New Regulations
- New regulations come into force on 6 April 2013. They change the way in which security created by LLPs and UK Companies on and after 6 April 2013 is to be registered at Companies House.
- Basically all security is registrable
- The previous regime for registering charges at Companies House will continue to apply to charges created before 6 April 2013.
- New Registration Process
The following has to be delivered to Companies House within 21 days of the creation of a charge (whether by means of a document or orally):
- a new "MR" form duly completed;
- a certified copy of the charge, which will appear on the public register;
- the fee (of £13 for a paper filing or £10 for an electronic filing).
The Certified Copy of the Charge
Previously the text of the charge did not appear on the public
register. Now the certified copy will, but it does not need to
include:
- personal information relating to an individual (other than a name);
- number or other identifier of a bank or securities account of a company or individual; or
- a signature
Failure to Register
If the required documents and the fee are not delivered to
Companies House within the 21 day period then, as before, the
charge is void against:
- a liquidator;
- an administrator; or
- a creditor.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.