Section 113 - Existing charges

(1) Where, at the date of commencement of this Act, 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 that commencement then, unless the charge has been discharged or the property has ceased to be held by the company before the expiration of six months from the date of that commencement, the company shall, within that time, deliver particulars of the charge as prescribed by section 110 to the Registrar for registration together with the document, by which the charge was created or a copy of that document certified as required by that section.

(2) An existing company shall before the expiration of six months from the commencement of this Act, deliver to the Registrar for registration a statutory declaration made by a director and the Company Secretary stating whether or not there are any charges on the property of the company of which particulars require to be registered under subsection (1) and confirming that particulars of those charges have been duly delivered to the Registrar for registration.

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