Ch. 31. No. 1.] Compantes.

Registration
of enforce-
ment of
security.

Copies of
Mstruments
creating
charges to
be kept by
company.

Company's
register of
charges.

86. (1) If any person obtains an order for the appoint-
ment of a receiver or manager of the property of a company,
or appoints such a receiver or manager under any powers
contained in any instrument, he shall, within seven days
from the date of the order or of the appointment under the
said powers, give notice of the fact to the Registrar, and
the Registrar shall, on payment of the prescribed fee, enter
the fact in the register of charges.

(2) Where any person appointed receiver or manager
of the property of a company under the powers contained
In any instrument ceases to act as such receiver or manager,
he shall, on so ceasing, give the Registrar notice to that
efiect, and the Registrar shall enter the notice in the register
of charge.

(3) If any person makes default in complying with
the requirements of this section, he shall be liable to a fine
of twenty-five dollars for every day during which the
default continues.

Provistons as to company’s register of charges and as to
copies of instrianents creating charges.

87. Every company shall cause a copy of every instru-
ment ereating any charge requiring registration under this
Part of this Ordinance to be kept at the registered office
of the company:

Provided that, in the case of a series of uniform deben-
tures, a copy of one debenture of the series shall be sufficient.

88. (1) Every limited company shall keep at the registered
office of the company a register of charges and enter
therein all charges specifically afiecting property of the
company and all floating charges on the undertaking or any
property of the company, giving in each case a short
description of the property charged, the amount of the
charge, and, except in the case of securities to bearer, the
names of the persons entitled thereto.

(2) If any director, manager, or other officer of the
company knowingly and wilfully authorises or permits
the omission of any entry required to be made in pursuance
of this section, he shall be liable to a fine of two hundred and
fifty dollars.