Article 22 Electronic statement to obtain memorandum of satisfaction

Section 403 of the 1985 Act (entries of satisfaction and release: England and Wales)^f1, as in force at the date of coming into force of this Order, is amended as follows.

At the beginning of subsection (1), for the words “The registrar” substitute the words “Subject to subsection (1A), the registrar”.

Insert the following subsection after subsection (1)—

“(1A)

The registrar of companies may make any such entry as is mentioned in subsection (1) where, instead of receiving such a statutory declaration as is mentioned in that subsection, he receives a statement by a director, secretary, administrator or administrative receiver of the company which is contained in an electronic communication and that statement—

(a)

verifies the matters set out in paragraph (a) or (b) of that subsection,

(b)

contains a description of the charge,

(c)

states the date of creation of the charge and the date of its registration under this Chapter,

(d)

states the name and address of the chargee or, in the case of a debenture, trustee, and

(e)

where paragraph (b) of subsection (1) applies, contains short particulars of the property or undertaking which has been released from the charge, or which has ceased to form part of the company’s property or undertaking (as the case may be).”

Insert the following subsection after subsection (2)—

“(2A)

Any person who makes a false statement under subsection (1A) which he knows to be false or does not believe to be true is liable to imprisonment or a fine, or both.”