Full text: Secretarial practice

506 SECRETARIAL PRACTICE 
charge or, if there is no such deed, after the execution of any deben- 
tures of the series, the following particulars:— 
(a) the total amount secured by the whole series; and 
(b) the dates of the resolutions authorising the issue of the 
series and the date of the covering deed, if any, by which 
the security is created or defined; and 
(c) a general description of the property charged; and 
(@d) the names of the trustees, if any, for the debenture holders: 
together with the deed containing the charge, or, if there is no such 
deed, one of the debentures of the series. 
Provided that, where more than one issue is made of debentures 
in the series, there shall be sent to the registrar for entry in the 
register particulars of the date and amount of each issue, but an 
omission to do this shall not affect the validity of the debentures 
issued, 
(9) Where any commission, allowance, or discount has been 
paid or made either directly or indirectly by a company to any 
person in consideration of his subscribing or agreeing to subscribe, 
whether absolutely or conditionally, for any debentures of the 
company, or procuring or agreeing to procure subscriptions, whether 
absolute or conditional, for any such debentures, the particulars 
required to be sent for registration under this section shall include 
particulars as to the amount or rate per cent. of the commission, 
discount, or allowance so paid or made, but 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 subsection 
be treated as the issue of the debentures at a discount. 
(10) In this Part of this Act— 
(a) the expression ‘charge’ includes mortgage; 
(b) the expression ‘“the fixed date” means in relation to the 
charges specified in paragraphs (a) to (f), both inclusive, 
of subsection (2) of this section, the first day of July, 
nineteen hundred and eight, and in relation to the charges 
specified in paragraphs (g) to (¢), both inclusive, of the said 
subsection, the commencement of this Act. 
Duty of com- 
pany to register 
charges created 
by company. 
80.—(1) It shall be the duty of a company to send to the registrar 
of companies for registration the particulars of every charge created 
by the company and of the issues of debentures of a series, requiring 
registration under the last foregoing section, but registration of 
any such charge may be effected on the application of any person 
interested therein, 
(2) Where registration is effected 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.
	        
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