193704-1932-Supplementary-Bill-read-a-second-time--Companies — Page 32

Register of charges to be kept by registrar of companies. 19 & 20 Geo.

5, c. 23, 5. 82.

Endorse- ment of certificate of registra- tion on de- bentures.

19 & 20 Geo. 5, c. 23, s. 83.

Entry of

satisfaction. 19 & 20 Geo. 5, c. 23, s. 84.

Rectification of register of charges. 19 & 20 Geo. 5, c. 23,

8. 85.

1558

82.-(1) The registrar of companies shall keep, with respect to each company, a register in the prescribed form of all the charges requiring registration under this Part of this Ordinance, and shall, on payment of the prescribed fee, enter in the register with respect to such charges the following particulars:

(a) in the case of a charge to the benefit of which the holders of a series of debentures are entitled, such particulars as are specified in subsection (7) of section seventy-nine of this Ordinance;

(b)

in the case of any other charge-

(i) if the charge is a charge created by the company, the date of its creation, and if the charge was a charge existing on pro- perty acquired by the company, the date of the acquisition of the property; and

(ii) the amount secured by the charge; and

(iii) short particulars of the property charged; and

(iv) the persons entitled to the charge.

(2) The registrar shall give a certificate under his hand of the registration of any charge registered in pursuance of this Part of this Ordinance stating the amount thereby secured, and the certificate shall be conclusive evidence that the requirements of this Part of this Ordinance as to registration have been com- plied with.

(3) The register kept in pursuance of this section shall be open to inspection by any person on payment of the prescribed fee, not exceeding one dollar for each inspection.

(4) The registrar shall keep a chronological index, in the prescribed form and with the prescribed particu- lars, of the charges entered in the register.

83.-(1) The company shall cause a copy of every certificate of registration given under the last fore- going section to be endorsed on every debenture or certificate of debenture stock which is issued by the company, and the payment of which is secured by the charge so registered:

Provided that nothing in this subsection shall be construed as requiring a company to cause a certificate of registration of any charge so given to be endorsed on any debenture or certificate of debenture stock issued by the company before the charge was created.

(2) If any person knowingly and wilfully authorises or permits the delivery of any debenture or certificate of debenture stock which under the provisions of this section is required to have endorsed on it a copy of a certificate of registration without the copy being so endorsed upon it, he shall, without prejudice to any other liability, be liable to a fine not exceeding one thousand dollars.

84. The registrar of companies may, on evidence being given to his satisfaction that the debt for which any registered 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.

85. The court, on being satisfied that the omission to register a charge within the time required by this Ordinance, or that the omission or misstatement of any particular with respect to any such charge or in a memorandum of satisfaction, was accidental, or due to inadvertence or to some other sufficient cause, or

1