FAQs  Company Charges

What is the meaning of the word "satisfied" in the category 'Statement of Satisfaction of Charge'?

Please refer to Section 136 of the Companies Act Chapter 50.

What is the meaning of the word "discharged" in the category Statement of Satisfaction of Charge?

Please refer to Section 136 of the Companies Act Chapter 50.

Please advise on the appropriate category in the situation where all monies owing have not been fully paid off under the charge, however the bank wishes to discharge the charge (and remove from the register - such that the debt becomes unsecured)

We regret to inform you that ACRA officers are not in a position to advise on matters other than registration procedures for companies/businesses and filing of Bizfile transactions. You have to determine which the appropriate option is.

My bank has issued a statement of Satisfaction of Charge. How can I remove this Charge from the register?

To release a company charge, please e-file the transaction under Local Company>Change/Update>Satisfaction of Charges. Please click this hyperlink to attachment of the Statement of Satisfaction of Registered Charge. You may engage a Professional Firm such as (Law Firm, Audit Firm or Company Secretarial Firm) to assist you on the Satisfaction of Charge.

How will I know if the Satisfaction of Charges submitted has been processed and approved, so that I can confirm that the Charge has been withdrawn / removed?

You may purchase the Business Profile from Bizfile to confirm the status of satisfaction of the Charge.

What is the meaning of the word "satisfied"?

The word satisfied means that the debt has been paid up.

What is the meaning of the word "discharged"?

The word discharged means that the chargee voluntarily "released" the property from the charge and therefore "discharged" the obligations of the company.

If my S131 charge falls within more than one listed category, would it affect the registration of the charge if the category I select does not fully describe the charge?

Any of the categories, listed in the form, can be selected . We understand that some charges may straddle more than one category. It is sufficient that the charge comes within any of the categories. However, choosing any one category does not mean that the other categories do not apply.

If my bank has submitted my 'Charge over Cash Deposits' to ACRA for processing at a later date, will this affect the 30 days' period to lodge my company charge?

Yes, this will affect the registration in view of the 30 days' period to lodge the company charge.

Is a Charge Over Cash Deposits classified as a charge on book debts of the company?

Please seek your own professional assistance on this matter as it varies according to individual company circumstances. ACRA officers are not empowered to provide advice on which section of the Companies Act will the charge falls into.

If I want to charge a fixed deposit to a bank, should I effect the transaction under 'Charge on the Book Debts' in the prescribed 'Statement Containing Particulars of Charge'?

Please seek professional assistance on this matter as it varies according to the individual company circumstances. ACRA officers are not empowered to provide advice on which section of the Companies Act will the charge fall into.

Where can I obtain Forms 33 & 34 for charge registration?

These forms have been converted to electronic forms, since the launch of Bizfile on 13 Jan 2003. Registration of Charge is done through Bizfile by Professional Firms.

If I have to re-lodge the Charge, must I have to pay S$60 again?

If the earlier Charge you submitted was rejected, we will refund the filing fee of the rejected charge. You may re-lodge the Charge with a filing fee of S$60.

If we re-lodge the charge, what is the new effective lodgment date?

The effective lodgment date will be the re-lodgment date of the new application.

If the charge is rejected, how do I get a refund?

You do not need to apply for a refund. Once the Charge is rejected, we will arrange for the refund of the filing fee.

Do I have to renew the registered charges?

There is no renewal for a charge which has been registered.

If I lodge a new charge under the statement containing the particulars of Charge, do I need to attach a copy of the instrument?

No, you are not required to attach a copy of the instrument but you should provide a short description of the properties adequately, while securing the charge.

Does ACRA keep a copy of the instrument we attached?

All documents attached with Bizfile transactions are kept in the system. However, you are not required to attach a copy of the instrument of charge.

If ACRA does not keep a copy of the instrument, how else can members of the public retrieve a copy?

To retrieve a copy of the instrument, the members of public may liaise with the company/professional firm which had lodged the said charge.

What is a charge?

A charge is a security interest over the company's property.