CS Executive · Company Law and Practice · Charges
Which of the following correctly distinguishes the register kept by the Registrar under section 81 from the register kept by the company under section 85?
The Registrar's register under section 81 is open to any person on payment of prescribed fees for each inspection. The company's own register under section 85 is open free to members and creditors, with other persons paying prescribed fees.
- AThe Registrar's register is open to inspection by any person on payment of prescribed fees, while the company's register is free to members and creditorsCorrect
- BBoth registers are open free of charge to members and creditors only
- CThe Registrar's register contains only floating charges, while the company's contains all charges
- DThe Registrar's register is open only to creditors, while the company's is open to any person free
Explanation
Section 81(2) makes the Registrar's register of registered charges open to inspection by any person on payment of prescribed fees for each inspection. Section 85(2) gives members and creditors free inspection of the company's own register, while others pay fees. The other options misstate who may inspect or what the registers hold.
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