COMPANIES ACT - 1963 (ACT 179)

    Section - 116 - Registration of Enforcement of Security

    (1) If any person obtains an order for the appointment of a receiver of any of the property of a company, or appoints such a receiver or enters into possession of such property under any powers contained in any charge, notice of the fact in the prescribed form shall, within ten days from the date of the order, appointment or entry into possession, be given to the Registrar who shall enter the fact in the register of the particulars of charges relating to such company.

    (2) If default is made in giving the notice required under subsection (1) of this section the receiver, the person entering into possession, the company, and any officer of the company who is in default shall each be liable to a fine not exceeding five pounds for everyday during which the default continues.

    (3) Where any person appointed receiver of the property of the company ceases to act as such receiver or where any person having entered into possession goes out of possession he shall, within ten days of so ceasing to act or to remain in possession, give notice to that effect in the prescribed form to the Registrar who shall enter the notice in the register of particulars of charges.

    (4) If any person makes default in complying with the requirements of subsection (3) of this section he shall be liable to a fine not exceeding five pounds for everyday during which the default continues.

    (5) The Registrar shall cause a copy of any notice given under this section to be published in the Gazette.