COMPANIES ACT 1963 - SECTION 102 Registration of judgment mortgages.

102.—(1) When judgment is recovered against a company and such judgment is subsequently converted into a judgment mortgage affecting any property of the company, the judgment creditor shall cause 2 copies (certified by the Land Registry or the Registry of Deeds, as the case may be, to be correct copies) of the affidavit required for the purpose of registering the judgment as a mortgage to be delivered to the company within 21 days after the date of such registration, and the company shall within 3 days of receipt of such copies deliver one of such copies to the registrar of companies for registration in manner required by this Act. By way of further precaution, the Land Registry, or Registry of Deeds, shall as soon as may be deliver a copy of the said affidavit to the registrar of companies.

(2) If any judgment creditor makes default in complying with subsection (1) he shall be liable to a fine not exceeding £100, and if a company makes default in complying with that subsection, the company and every officer of the company who is in default shall be liable to a like penalty.

(3) This section shall not apply to any judgment mortgage created before the operative date.

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