Compantie. [Ch. 31. No. 1.

Provided that the deposit of any debentures as security
for any debt of the company shall not for the purposes of
this subsection be treated as the issue of the debentures at
a discount.

(9) In this Part of this Ordinance the expression
charge ”’ includes mortgage.

80. (1) It shall be the duty of a company to send to the
Registrar for registration the particulars of every charge
created by the company and of the issues of debentures of a
series, requiring registration under the last foregoing
section, but registration of any such charge may be effected
on the application of any person interested therein.

(2) Where registration is effected on the application
of some person other than the company, that person shall
be entitled to recover from the company the amount of any
{ees properly paid by him to the Registrar on the registra-
tion.

(3) If any company makes default in sending to the
Kegistrar for registration the particulars of any charge
created by the company, or of the issues of debentures of a
series, requiring registration as aforesaid, then, unless the
registration has been effected on the application of some
other person, the company and every cirector, manager,
secretary or other person, who is knowingly a party to the
default shall be liable to a fine of two hundred and fifty
dollars for every day during which the default continues.

81. (1) Where after the commencement of this Ordinance
a company registered in the Colony acquires any property
which is subject to a charge of any such kind as would, if it
had been created by the company after the acquisition of
the property, have been required to be registered under this
Part of this Ordinance, the company shall cause the pres-
cribed particulars of the charge, together with a copy
(certified in the prescribed manner to be a correct copy)
of the instrument, if any, by which the charge was created
or is evidenced, to be delivered to the Registrar for regis-
tration in manner required by this Ordinance within
twenty-one days after the date on which the acquisition
is completed:

T.—IV. 25

33

Duty of
company to
register
charges
created by
company.

Duty of
company to
tegister
charges
existing on
property
acquired,