181 Registration of charges

(1) Where a company creates a relevant charge, an application to the
Registrar to register the charge may be made by —


(a) the company acting by its registered agent or a legal practitioner
in Seychelles authorised to act on its behalf; or

(b) a registered agent (other than the company‘s registered agent)
or a legal practitioner in Seychelles, acting on behalf of the
chargee.

(2) An application under subsection (1) is made by filing —

(a) an application, specifying the particulars of the charge referred
to in section 179(1)(a) to (e), in the approved form;

(b) the instrument, or a certified copy of the instrument, creating
the charge; and

(c) in the case of an application made by or on behalf of the
chargee, a written consent to the application signed by or on
behalf of the chargor.


(3) The Registrar shall keep, with respect to each company, a register, to be
known as the Register of Registered Charges, which shall include the
following information in relation to every relevant charge registered
under this section —

(a) if the charge is a charge created by the company, the date of its
creation or, if the charge is a charge existing on property acquired
by the company, the date on which the property was acquired;

(b) a short description of the liability secured by the charge;

(c) a short description of the property charged;

(d) the name and address of the chargee, who may be acting as a
trustee or security agent for other persons; and

(e) such other information as the Registrar deems fit.

(4) If the Registrar 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;

(b) issue a letter of registration of the charge and send it, together
with a sealed copy of the charge instrument or certified copy
instrument which was filed, to the person who filed the
application under subsection (1); and

(c) if the person who filed the application under subsection (1) was
not the registered agent of the chargor company, send a copy of
the letter of registration of the charge to the registered agent of
the chargor company.

(5) The Registrar shall state in the Register of Registered Charges and on the
letter of registration the date and time on which a charge was registered.

(6) A letter of registration 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 letter was registered on the date
and time stated in the letter.

(7) A charge registered under this section is not required to be registered in
the Register of Deeds (maintained by the Registrar of Deeds under the
Mortgage and Registration Act) for a Date Certaine pursuant toArticle
1328 of the Civil Code of Seychelles Act.