Document ID: chunk:federal_register_of_legislation:C2004A02530:body:0:p13
Version: federal_register_of_legislation:C2004A02530
Segment Type: other
Provision Reference: 
Character Range: 31183–33847

the debenture holders were a reference to the trustee for, or representative of, the holders of the prescribed interests.".

Certain charges void against liquidator or official manager
44. Section 205 of the Principal Act is amended—
    (a) by omitting from paragraph (1) (c) ", 202 or 206" and substituting "or 202";
    (b) by inserting in paragraph (1) (d) "(other than a notice under section 206)" after "in respect of the charge";
    (c) by adding at the end of paragraph (2) (b) "or";
    (d) by omitting from paragraph (2) (c) "; or";
    (e) by omitting paragraph (2) (d);
    (f) by inserting after sub-section (2) the following sub-section:
    "(2a) Where, after there has been a variation in the terms of a registrable charge on property of a company having the effect of increasing the amount of the debt or increasing the liabilities (whether present or prospective) secured by the charge—
        (a) an order is made, or a resolution is passed, for the winding up of the company; or
        (b) an official manager is appointed in respect of the company,
    the registrable charge is void as a security on that property to the extent that it secures the amount of the increase in that debt or liability unless—
        (c) a notice in respect of the variation was lodged with the Commission under section 206—
            (i) within the period of 45 days specified in sub-section 206 (2) or that period as extended by the Court under sub-section (3) of this section; or
            (ii) not later than 6 months before the commencement of the winding up or the appointment of the official manager, as the case may be; or
        (d) the period of 45 days specified in sub-section 206 (2), or that period as extended by the Court under sub-section (3) of this section, has not expired at the commencement of the winding up or at the time of the appointment of the official manager and the notice is lodged before the expiration of that period.";
    (g) by inserting in sub-section (3) ", or in respect of a variation in the terms of a charge," after "charge";
    (h) by inserting in sub-section (5) "or (2a)" after "(1)"; and
    (j) by adding at the end thereof the following sub-section:
    "(6) The onus of proving that a person purchased property in good faith and without notice of any of the matters referred to in paragraphs (5) (a), (b) and (c) is on the person asserting that the property was so purchased.".

Company to keep documents relating to charges and register of charges
45. Section 209 of the Principal Act is amended by omitting paragraph (2) (b) and substituting the following paragraph:
    "(b) a short description of the