In Re: The Companies Act Cap. 110 & In Re: An Application by Standard Chartered Bank Uganda Limited to extend the time within which to register Particulars of a Charge (Misc. Companies Cause No. 49 of 2008) (Misc. Companies Cause No. 49 of 2008) [2009] UGHC 10 (27 January 2009)

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\par }{\insrsid14184588\charrsid10292119 IN THE HIGH COURT OF UGANDA AT KAMPALA \par \par }{\b\insrsid14184588\charrsid10292119 MISCELLANEOUS COMPANIES CAUSE NO 49 OF 2008 \par }{\insrsid14184588\charrsid10292119 IN THE MATTER OF }{\b\insrsid14184588\charrsid10292119 PIONEER CONSTRUCTION (U) LIMITED \par }{\insrsid14184588\charrsid10292119 AND \par IN THE MATTER OF THE COMPANIES ACT CAP.110 \par AND \par IN THE MATTER OF AN APPLICATION BY }{\b\insrsid14184588\charrsid10292119 STANDARD CHARTERED BANK \par }{\insrsid14184588\charrsid10292119 UGANDA LIMITED TO EXTEND TIME }{\b\insrsid14184588\charrsid10292119 WITHIN WHICH TO REGISTRER THE PARTICULARS OF A CHARGE}{\insrsid2192486\charrsid10292119 \par }\pard \ql \li0\ri0\sl360\slmult1\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid10292119 {\insrsid2192486\charrsid10292119 \par }{\insrsid14363260\charrsid10292119 \par }{\b\insrsid2192486\charrsid10292119 BEFORE: HON. JUSTICE J. P. M TABARO \par }{\insrsid2192486\charrsid10292119 \par \par }{\b\insrsid2192486\charrsid10292119 RULING \par }{\insrsid2192486\charrsid10292119 \par }{\insrsid14363260\charrsid10292119 \par }\pard \qj \li0\ri0\sl360\slmult1\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid10292119 {\insrsid2192486\charrsid10292119 This morning Counsel for the applicant Ms. Aisha Naiga urged an application for extension of time within which to register a mortgage executed in farm of the applicant Ms Standard Chartered (Uganda) Ltd on 23-9-2008. \par }{\insrsid14363260\charrsid10292119 \par It would appear the mortgage was registered in the Land Registry on 17-10-2008, but has never been registered with the Registrar of Companies. Regist ration of the charge is a legal requirement under S.96 of the Companies Act (Cap 110 Laws of Uganda) within 42 days from the date of its creation. \par \par Under S.102 of the Companies Act court has power to extend the time for registration charges, on such terms and conditions as Court may prescribe. \par \par From the submissions made by the applicants Counsel, Ms Naiga, and the affidavit in support it seems fairly clear that extension of the time for registration of the mortgage will not prejudice anyone \endash not the shareh olders or creditors to the company or creditors to the applicant bank. The application is granted as the mission to register the mortgage/charge, appears to have been an innocent inadvertence. The charge in question shall be registered within 42 days fr om today. \par \par The application is ex parte and hence the order for costs does not arise since the matter is not contested. \par \par }{\b\insrsid14363260\charrsid10292119 J. P. M. Tabaro \par Judge \par }{\b\insrsid12866851\charrsid10292119 \par }{\insrsid12866851\charrsid10292119 In the afternoon \par Applicant not present \par Ms B. Ntambirweki for applicant \par Ruling delivered. \par \par \par }{\b\insrsid12866851\charrsid10292119 J. P. M. Tabaro \par Judge \par 28-1-2009 \par }}