BRITISH VIRGIN ISLANDS - Mossack Fonseca & Co.

liable on summary conviction to a fine of $5,000.
94
163. (1) Where a company creates a relevant charge, an application to the
Registrar to register the charge may be made by
(a) the company, or a person authorised to act on its behalf; or
(b) the chargee, or a person authorised to act on his behalf.
(2) An application under subsection (1) is made by filing an application,
specifying the particulars of the charge, in the approved form.
(3) The Registrar shall keep, with respect to each company, a Register of
Registered Charges containing such information as may be prescribed.
(4) If he is satisfied that the requirements of this Part as to registration
have been complied with, upon receipt of an application under
subsection (2), the Registrar shall forthwith
(a) register the charge in the Register of Registered Charges kept
by him for that company; and
(b) issue a certificate of registration of the charge and send a copy
to the company and to the chargee.
(5) The Registrar shall state in the Register of Registered Charges and on
the certificate of registration the date and time on which a charge was
registered.
(6) A certificate issued under subsection (4) is conclusive proof that the
requirements of this Part as to registration have been complied with
and that the charge referred to in the certificate was registered on the
date and time stated in the certificate.
164. (1) Where there is a variation in the terms of a charge registered under
section 163, application for the variation to be registered may be made by
(a) the company, or a person authorised to act on its behalf; or
(b) the chargee, or a person authorised to act on his behalf.
(2) An application under subsection (1) is made by filing an application in
the approved form.
(3) Upon receipt of an application complying with subsection (2), the
Registrar shall forthwith
AE/ET/Pub./bg/03.2007
Registration
of charges.
Variation of
registered
charge.