HC Deb 26 October 1989 vol 158 c1160

399.—(1) Where a charge is created by a company and no prescribed particulars in the prescribed form are delivered for registration within the period of 21 days after the date of the charge's creation, the charge is void against—

  1. (a) an administrator or liquidator of the company, and
  2. (b) any person who for value acquires an interest in or right over property subject to the charge,
  3. where the relevant event occurs after the creation of the charge, whether before or after the end of the 21 day period.

This is subject to section 400 (later delivery of particulars).

(2) In this Part "the relevant event" means—

  1. (a) in relation to the voidness of a charge as against an administrator or liquidator, the beginning of the insolvency proceedings, and
  2. (b) in relation to the voidness of a charge as against a person acquiring an interest in or right over property subject to a charge, the acquisition of that interest or right; and references to "a relevant event" shall be construed accordingly.

(3) Where a relevant event occurs on the same day as the charge is created, it shall be presumed to have occurred after the charge is created unless the contrary is proved.