Flashcards in 363. Duty of company to register pre-existing charges Deck (1)
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1
Q
- Duty of company to register pre-existing charges
A
General overview
[363.01] Section 363 treats a foreign corporate entity as a local company in respect of the registration of charges. Under s 363, a foreign corporate entity seeking registration as a company limited by shares under s 359 has a duty to register with the registrar any pre-existing charges that ought to be registered pursuant to Division 8 of Part IV of the Act. Registration of charges is effected by lodging with the registrar a statement containing the prescribed particulars of the charges, and must be done within 30 days of the completion of re-domiciliation.