Changes to the requirement for companies to keep a register of charges, to be introduced as part of the new regime for the registration of charges.
A new regime for the registration of company charges will come into force on 6 April 2013 on the implementation of The Companies Act 2006 (Amendment of Part 25) Regulations 2013 (SI 2013/600) which amend the existing Companies Act 2006 provisions. The main objectives of the new regime are:
- to introduce a single scheme for the registration of charges that applies to any company registered anywhere in the United Kingdom (‘UK’)1, irrespective of the location of the asset charged or the law used to create the security; and
- to provide for electronic filing of charges at Companies House, with the aim of reducing costs, in tandem with the existing regime for hard copy filing.
As part of the new system, Companies House will be introducing new forms and procedures for the registration of charges.