Secretarial practice

Bibliographic data

Monograph

Identifikator:: 1828236004

URN:: urn:nbn:de:zbw-retromon-249926

Document type:: Monograph

Title:: Secretarial practice

Edition:: fourth edition

Place of publication:: Cambridge

Publisher:: W. Heffer & Sons Ltd

Year of publication:: 1930

Scope:: viii, 987 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XXIV. Scottish companies

Collection:: Economics Books

312 SECRETARIAL PRACTICE of such leases, the effect of which was to make such leases and assignations during their subsistence as effective against singular successors as if they were ordinary feudal convey- ances of land. Accordingly, it is not uncommon, particularly in the case of coal and mineral companies, to have leases answering the requirements of the Act as to duration, such leases then becoming susceptible to being charged or mort- gaged by the company, if it desires to borrow, as security for debenture holders or other lenders, without the necessity of actual possession by the security holders. Registration = The question has been canvassed as to whether a floating of Mortgages. charge of a company registered in England would be effective aver moveables in Scotland, and, on the other hand, whether a floating charge purporting to be given by a company registered in Scotland over moveables in England would be valid. The question raises an interesting argument as to whether the law of the domicile of the company, or the law of the place where the moveables are situated, should prevail, but so far there does not appear to be any authoritative decision on the subject. In any event, the security will be void unless it is registered with the Registrar of Companies in England in view of s. go of the Companies Act, 1929. S. 93 of the Act of 1908 as to registration of charges, etc., with the Registrar of Companies did not apply at all to companies registered in Scotland, but the corresponding section of the Act of 1929 [s. 79] does affect companies regis- tered in Scotland to the extent that if a Scottish company having an established place of business in England creates a charge on property in England or acquires property in England subject to a charge which would, if the charge were created or the property were acquired by an English company, required to be registered in England, such charge must be registered in England, notwithstanding that the company is a Scottish company [s. go]. [See also s. 9I.] Under the Act of 1908, particulars of charges given by companies registered in England over property situate in Scotland had to be duly filed with the Registrar of Companies in England and the deed con- taining the charge had to be delivered to him within twenty- one days after the date of the creation of the charge. In actual practice, this led to difficulty since the registration in the Register of Sasines invariably took considerably more than the limit of twenty-one ‘days provided by the Act of 1908. This difficulty will not arise under the Act of 1929, for by s. 79 (3) where a charge comprises property situate in Scotland and registration in Scotland is necessary to make the charge valid or effectual according to the law of that country,

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