23164-1911-Supplementary-Bill-re-published--Companies — Page 37

Limitation

of time for issue of cer- tificates. Ib. s. 92.

Registration

846

(4) The payment shall be made only for such period as may be determined by the court; and such period shall in no case extend beyond the close of the half year next after the half year during which the works or buildings have been actually completed or the plant provided:

(5) The rate of interest shall in no case exceed six per cent. per annum or such lower rate as may for the time being be prescribed by the

court:

(6) The payment of the interest shall not operate as a reduction of the amount paid up on the shares in respect of which it is paid :

(7) The accounts of the company shall show the share capital on which, and the rate at which, interest has been paid out of capital during the period to which the accounts relate.

Certificates of Shares, $e.

94. (1) Every company shall, within two months after the allotment of any of its shares, debentures, or debenture stock, and within two months after the registration of the transfer of any such shares, debentures, or debenture stock, complete and have ready for delivery the certificates of all shares, debentures, and the certificates of all debenture stock allotted or transferred, unless the conditions of issue of the shares, debentures, or debenture stock other- wise provide.

(2) If default is made in complying with the require- ments of this section, the company, and every director, manager, sceretary, and other officer of the company who is knowingly a party to the default, shall be liable to a fine not exceeding fifty dollars for every day during which the default continues,

Information as to Mortgages, Charges, &c.

95.-(i) Every mortgage or charge created after the of mortgages [

day of

19] by a company registered date of the and charges in the Colony and being either-

in Colony.

8 Edw. 7 c. 69 s. 93.

(a) a mortgage or charge for the purpose of securing

any issue of debentures; or

(6) a mortgage or charge on uncalled share capital

of the company; or

(c) a mortgage or charge crented or evidenced by an instrument which, if exccuted by an indivi- dual, would require registration as a bill of sale; or

(d) a mortgage or charge on any land, wherever

situate, or any interest therein; or

(e) a mortgage or charge on any book debts of the

company; or

(f) a floating charge on the undertaking or property

of the company,

shall, so far as any security on the company's property or undertaking is thereby conferred, be void against the liquidator and any creditor of the company, unless the prescribed particulars of the mortgage or charge, together with the instrument (if any) by which the mortgage or charge is created or evidenced, are delivered to or received by the registrar of companies for registration in manner required by this Ordinance within five weeks after the date of its creation but without prejudice to any contract or obligation for repayment of the money thereby secured, and when a mortgage or charge becomes void under this section the mouey secured thereby shall im- mediately become payable :

Provided that-

(i) In the case of a mortgage or charge created out of the Colony comprising solely property situate outside the Colony, the delivery to and the receipt by the registrar of a copy of the in- strument by which the mortgage or charge is

coming into operation

of this Or-

dinance