MORTGAGES, DEBENTURES AND RECEIVERS 2o1

2) The statutory particulars of charges on property
acquired by such companies after the 31st October,
1929, subject to a subsisting charge which, if created
by an English company, would have required
registration under s. 79 [s. go].
The statutory particulars of charges subsisting on
the 1st November, 1929, which, if created after that
date, or if comprising property acquired by a com-
pany after that, would have required registration
ander s. go.

[t will be noticed that these provisions apply to companies
registered in Ireland or Scotland which have an established
place of business in England.

[t will be observed that loans secured by a deposit of
shares are not included, nor are loans secured by the deposit
of acceptances, warrants, or other negotiable instruments.
The list of mortgages and charges requiring registration at
Somerset House is thus still not complete.

Registration under s. 79 must be effected within 21 days
after the creation of the charge. To do so, the instrument
Jif any) by which the mortgage or charge is created or evidenced
or in certain cases a copy thereof [see sub-ss. (3) and (5)],
verified as required by Rule 4 of the Companies (Forms) Order,
1929, must be delivered to the Registrar, and in addition
certain particulars are required to be furnished. These
include (see Companies (Forms) Order, 1929, Form 47) the date
and description of the instrument creating or evidencing the
mortgage or charge, the amount secured, short particulars of
the property charged, and the names, addresses and descrip-
tions of the mortgagees or persons entitled to the charge.
Further, the amount or rate of any discount or commission
to subscribers for debentures must be given [s. 79 (9)]. In
the case of a series of debentures the particulars are in many
respects different [s. 79 (8) and Companies (Forms) Order,
1929, Forms 47 and 4: .

Under the Act of 1908 there was no obligation to register a
charge on property acquired by the company subsisting, prior
to the acquisition of the property by the company, and com-
panies registered outside England, did not have to register
any charges, but now as appears from the above summary,
under s. 81, where a company registered in England acquires
any property which is subject to a charge which would, if it
had been created by the company after the acquisition of the
property have been required to be registered under this part
of the Act, the company must cause the prescribed particulars

3)

Loans by
Deposit of
Securities.

Time and
Mode of
Registration.

Non-
Registration.