140. Charges, etc., created before 29th December 1967

Question 1

140. Charges, etc., created before 29th December 1967

Answer 1

General overview
[140.01] The effect of s 140 is to apply Division 8 of Part IV of the Act retrospectively to charges created before December 29, 1967 that were not registered under any repealed written laws. In other words, companies that created such charges should immediately comply with the registration requirements under s 131 to preserve their validity against the liquidator and any creditor of the company. It is likely that the company would have to apply to court for an extension of time to register under s 137.