Assignment on Company Law (pdf)
Added on -2021-02-21
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Company Law
Table of ContentsPATCH 2: Drafting Exercise ..........................................................................................................3PATCH 3: MEMORANDUM OF ADVICE .................................................................................7REFERENCES..............................................................................................................................14
PATCH 2: Drafting Exercise TO: S. JONES, PRINCIPALFROM: A. TRAINEEDEPT: CORPORATE DATE: Client File Reference: JH15/01-19Presenting responses required for questions a)To validly register a charge, there are other steps and documentation that mustaccompany the form you have identified and filled in. What are these?COMPANIES ACT 2006: As per the provision of companies act 2006, The charges created against the asset of acompany as a secure credited are requisite to get enrolled in the companies house (Macpherson,2019). Since 2013 the registrar on charge has been made voluntary but the requirement by thesecure creditors for registration is necessary as a failure by the company in repayment will notrender the charge void. As per section 859(A) of the companies act 2006 form MR01 is requiredto be filled electronically to the companies house. It can be filled in by either the company JollyHoliday Ltd or the bank Natwest Plc from which loan is taken. To create a charge over the landin the cosgrove against the secure creditor Natwest the registration procedure is as follows:To complete the form MR01 with all the disclosure such as date of creation of chargehere it is 2nd Jan 2019, defining the name of person or institutes who have created chargehere bank Natwest, a description of the charge and nature of he charge.
Attaching a certified copy of the deed or the papers which are written down to make thecharge more evidential the documents are required to possess sign by the bank who is thelender. Paying out the registration fees for registration of the charges.b)How much will Jolly Holidays Ltd be charged for filing the documents required?Form 395The registration application for the entitlement of the charge over the land and as well astractor it is requited to give a fees of £23 to the companies house physically through papers(Haldrup, 2017). To file an application to the company house digitally the Jolly Holiday Ltdwill need to pay a fees of £15 for getting the charge registered.c)Apart from Companies House, would it be necessary to keep a record of the chargeelsewhere?Section 895 of Companions act 2006The information of the charge created is held by companies house with all the detailsover the creation of charge. The information is not required to be kept any where else apart fromthe companies house along with the lender awe well as the company who has taken loan. Theinformation related with the creation of charge is kept with the Jolly Holiday Ltd and NatwestPlc. The information send to the companies houses is appears on the public records and thisincludes all the information on the documented transcript of the paper.d)When is the latest date for the documents to be filed with Companies House?Section 895 of Companions act 2006For the present case the Jolly Holiday Ltd or Natweat Plc charge is created on 2ndJanuary 2019 so 21 days start from 3rd January 2019 and last till 23rd January 2019 (Spiro, 2015).here it can be stated that application for registration of charge over the the land in cosgrve as wellas the Deere tractor (9560 model) must be filed with in 3rd -23rd January 2019.e)What will be the consequence of failing to register by the latest date you haveidentified?
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