No. 3
Charges over
assets
Electronic and Postal Communications
2010
99
158.(1) The Authority may cause a charge to be created
in its favor over the assets of a licensee who has defaulted payment
of fees or royalty on or before the date the fee or royalty is due.
(2) The Authority shall create a charge referred to in subsection (1) by serving a licensee with a notice in writing specifying
the licensee, the assets charged, the extent of the charge as provided
for in sub-section (3), the licensee to which the charge relates and
details regarding the Authority’s power of enforcement under
section 116.
(3) The assets of a debtor licensee charged under subsection (2) are charged to the extent of the fee or royalty payable,
interest accruing with respect to that fee or royalty and any costs of
charge and sale.
(4) A charge created under sub-section (2) shall not have
effect until (a) where interest in land or buildings is charged, the
Authority files an application to register the charge
under sub-section (6); and
(b) in any other case, the notice is served on the debtor
licensee under sub-section (2).
(5) A charge created under sub-section (2) shall be
released when the debtor licensee pays to the Authority in full the
amounts referred to in sub-section (3) that are secured by the
charge.
(6) Where the Authority creates a charge over an interest
in land or buildings under sub-section (2), the Registrar of Titles or
otherwise referred to as the Registrar shall, without fee, register the
charge on the title of the interesting land or buildings.
(7) Where a charge over an interest in land or buildings is
released under sub-section (5), the Registrar shall, without fee,
remove the entry of the charge from the title of the interest in land
or buildings within thirty days of the release.