Q1mcq
See model answer βA director of a company lends Β£100,000 to the company and takes a fixed charge over the company's machinery to secure the loan. The company subsequently goes into insolvent liquidation. The fixed charge was not registered at Companies House within 21 days. What is the effect of the failure to register?
A) The charge is void against the liquidator and other creditors, but the underlying debt remains valid and immediately repayable
B) Both the charge and the underlying debt are void
C) The charge remains valid because it was created by a director
D) The charge is only void if another creditor specifically challenges it