COMPANIES ACT, 1929

600

instrument, he shall, within seven days from the date of the order
or of the appointment under the said powers, give notice of the
fact to the registrar of companies, and the registrar shall, on payment
of the prescribed fee, enter the fact in the register of charges.

(2) Where any person appointed receiver or manager of the
property of a company under the powers contained in any instru-
ment ceases to act as such receiver or manager, he shall, on so
ceasing, give the registrar of companies notice to that effect, and
the registrar shall enter the notice in the register of charges.

(3) If any person makes default in complying with the require-
ments of this section, he shall be liable to a fine not exceeding
ive pounds for every day during which the default continues.
Provisions as to Company’s Register of Charges and as to Cop:
of Instruments creating Charges.

87. Every company shall cause a copy of every instrument Copies of instru-

creating any charge requiring registration under this Part of this Jets creating
2 ges to be
Act to be kept at the registered office of the company: kept by com-
Provided that, in the-case of a series of uniform debentures, a Paoy-

copy of one debenture of the series shall be sufficient.
88.—(1) Every limited company shall keep at the registered
office of the company a register of charges and enter therein all
charges specifically affecting property of the company and all
loating charges on the undertaking or any property of the company,
giving in each case a short description of the property charged, the
amount of the charge, and, except in the case of securities to bearer.
the names of the persons entitled thereto.

(2) If any director, manager, or other officer of the company
<nowingly and wilfully authorises or permits the omission of anv
:ntry required to be made in pursuance of this section, he shall ‘-
iable to a fine not exceeding fifty pounds.
89.—(1) The copies of instruments creating any charge requiring
registration under this Part of this Act with the registrar of com-
panies, and the register of charges kept in pursuance of the last
foregoing section, shall be open during business hours (but subject
to such reasonable restrictions as the company in general meeting
may impose, so that not less than two hours in each day shall be
allowed for inspection) to the inspection of any creditor or member
of the company without fee, and the register of charges shall also
be open to the inspection of any other person on payment of such
fee, not exceeding one shilling for each inspection, as the company
may prescribe.

(2) If inspection of the said copies or register is refused, any
officer of the company refusing inspection, and every director and
manager of the company authorising or knowingly and wilfully
permitting the refusal, shall be liable to a fine not exceeding five
pounds, and a further fine not exceeding two pounds for every
day during which the refusal continues.

Company's
register of
~harges.

Right to inspect
copies of instru-
nents creating
nortgages and
:harges and com-
’any’s register
f charges.