Knowledgebase

The main criteria of review of the form HE24E are:

• the company number must be similar to the company name;
• charge description: completed in summary the type of charge (e.g. floating or fix charge);
• the agreement date (registration date of charge) is prior to 21 days from the date the form is notified to the Department. In case it is later than 21 days, a Court Order must be submitted for extension of period accompanied by the corresponding fee of twenty euros (€20,00). In case where the agreement/document was signed in the Republic of Cyprus an extension of period for 42 days is given if one party (usually the bank) is from abroad, Property acquisition date: this field is completed when the property was acquired at a later stage than the agreement date or the amendment date of the charge. The agreement date, however, remains completed;
• description of documents for charge registration: complete the title of the document/agreement notified, agreement and debenture charge;
• amount secured by the charge must be completed and be similar to the secured amount written on the document/agreement;
• he field description of property charged, a summary of the property must be written, which was charged for loan purposes and is written in the agreement;
• charge beneficiaries: complet full name of individual or organisation/company and full address details. In case of more than one beneficiary, they must be written in the agreement;
• the form must be signed by a director or secretary or the lawyer of the mortgage creditor.

Charge Document/Agreement

The document/agreement must be a true copy signed by a director or secretary or the lawyer of the mortgage creditor.

The document must contains the following:

• the agreement date;
• the company;
• the beneficiary;
• the secured amount;
• a paragraph referring the charge;
• signatures of all parties.

Most common reasons for rejection of the form by the examiner:

• the form submitted is not the statutory form. The statutory forms are available on the webpage and at the offices of the Department;
• failure to complete/submit the above details.

For further information regarding the relevant procedure, you may refer to the page Registering a Charge.