791. Consequence Of Failure To Deliver Charges
Past version: effective from 29/04/2020 - 28/04/2020
To view other versions open the versions tab on the right
(1) This section applies if–
(a) a company creates a charge to which section 784 or 785 applies, and
(b) the documents required by section 784 or (as the case may be) 785 are not delivered to the Registrar by the company or another person interested in the charge before the end of the relevant period allowed for delivery.
(2) “The relevant period allowed for delivery” is–
(a) the period allowed for delivery under the section in question, or
(b) if an order under section 789(3) has been made, the period allowed by the order.
(3) Where this section applies, the charge is void (so far as any security on the company’s property or undertaking is conferred by it) against–
(a) a liquidator of the company,
(b) an administrator of the company, and
(c) a creditor of the company.
(4) Subsection (3) is without prejudice to any contract or obligation for repayment of the money secured by the charge; and when a charge becomes void under this section, the money secured by it immediately becomes payable.