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Securities Register
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| Document Type: | Microsoft Word |
| Build Time: | 3 Min |
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This is a pro forma Securities Register and it includes provision for mortgages, charges and guarantees.
A Register of charges must be kept in order to comply with Section 271 of the Corporations Act 2001 (Cth).
Under this Section of the Corporations Act 2001 (Cth) it is mandatory that:
- the particulars of any charge be entered in the Register as soon as practicable (Section 271(2)); and
- a copy of each and every document relating to the charge must be kept with the Register (Section 271(1)).
If a charge or mortgage is given in relation to an item of Intellectual Property (eg. design, patent or trade mark) it is prudent to record that security on the relevant Register at IP Australia as recordal may impact upon priority of interest (eg. see Section 189 of the Patents Act 1990 (Cth) regarding dealings with a patentee).
While priority disputes in relation to charges on ASIC's Register of Company Charges are determined in accordance with Sections 280-282 of the Corporations Act 2001 (Cth), Section 279(5) of that Act provides that priorities under Intellectual Property legislation prevail.
