companies, and the register of charges, kept in pursuance of the last foregoing section, shall be open during business hours (but subject to such reasonable restrictions as the company in general meeting may impose, so that not less than two hours in each day shall be allowed for inspection) to the inspection of any creditor or mem- ber of the company without fee, and the register of charges shall also be open to the inspection of any other person on payment of such fee, not exceeding one dollar for each inspection, as the company may prescribe.
(2) If inspection of the said copies or register 18 refused, any officer of the company refusing inspection. and every director and manager of the company authorising or knowingly and wilfully permitting the
+
35
refusal, shall be liable to a fine not exceeding fifty dollars and a further fine not exceeding twenty dollars for every day during which the refusal continues.
(3) If any such refusal occurs in relation to a com- pany registered in the Colony, the court may by order compel an immediate inspection of the copies or register.
Application of Part III. to Companies incorporated outside the Colony.
for "fire pounds"
for "two pounds"
for "England"
90. The provisions of this Part of this Ordinance Application shall extend to charges on property in the Colony of Part III
to charges which are created, and to charges on
property in created, and the Colony which is acquired, after the commencement property of this Ordinance, by a company (whether a company subject to within the meaning of this Ordinance or not) incor- charge ac- porated outside the Colony which has an established quired by place of business in the Colonv,
Transitional Provision as to matters required to be registered under this Ordinance, but not under former Ordinances.
company incorporated outside
the Colony,
19 & 20 Geo.
5. c. 23, 8. 90.
91.-(1) It shall be the duty of a company within Provision six months after the commencement of this Ordinance as to charges to send to the registrar of companies for registration charges the prescribed particulars of
created, and
on property acquired, by
(a) any charge created by the company before company
the date of the commencement of this Ordin- before com- ance and remaining unsatisfied at that date, mencement
of Ordin- which would have been required to be regis. ance. tered under the provisions of paragraphs (9), 19 & 20 Geo. (h) and () of subsection (2) of section 5, c. 23, seventy-nine of this Ordinance or under the 5. 91. provisions of section ninety of this Ordinance. if the charge had been created after the com- mencement of this Ordinance; and
(b) any charge to which any property acquired by the company before the commencement of this Ordinance is subject and which would have been required to be registered under the provisions of section eighty-one of this Ordin- ance or under the provisions of section ninety of this Ordinance if the property had been acquired after the commencement of this Ordinance.
(2) The registrar, on payment of the prescribed fee, shall enter the said particulars on the register kept
by him in pursuance of this part of this Ordinance.
(8) If a company fails to comply with this section, the company and every director, manager, secretary or other officer of the company, or other person who is knowingly a party to the default shall be liable to
a fine not exceeding five hundred dollars for every day during which the default continues:
Provided that the failure of the company shall not prejudice any rights which any person in whose favour the charge was made may have thereunder.
(4) For the purposes of this section, the expression company " includes a company (whether a company within the meaning of this Ordinance or not) incor- porated outside the Colony which has an established place of business in the Colony.
PART IV.
MANAGEMENT AND ADMINISTRATION, Registered Office and Name.
92. (1) A company shall, as from the day on Registered which it begins to carry on business or as from the office of twenty-eighth day after the date of its incorporation, company
19 & 20 Geo. whichever is the earlier, have a registered office 5, c. 23, the Colony (or, in the case of a China company,
within s. 92.
for "England" for "Act" "for" "England" for "Act"
do
do.
for England"
do
for" "Act"
from
"Acts"
for "Qet"
from "Act"
do
do do.
AAAA
do
do
do
do.
do
for "fifty pounds"
for "Act for "England"
added.
11.