COMPANIES ACT - 1963 (ACT 179)

    Section - 110 - Existing Charges

    (1) Where, at the date of commencement of this Code, a company has property on which there is a charge particulars of which would require registration if it had been created by the company after the date of such commencement then, unless the charge has been discharged or the property has ceased to be held by the company prior to the expiration of six months from the date of such commencement, the company shall within that time cause particulars of the charge as prescribed by section 107 of this Code to be delivered to the Registrar for registration together with the document, if any, by which the charge was created or a copy thereof, certified as required by that section.

    (2) Every existing company shall, prior to the expiration of six months from the commencement of this Code, deliver to the Registrar for registration a statutory declaration made by a director and the secretary of the company stating whether or not there are any charges on the company's property of which particulars require to be registered under this section and confirming that particulars of any such charges have been duly delivered to the Registrar for registration.

    (3) In the event of default in complying with subsection (2) of this section the company and every officer of the company who is in default shall be liable to a fine not exceeding five pounds for every day during which the default continues.

    (4) Failure to comply with this section shall not affect the validity of the charge.