Type: Client Alerts
On 6 April 2013 new legislation governing registration of security at Companies House came into force. The new rules apply to any charges created on or after 6 April 2013. The main changes to the registration regime are:
- The security document itself will be available to be downloaded from the public register. Only certain specified information in that document can be redacted.
- If another document contains relevant information to the security then that document must be made available for inspection at the company’s registered office.
- Registration can be made electronically and certified copies must be submitted instead of originals.
- All charges are now registerable other than those specifically excluded in the legislation.
- There is a new suite of forms to be used which are available on Companies House.
- The criminal sanction for failure to register security has been removed but registration within 21 days is still required for enforceability against a liquidator.