23164-1911-Supplementary-Bill-re-published--Companies — Page 39

Registration

of enforce-

ment of

security.

* Edw. 7 c. 69 s 94.

Filing of ac- counts of re- ceivers and

managers.

[b. s. 95.

848

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 debentures 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 secu- red and the certificate shall be conclusive evidence that 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 he endorsed on every debenture or certificate of debenture 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 re- 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 created 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 therein.

Where the registration is elected on the application of some person other than the company, that person shall be entitled to recover from the company the amount of any fees properly paid by him 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 execeling fifty cents for each in- spection.

(9) Every company shall cause a copy of every instru- ment creating any mortgage or charge requiring registration under this section to be kept at the registered office of the company: Provided that, in the case 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 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 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 he shall be liable to a fine not exceeding fifty dollars for every day during which the default continues.

97.-(1) Every receiver or manager of the property of a company who has been appointed under the powers con- tained in any instrument, and who has taken possession, shall, once in every half year while he remains in posses- sion, and also on reasing 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 abstract relates, and shall also on ceasing to act as receiver or manager file 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 dofault in complying with the provisions of this section shall be liable to a fine not exceeding five hundred dollars.

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