Will still have to maintain their own register of certain types of charges
From 1 October 2011 an overseas company that is registered in the UK will no longer have to register charges that it creates over UK property at Companies House.
Such an overseas company will have to maintain its own register of certain types of charges that it creates (charges over UK land or over ships, aircraft and intellectual property registered in the UK, and any floating charges over UK property) and that register, and the underlying instruments creating the charges, must be open for inspection.
These changes are made by the Overseas Companies (Execution of Documents and Registration of Charges)(Amendments)(Regulations) 2011.
Companies House has produced a short Q&A on the changes, which can be read alongside the Companies House guide to overseas companies registered in the UK.
Companies House will continue to accept statements of satisfaction against any charges created prior to 1 October 2011.
An “overseas company” is defined in section 1044 of the Companies Act 2006 as “a company incorporated outside the UK”. An overseas company only needs to be registered in the UK if it has some degree of physical presence in the UK (such as a place of business or branch) through which it carries on business.
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