193569-1932-Supplementary-Bill-read-a-first-time--Companies — Page 30

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Colony (or, in the case of a China company, outside the said district) the delivery to and the receipt by the re- gistrar of a copy verified in the prescribed manner of the instrument by which the charge is created or evidenced, shall have the same effect for the purposes of this section as the delivery and receipt of the instrument itself, and five weeks after the date on which the instrument or copy could, in due course of post, and if despatched with due diligence, have been received in the Colony (or Shanghai, in the case of a China company) shall be substituted for five weeks after the date of the creation of the charge, as the time within which the particulars and instrument or copy are to be delivered to the registrar.

(4) Where a charge is created in the Colony but comprises property outside the Colony (or where, in the case of a China company, it is created within the limits of the China Orders in Council but comprises property outside the said limits) the instrument creating or purporting to create the charge may be sent for registration under this section notwithstanding that further proceedings may be necessary to make the charge valid or effectual according to the law of the country in which the property is situate.

(5) Where a negotiable instrument has been given to secure the payment of any book debts of a com- pany 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 charge on those book debts.

(6) The holding of debentures entitling the holder to a charge on land shall not for the purposes of this section be deemed to be an interest in land.

(7) 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 are entitled pari passu is created by a company, it shall for the purposes of this section be sufficient if there are delivered to or received by the registrar within five weeks after the execution of the deed containing the charge or, if there is no such deed, after the execution of any debentures of the series, the following particulars :-

(a) the total amount secured by the whole series,

and

(b) 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;

and

(d) the names of the trustees, if any, for the

debenture holders;

together with the deed containing the charge, or, if there is no such deed, one of the debentures of the series :

Provided that, where more than one issue is made of debentures in the series, there shall be sent 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 deben- tures issued.

(8) Where any commission, allowance, or discount has been paid or made either directly or indirectly by a company to any person in consideration of his subscribing or agreeing to subscribe, whether absolute- ly or conditionally, for any debentures of the company, or procuring or agreeing to procure subscriptions, whether absolute or conditional, for any such deben- tures, the particulars required to be sent for registration under this section shall include particulars as to the amount or rate per cent, of the commission, discount,

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