Division A: Registration of Charges
Charges
(1) Subject to this Division, where a charge to which this section applies is created by a company, the company shall, within 28 days after the registration of the charge with the Registrar of Lands or the Registrar of Deeds and Mortgages, lodge with the Registrar a statement of the charge and —
(a) any instrument by which the charge is created or evidenced; or
(b) a copy of the instrument together with a statutory declaration verifying the execution of the charge and also verifying the copy as being a true copy of the instrument.
(Substituted by Act 13 of 2015)
(2) Where subsection (1) is not complied with in relation to the charge referred to, the charge shall be void with respect to any security interest it purported to create.
(3) Subsections (1) and (2) do not affect any contract or obligation for repayment of the money secured by a charge that is void under that subsection; and the money received under the charge becomes immediately payable.
(4) This section applies to all charges created by a company except—
(a) any pledge of, or possessory lien on, goods; and
(b) any charge by way of pledge, deposit or trust receipt, or bills of lading, dock warrants or other documents of title to goods, or of bills of exchange, promissory notes, or other negotiable securities for money.