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Charge

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › Charge

  • This topic has 1 reply, 2 voices, and was last updated 8 years ago by AvatarMikeLittle.
Viewing 2 posts - 1 through 2 (of 2 total)
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  • October 19, 2017 at 11:07 pm #412534
    Avatarhumai
    Participant
    • Topics: 757
    • Replies: 248
    • ☆☆☆☆☆

    Hello

    If suppose a fixed charge was created on an asset on 1 june and it was registered on 12 june, and another fixed charge was created on the same asset on 5 june and it was registered on 10 june, which 1 has priority?

    October 20, 2017 at 7:03 am #412545
    AvatarMikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23368
    • ☆☆☆☆☆

    I’ve answered this recently! It USED to be the case that the charge with priority was the one that was first registered

    However, relatively recently, the priorities have changed and the one that now ranks first is the one that was created first

    In the above scenario, that would be the one created on 1 June

    OK?

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