(This note is not part of the Regulations)

These Regulations are made under section 894 of the Companies Act 2006 (c.46) ("the Act"). They repeal and replace the provisions of Chapters 1 and 2 of Part 25 of the Act, which provides a scheme for the registration of charges created by companies.

Regulation 3 repeals the provisions of Chapter 1 (companies registered in England and Wales and Northern Ireland) and Chapter 2 (companies registered in Scotland) and regulation 2 gives effect to Schedule 1 which creates a new Chapter A1 in Part 25. Chapter A1 sets out a single scheme for registration of company charges which applies to any company registered in the United Kingdom. It replaces the repealed Chapters 1 and 2.

Regulation 4 revokes the Companies (Particulars of Company charges) Regulations 2008 (S.I. 2008/2996).

Regulation 5 gives effect to Schedule 2 which contains consequential amendments.

Regulation 6 provides for application and makes transitional provision.

Schedule 1 sets out the new Chapter A1 of Part 25 of the Act containing sections 859A to 859Q. It provides for a single scheme for the registration of company charges applicable to all UK registered companies irrespective of the place of incorporation of the company within the UK.