Companies House refers the property presented by a limited company as the security for a loan arrangement as a charge or a mortgage. The security must be registered with Companies House within 21 days from the date of the security was created. Delay in registration will lead to more expensive corrective actions for the company.
The registration of the charge normally is actioned by the bank or the lender's agent. The registration involved completing the correct Companies House forms for registering a charge and providing the certified copy of the legal documents evidencing the security for submission to Companies House.
There are specific forms for registering charges and mortgages created before 6 April forms for Scottish company.
Charges must be registered with Companies House
Scottish companies must register the following charges with Companies House Scotland within statutory time limit.
- A charge on land or any interest in such land, other than a charge for any rent or other periodical sum payable in respect of the land
- A security over intangible property such as goodwill, a patent or a licence under a patent, a trademark, a copyright or a licence under a copyright, a registered design or a licence in respect of such a design, a design right or a licence under a design right, the book debts (whether book debts of the company or assigned to it), and uncalled share capital of the company or calls made but not paid
- a security over a ship or aircraft or any share in a ship
- a floating and fixed charge.
The requirements for registration of charges for companies incorporated in England and Wales and Northern Ireland slightly different.
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