Registration
of enforce-
ment of
security.
8 Edw. 7 c.
60 s. 31.
Filing of ac-
ceivers and
managers.
Ib. s. 93.
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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 debcatures as security for any debt of the company shall not for the purposes of this provision be treated as the issue of the debentures at a discount.
(5) The registrar shall give a certificate under his hand of the registration of any mortgage or charge registered in pursuance of this section, stating the amount thereby semi- red and the certificate shall be conclusive evidence thar 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 cutorstad on every debenture or certificate of deboumre 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 ro- 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 crcated by the company and of the issues of debentures of a series, requiring registration under this section, but registration of any such mortgage or charge may be effected on the application of any person interested +hereit.
Where the registration is elected on the application of satno person other than the company, that person shall be entitled to recover from the company the amount of any fees properly paid by bius to the registrar on the registration.
(8) The register kept in pursuance of this section shall be open to inspection by any person on payment of the prescribed fee, not exceeding fifty cents for each in- spection.
(9) Every company shall canso a copy of every instru- ment creating any mortgage or charge requiring registration under this section to he kept at the registered offier of the rompany: Provided that, in the cure of a series of uniform debentures, a copy of one such debenture shall be sufficient.
96.-(1) If any person obtains an order for the appoint- ment of a receiver or manager of the property of a company, or appolute sach a receiver or manger under any powers contained in any instrument, he shail, within seven days from the date of the order or of the appointuent 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 makes default in complying with the requirements of this section ho shall be fiable to a thue not executing fifty dollars for every day during which the default continues.
97.-1) Every receiver or manager of the property of counts of re- a company who has beco appointed under the powers con- tained in any instrument, and who has taken possession, shall, once in every half year while be remainis in possos- sion, and also on cessing to act as receiver or manager, file with the registrar of companies an abstract in the prescribed form of his receipts and payments during the period to which the abstrust relates, and shall also ou ceasing to act as receiver or manager tile with the registrar notice to that effect, and the registrar shall 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 Buble to a fine nor exceeding five hundred dollars.
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93. A judge of the Court, on being satisfied that Rectification
of register the omission to register a mortgage or charge within the of mortgages. time bereiubefore required, or that the omission or misstate- 8 Edw. 7 C. ment of any particular with respect to any such mortgage or 69 s. 96. 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, uay, on the application of the company or any person interested, and on each terms and conditions us seem to the judge just and expedient, order that the time for registration lo extended, or, as the case may be, that the omission or misstatement be rectified.
Ib. 6. 97.
99. The registrar of companies may, on evidence being Fatty of given to his satisfaction that the debt for which any satisfaction. registered mortgage or charge was given has been paid or satisfied, order that A memorandata 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- Index to gical index, in the prescribed form and with the prescribed register of particulars, of the mortgages or charges registered with mortgages
and charges. him under this Ordinance.
Ib. s. 98.
101) If any company makes default in sending to Penalties. the registrar of companies for registration the particulars of Ib. s. 99. 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 person 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 daring which the default continues.
(2) Subject as aforesaid, if any company makes default in complying with any of the requirements of this 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 ono thousand dollars.
(3) If any person knowingly and wilfully authorises or permits the delivery of any debenture or certificate of de- benture stock requiring registration with the registrar onder the foregoing provisions of this Ordinanco without a copy of the certificate of registration being endorsed upon it, be shall, without prejudice to any other liability, be liable on summary conviction to a fiue uot exceeding one thousand dollars,
102.--(1) Every limited company shall keep at its company's registered office a register of mortgages and enter therein register of all mortgages and charges specifically affecting property mortgages. of the company, giving in each case a short description 4. s. 100. 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 persous entitled thereto.
(2) If any director or other officer of the company know- ingly 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 fine not exceeding five hundred
dollars.
103.-(1) The copies of instruments creating any mort- Right to gage or charge requiring registration under this Ordinance inspect with the registrar of companies, and the register of mort- copies of creating gages kept in pursuance of the last foregoing section, shall instruments be open at all reasonable times to the inspection of the mortgages registrar of companies or of any creditor or member of the and charges company without fec, and the register of mortgages shall and com- also he open to the inspection of any other person on pany's payment of such fee, not exceeding fifty ceurs for each register of inspection, as the company may prescribe.
mortgages. Ib. 8. 101.
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