791. Consequence Of Failure To Deliver Charges
(1) This section applies if–
(2) “The relevant period allowed for delivery” is–
(a) the period allowed for delivery under the section in question, or
(b) if an order under section 789(3) has been made, the period allowed by the order.
(3) Where this section applies, the charge is void (so far as any security on the company’s property or undertaking is conferred by it) against–
(a) a liquidator of the company,
(b) an administrator of the company, and
(c) a creditor of the company.
(4) Subsection (3) is without prejudice to any contract or obligation for repayment of the money secured by the charge; and when a charge becomes void under this section, the money secured by it immediately becomes payable.