Wakilii

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

High Court · [2009] UGHC 1 Application Granted AI-generated summary ↓ Download Pin to watchlist Add to matter
Jurisdiction
Uganda
Case Type
Ex parte application to extend time for registration of a charge under the Companies Act
Decision
Extension granted for registration of charge within 42 days from date of ruling

Observed later treatment

No later-treatment classification is recorded for this judgment.

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AI-generated summary. This summary was generated by AI from the full text of the judgment. It may contain errors or omissions—always read the source judgment before relying on it.

Holding

The High Court granted an ex parte application by Standard Chartered Bank to extend time for registering a mortgage charge executed on 23 September 2008. The court exercised its discretion under section 102 of the Companies Act, finding the omission to register was innocent inadvertence and extension would not prejudice shareholders or creditors. The charge was to be registered within 42 days from the date of the ruling.

Outcome

Extension granted for registration of charge within 42 days from date of ruling

Facts

Standard Chartered Bank Uganda Limited executed a mortgage on 23 September 2008. The mortgage was registered in the Land Registry on 17 October 2008 but was never registered with the Registrar of Companies within the 42-day statutory period prescribed by section 96 of the Companies Act. The bank applied ex parte to extend the time for registration under section 102 of the Companies Act. The affidavit in support indicated that the failure to register was inadvertent and that extension would not prejudice the company's shareholders, creditors, or the bank's creditors.

Issues

  1. Whether the court should exercise its discretion to extend time for registration of a charge beyond the 42-day statutory period.

Orders

  • Application granted.
  • The charge in question shall be registered within 42 days from today.
  • No order as to costs.

Rules and key headnotes

Company Law — Charges — Extension of Time for Registration — Discretion of Court
Under section 102 of the Companies Act, the court has power to extend the time for registration of charges on such terms and conditions as the court may prescribe.
Company Law — Charges — Extension of Time for Registration — Factors for Exercise of Discretion
The court will grant an extension of time for registration of a charge where the omission was an innocent inadvertence and the extension will not prejudice the company's shareholders or creditors.

Legislation cited (2)

  • Companies Act Cap.110 s.96
  • Companies Act Cap.110 s.102

Full judgment

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The original judgment as reported. Read the original PDF before relying on any passage.

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
Source: this page presents Wakilii’s issue analysis and metadata for a publicly reported Ugandan judgment. Any AI-generated summary is marked as such. Judgment text is sourced from the Uganda Legal Information Institute (ulii.org). Wakilii is not affiliated with ULII.