132. Duty to register charges Flashcards
1
Q
- Duty to register charges
A
General overview
[132.01] This section provides that it is the duty of the company to register the charge. In addition, “any person interested in the documents” may also register the charge.
2
Q
Who may register the charge
A
[132.02] The registration of the charge may be effected by the company or any person interested in the documents which would include the chargee. The Report of the Steering Committee for Review of the Companies Act, April 2011, paras 25–28 recommended the registration of charges by other business entities such as a business trust or real estate investment trust but Act No 36 of 2014 did not accept the recommendation.
