REGISTRATION OF CHARGES
A CHARGE MEANS AN INTEREST OR RIGHT WHICH A LENDER OR
CREDITOR OBTAINS IN A PROPERTY OF A COMPANY BY WAY OF
SECURITY THAT A COMPANY WILL PAY BACK THE DEBT
When a charge is created, it has to be registered with the Registrar of
Companies.
Registration of Charges
The forms that need to be lodged with the Registrar of Companies under section
108 of the Companies Act 1965 are:
• Form 34;
• Form 35; and
• Form 36.
(i) Form 34 – Sections 108 and 110 (Statement of
Particulars to be lodged with a Charge)
• Needs to be lodged within 30 days after the date of
creation/acquisition/property being charged.
• A charge that is lodged after 30 days from the date of
acquisition/creation of the charge cannot be registered
unless accompanied by a Court Order for extension of time.
• Fees for registration of charges (Form 34) is RM300.00.
• Fees for the Court Order is RM50.00.
Documents that are in order will be registered and a Certificate of Charge (Form
40) will be issued within 5 days.
(ii) Form 35 – Section 108 (5)(6)(7) (Statement Containing
Particulars of a Series of Debentures)
• Needs to be lodged within 30 days after the date of
execution of the legal documents (instrument containing the
charge).
• Registration of a series of debentures lodged after 30 days
from the date of execution of the legal documents cannot be
registered unless accompanied by a Court Order for
extension of time.
• Fees for registration of Form 35 is RM300.00.
• Fees for the Court Order is RM50.00.
• Documents that are in order will be registered and the
Certificate of Charge (Form 40) will be issued.
(iii) Form 36 (Particulars When More Than One Issue is
made of Debentures in a series)
• Needs to be lodged within 30 days after the date of each
issue.
• Registration of a charge that exceeds 30 days from the date
of each issue cannot be registered unless accompanied by a
Court Order for extension of time.
• Fees for registration of Form 36 is RM300.00.
• Fees for the Court Order is RM50.00.
• Documents that are in order will be registered and the
Certificate of Charge (Form 40) will be issued.
RELEASE OF CHARGES
(Section 113 of the Companies Act 1965)
When the debt for which the charge was created has been paid or satisfied in
whole or in part, the company needs to lodge certain forms to obtain a certificate
of satisfaction of charges. The forms that need to be lodged to release property
or undertaking from charge are:
Forms 41, 42B and 43
- To release undertaking charged in part or in whole.
Forms 43, 43B and 43
- To release property charged in part or in whole.
Both sets of forms above need to be lodged within 14 days from the date of
release of charges.
- Registration fees is RM50.00.
- Late – fees for late lodgement needs to be included.
Documents that are in order will be registered and the Certificate for Release of
Charges (Form 42A) will be issued within 5 days.
REGISTRATION OF ASSIGNMENT OF CHARGE
Form 40A – Section 112A of the Companies Act 1965
• Needs to be lodged within 30 days after the date of change.
• No registration fees.
• Late – fees for late lodgement needs to be included.
Details of the change in owner of the charge are updated in the computer.
REGISTRATION OF VARIATION IN TERMS OF CHARGE
Form 40B (variation in the terms of charge)
• Needs to be lodged within 30 days from the date of variation in the
terms of charge.
• No registration fees.
• Late – fees for late lodgement needs to be included.
Details of the variation in the terms of charge are updated in the computer.
REGISTRATION OF A COMPANY IN RECEIVERSHIP
Forms that need to be lodged are:
(i) Form 59 – Section 186 (Notification of appointment of receiver)
• Needs to be lodged within 7 days from the date of appointment.
• No registration fees.
• Late – fees for late lodgement needs to be included.
Details of the appointment are updated in the computer.
(ii) Form 60 – Section 186 (Notice of receiver or manager ceasing to act)
• Needs to be lodged within 7 days after the date of cessation.
• No registration fees.
• Late – fees for late lodgement needs to be included.
Form 61 – Sections 188 and 189 (Statement of Affairs)
• Needs to be lodged within 1 month after the receipt of the
abovementioned statement.
• No registration fees.
• Late – fees for late lodgement needs to be included.
Details of the receipt of the statement are updated in the computer.
Form 62 – Section 189(2) (Affidavit verifying the Statement of Affairs)
• Lodged together with Form 61.
Form 63 – Section 190(1) (Account of receipts and payments by receiver
or manager)
• Needs to be lodged within 1 month after the expiry of the 6-
month period from the date of appointment of the
Receiver/Manager, and after each subsequent 6 months
after he has ceased to act.
• No registration fees.
• Late – fees for late lodgement needs to be included.
• Receipt of documents is keyed into the computer.
