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681. Registration of allotment of debentures

Past version: effective from 14/06/2015 - 13/06/2015
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(1) A company must register an allotment of debentures as soon as practicable and in any event within two months after the date of the allotment.
(2) If a company fails to comply with this section, a contravention of these Regulations is committed by—
(a) the company, and
(b) every officer of the company who is in default.
(3) A person who commits a contravention of this section is liable to a level 2 fine.
(4) For the duties of the company as to the issue of the debentures, or certificates of debenture stock, see Part 20 (certification and transfer of securities)