Borrowers and Lenders Act, 2008 (Act 773)

Section 25 (1) A borrower or a person interested in a charge shall register a certified copy of a charge or collateral created by the borrower in favour of a lender with the Collateral Registry within twenty-eight days after the date of the creation of the collateral or charge.(2) Where a charge is created by a company, the requirement to register charges with the Collateral Registry under this section shall be in addition to the requirement under section 107 of the Companies Act, 1963 (Act 179) to register charges with the Registrar of Companies.(3) A charge which is not registered in accordance with subsec¬tion (1) is of no effect as security for a borrower's obligations for repay¬ment of the money secured and the money secured shall immediately become payable despite any provision to the contrary in any contract.

Procedures to Follow

Not Avaiable

Responsible Institution

Bank of Ghana

Accra Central

Relevant Forms to Download

Not Available

Fees / Charges

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