Companies Act 2014 section 418

Copies of instruments creating charges to be kept

Section 418 requires a company to keep copies of all instruments that create registrable charges and to store them together in one location, with rights of inspection applying and penalties for non-compliance.

• A company must retain a copy of every instrument creating a charge that requires registration, including judgment mortgage documents received by the Registrar.
• All such copies must be kept together at the same place within the company.
• The standard inspection rights set out in Sections 215 to 217 of the Act apply to these copies.
• Failure to comply with the record-keeping and storage requirements is a category 3 offence for the company and any officer in default.