Section 889

If a company creates a charge to which section 878 applies, the charge is void (so far as any security on the company's property or any part of it is conferred by the charge) against— unless that section is complied with. the liquidator of the company, an administrator of the company, and any creditor of the company Subsection (1) is without prejudice to any contract or obligation for repayment of the money secured by the charge; and when a charge becomes void under this section the money secured by it immediately becomes payable.

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Source: legislation.gov.uk · retrieved 2026-09-04