Question
What is CHG-1 charge registration and the 30-day rule?
Answer
Bottom line: A charge on company assets must be registered in Form CHG-1 within 30 days of creation.
1. The rule
File CHG-1 within 30 days; a delay up to 120 days is allowed with additional and ad valorem fees.
2. Hard stop
For charges created on or after 2 November 2018, there is no filing beyond 120 days and no condonation — the charge becomes void against the liquidator and creditors.
3. Debentures
Use Form CHG-9 for a charge relating to debentures.
Maintain your charge register with our Company Secretarial Registers (Excel).
This answer is general information based on the law as it stood when written and is not professional advice on your specific situation. Verify the current position and consult a qualified professional before acting. See our disclaimer.