Understanding the register of charges in Hong Kong
The register of charges records all security interests a Hong Kong company creates over its assets.
What Is the Register of Charges?
Every Hong Kong company must keep a statutory register of charges under the Companies Ordinance (Cap. 622). This book records all secured debts the company creates, including mortgages, debentures and other security interests over its assets. For each charge, the register must state the creation date, the amount secured, the property charged and the creditor's name. Keep it at the company's registered office or another prescribed place. The company secretary is responsible for its accuracy.
Hong Kong Company Charges Register
The Companies Registry maintains the public Hong Kong company charges register. Deliver particulars of any new charge to the Registrar on Form NM1 within one month. The Registrar then makes these details available for public inspection. A charge not registered is void against a liquidator or any other creditor.
Mortgage Register Hong Kong
A company's mortgage register Hong Kong records mortgages and other charges over land or property. Mortgages are a specific type of charge secured against real estate. The company must record the instrument of charge, the mortgage date and the secured amount. The same filing rule applies: deliver particulars to the Companies Registry on Form NM1.
Company Security Register
The company security register is another name for the register of charges. It lists all security interests the company creates, such as charges over book debts, floating charges and charges on uncalled share capital. Any creditor or member may inspect this register without charge.
Register of Charges Cap 622
Part 8 of the Companies Ordinance (Cap. 622) governs the register of charges Cap 622. Section 334 requires every company to keep the register at its registered office. Section 335 obliges the company to deliver each charge's particulars to the Registrar. File Form NM2 when a charge is satisfied or the debt released. The company can obtain a certified true copy of any register entry from the Companies Registry.
Sources
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