Companies Act 2014 section 409

Registration of charges created by companies

Section 409 sets out the requirements for registering charges created by companies, including two alternative registration procedures, and the consequences of failing to register properly.

• Every charge created by a company must be registered using either the one-stage procedure (filing particulars within 21 days of creation) or the two-stage procedure (filing a notice of intent followed by confirmation of creation within 21 days), or the charge will be void against the liquidator and creditors.
• If the particulars filed with the Registrar omit information about one or more properties covered by the charge, the charge is rendered void only in respect of those particular properties — it remains valid for any properties whose details were properly included.
• A charge becoming void does not affect the underlying obligation to repay the money it secured; instead, the secured money becomes immediately payable once the charge is declared void.
• The Registrar will not accept deeds or supplemental documents when registering a charge and has no duty or power to examine such documents.