793. Registration of enforcement of security

(1) Subsection (2) applies where a person—
(a) obtains an order for the appointment of a receiver or manager of a company's property or undertaking, or
(b) appoints such a receiver or manager under powers contained in an instrument.
(2) The person must, within 14 days of the order or of the appointment under those powers—
(a) give notice to the Registrar of that fact, and
(b) if the order was obtained, or the appointment made, by virtue of a registered charge held by the person give the Registrar a notice containing—
(i) in the case of a charge created before the effective date, the information specified in subsection (4),
(ii) in the case of a charge created on or after the effective date, the unique reference code allocated to the charge.
(3) Where a person appointed receiver or manager of a company's property or undertaking under powers contained in an instrument ceases to act as such a receiver or manager, the person must, on so ceasing—
(a) give notice to the Registrar of that fact, and
(b) give the Registrar a notice containing—
(i) in the case of a charge created before the effective date, the information specified in subsection (4), or
(ii) in the case of a charge created on or after the effective date, the unique reference code allocated to the charge.
(4) The information referred to in subsections (2)(b)(i) and (3)(b)(i) is—
(a) the date of the creation of the charge,
(b) a description of the instrument (if any) creating or evidencing the charge,
(c) short particulars of the property or undertaking charged.
(5) The Registrar must include in the register—
(a) a fact of which notice is given under subsection (2)(a), and
(b) a fact of which notice is given under subsection (3)(a).
(6) A person who makes default in complying with the requirements of subsection (2) of this section commits a contravention of these Regulations.
(7) A person who commits a contravention referred to in subsection (6) is liable to a fine of up to level 4.
(8) A person who makes default in complying with the requirements of subsection (3) of this section commits a contravention of these Regulations.
(9) A person who commits a contravention referred to in subsection (8) is liable to a level 2 fine.
(10) This section applies only to a receiver or manager appointed—
(a) by a Court in the Abu Dhabi Global Market, or
(b) under an instrument governed by the law of the Abu Dhabi Global Market.