The Department for Business, Enterprise and Regulatory Reform has published the draft Companies (Prescribed Particulars of Company Charges) Regulations. The draft regulations were expected to come into force on 1 October 2008 but this is now subject to some doubt following the Government’s announcement on 7 November delaying implementation of part 25 of the Companies Act 2006 (dealing with Company Charges) until 1 October 2009.

The draft regulations prescribe the particulars of a charge to be delivered to Companies House for registration under section 860(1) of the Companies Act 2006. The draft regulations confirm that the particulars to be registered are the same as those prescribed under the Companies Act 1985 (as set out on Companies House form 395).

The draft regulations also prescribe the particulars to be registered in relation to property acquired subject to existing charges for the purposes of section 862(1) of the Companies Act 2006. In addition to the particulars to be registered on creation of a charge, the date of the acquisition of the property subject to the charge must be provided.