
This problem is based on registration of charges. Under the provisions of the Companies Act, a floating charge is registrable. In this case, the charge was duly registered and a certificate issued.
Although the chattels were not registered they constitute the security and the administrative receiver is entitled to the same. This is because the registration of the charge cured this defect and the charge is deemed to be valid. As was the case in Ve C. L. Nye Ltd
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