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The company need not inform Companies House that a charge has been fully or partly satisfied. However, it is obviously in the company's own interests that potential investors and lenders know that all or part of the debt has been paid off. A director or secretary of the company may therefore make a statutory declaration on Form MG02 before a Commissioner for Oaths or equivalent, and send it to Companies House.
Registered company number and full company name are required first, followed by the date and description of the charge and the registration date.
The name and addresses of charge(s) or trustee(s) for the debenture
holders are also required and short particulars of the property. And a
tick box to clarify whether the debt has been satisfied in full or in
part.
Go to Edit | Mortgages and Charges, highlight the relevant mortgage or charge and click Edit.
Enter a date for the satisfaction of the mortgage or charge. Having
saved this information the option of a full or part satisfaction is given,
together with a selection for the person signing the form.
Click Yes when asked to Log the particulars of this event.
Once activated, the form can be previewed in Reports | Company Forms, highlight form MG02 click Print Form and OK.
To display a form with basic details go to Reports | Forms with Basic Details | Form MG02- Statement of satisfaction in full or in part of mortgage or charge. The form opens in Microsoft Word showing the basic details.
To display a blank form, go to Reports | Blank Forms | Form MG02- Statement of satisfaction in full or in part of mortgage or charge. This opens the completely blank form in Microsoft Word.
Click on any area of the form for additional information:
