LAWS OF GOLD COAST

CHATTELS TRANSFER ORDINANCE, 1952 (NO. 51 OF 1952)

As amended

ARRANGEMENT OF SECTIONS

Section

1. Short Title and Commencement.

2. Interpretation.

3. Attornment or Agreement giving power of distress by way of Security to be instrument within meaning of Ordinance.

REGISTRATION

4. Registration of instrument to be notice.

5. Mode of Registration.

6. Limitation of time for Registration.

7. Register Books and Index to be kept.

8. Fee on Registration.

9. Time for Registration may be extended, and mistakes in Register corrected.

RENEWAL OF REGISTRATION

10. Registration to be renewed every five years.

SEARCHES AND OFFICE COPIES

11. Register Book and Instruments may be searched and viewed.

12. Office Copies may be Had.

EFFECT OF NON-REGISTRATION

13. Unregistered Instruments to be Void in Certain Cases.

14. Instrument not Registered within time limited not to affect Bona Fide Purchaser for Value without Notice.

AS TO INSTRUMENTS GENERALLY

15. Instrument to be Attested.

16. Instrument to take Effect from Registration.

17. Instrument to have Inventory of Chattels.

18. Instrument void where Grantor not Owner of Chattels.

19. Instrument subject to defeasance, etc., void in certain cases.

20. Saving.

21. Saving of laws prescribing formalities as to execution of instruments or securing rights thereunder.

FORM OF INSTRUMENTS

22. Form of Instrument by way of Security.

23. Where successive Securities are given over same chattels.

SECURITIES OVER GROWING TREES AND TIMBER

24. Security may be given over growing trees.

25. Saving rights of Landlord or Mortgagee.

26. Trees and Timber to be described.

SECURITIES OVER CROPS

27. Security may be given over crops.

28. Saving of Rights of Landlord or Mortgagee.

ASSIGNMENT OF BOOKS AND OTHER DEBTS

29. Instrument may comprise Book debts.

ENTRY OF SATISFACTION

30. Memorandum of satisfaction may be filed.

31. Effect of filing such memorandum.

32. Public trustee may sign memorandum in certain cases.

33. Supreme Court may order memorandum to be filed.

SALES

34. Sales.

SALE OF GRANTOR'S INTEREST

35. Grantor's interest in chattels may be sold in Execution of Judgment against him.

36. Not to affect interpleader process.

IMPLIED COVENANTS, ETC.

37. Covenants for title.

38. Covenants etc., implied in instrument.

39. Meaning of abbreviated expressions.

40. Covenants to be several as well as joint.

41. Covenants to bind executors.

42. Covenants may be negatived or varied.

TRANSFERS OF INSTRUMENTS.

43. Form of transfer of instrument.

44. Registration of transfers.

PENAL

45. Attempt to defraud grantee.

SCHEDULES

First Schedule

Form 1—Affidavit on Registration of Instrument

Form 2—Register Book

Form 3—Affidavit on Renewal of Registration of Instrument.

Form 4—Instrument

Form 5—Memorandum of Satisfaction.

Second Schedule—Covenants for Title.

Third Schedule—Covenants, Provisos and Powers Implied in Instrument.

Fourth Schedule—Meaning of Abbreviated Expressions.

Fifth Schedule—Transfer of Instrument.

GOLD COAST

NO. 51 OF 1952

DATE OF ASSENT

Assented to in Her Majesty's Name and on Her Majesty's behalf this 22nd day of October, 1952.

C.N. ARDEN-CLARKE

Governor.

AN ORDINANCE to make provision relating to Chattel Securities and the Transfer of Chattels.

Date of Commencement. [        ]

BE IT ENACTED by the Governor of the Gold Coast with the advice and consent of the Legislative Assembly thereof, as follows:—

Section 1—Short Title and Commencement.

This Ordinance may be cited as the Chattels Transfer Ordinance, 1952, and shall come into force on such date as the Governor may by notice in the Gazette appoint.

Section 2—Interpretation.

In this Ordinance, unless the context otherwise requires —

"chattels" means any movable property that can be completely transferred by delivery, and includes machinery, stock and the natural increase of stock, crops, growing trees and timber, but does not include—

(a) title-deeds, things in action (other than a debt), negotiable instruments;

(b) shares and interests in the stock, funds or securities of any Government or local authority;

(c) shares and interests in the capital or property of any company or other corporate body; or

(d) debentures and interest coupons issued by any Government, or local authority, or company, or other corporate body;

"crops" means cocoa beans, coffee berries, sugar cane,           wheat, maize, millet, guinea corn and grass (whether for hay or for grain), the produce of oil palm trees and rubber trees, all cereal and root crops, fruit and all other crops grown above or below the ground;

"executed" means signed by the grantor or his attorney;

"factory" or "workshop" means any premises on which any manual labour is exercised by way of trade or for purposes of gain in or about the making, altering, repairing, ornamenting, finishing, or adapting for sale of any article or part of any article;

"grantee" means the party to an instrument to whom chattels therein referred to, or any interest therein, are thereby granted or assigned, or agreed so to be, and includes his executors, administrators and assigns, and in the case of a company or corporation includes the successors and assigns of such company or corporation;

"grantor" means the party to an instrument who thereby grants or assigns, or agrees to grant or assign, chattels therein referred to, or any interest therein, and includes his executors, administrators, and assigns, and in the case of a company or corporation includes the successors and assigns of such company or corporation;

"instrument" means any instrument given to secure the payment of money or the performance of some obligation and includes any bill of sale, mortgage, lien, or any other document that transfers or purports to transfer the property in or right to the possession of chattels, whether permanently or temporarily, whether absolutely or conditionally, and whether by way of sale, security, pledge, gift, settlement, or lease, and also the following:—

(a) inventories of chattels with receipt thereto attached;

(b) receipts for purchase-money of chattels;

(c) other assurances of chattels;

(d) declarations of trust without transfer;

(e) powers of attorney, authorities, or licences to take possession of chattels as security for any debt;

(f) any agreement, whether intended to be followed by the execution of any other instrument or not, by which a right in equity to any chattels, or to any charge or security thereon or thereover, is conferred;

"instrument" does not include the following:—

(a) securities over, or leases of, fixtures (except "trade machinery" as hereinafter defined, when mortgaged or charged apart from the land to which it is attached) when mortgaged, charged or leased in any mortgage, charge or lease of any freehold or leasehold interest in any land or building to which they are affixed, and whether or not such fixtures are specifically included in such mortgage, charge or lease by mention thereof in separate words;

(b) assignments for the benefit of the creditors of the person making the same;

(c) transfers of or agreements to transfer instruments by way of security;

(d) transfers or assignments of any ship or vessel or any share thereof;

(e) transfers of chattels in the ordinary course of business of any trade or calling;

(f) debentures and interest coupons issued by any Government or local authority;

(g) bills of sale of chattels in any foreign parts, or at sea;

(h) bills of lading, warehouse-keepers' certificates, warrants, or orders for the delivery of chattels, entries in auctioneers' books, or any other document used in the ordinary course of business as proof of the possession or control of chattels, or authorising or purporting to authorise, either by endorsement or delivery, the possessor of such document to transfer or receive the chattels thereby represented;

(i) debentures and interest coupons issued by any company or other corporate body and secured upon the capital stock or chattels of such company or other corporate body;

(j) mortgages or charges granted or created by a company incorporated or registered under the Companies Ordinance;

(k) hire-purchase agreements;

"Registrar" means the Registrar-General;

(l) any instrument which is a concession within the meaning of the Concessions Ordinance, 1939, and which relates solely to chattels comprised in the definition of "concession" in section 2 of that Ordinance;

"registration" means the filing of an instrument with schedule or inventories, or a true copy thereof, with the affidavit hereinafter mentioned;

"schedule" includes inventory;

"timber" has the same meaning as in the Trees and Timber Ordinance, 1949;

"trade machinery" means the machinery used in or attached to any factory or workshop as hereinbefore defined and machinery and plant used in connection with the production, preparation or manufacture of agricultural products, but does not include —

(a) the fixed motive power, such as the water-wheels and steam and other engines and the steam boilers, donkey engines and other fixed appurtenances of the said motive power;

(b) the fixed power machinery (such as the shafts, wheels, drums and their fixed appurtenances) for transmitting the action of the motive power to the other machinery, fixed and loose; or

(c) the pipes for steam, gas and water.

Section 3—Attornment or Agreement giving Power of Distress by way of Security to be Instrument within Meaning of Ordinance.

An attornment or agreement (not being a mining lease) whereby a power of distress is given or agreed to be given by one person to another by way of security for any present, future, or contingent debt or advance, and whereby any rent is reserved or made payable as a means of providing for the payment of interest on such debt or advance, or otherwise for the purpose of such security only, shall be deemed to be an instrument within the meaning of an Ordinance so far as regards any chattels seized or taken under power of distress:

Provided that where a mortgagee of any interest in land, after entering (under the powers contained or implied in the mortgage) into possession of the mortgaged land, or into receipt of the rents and profits thereof, demises the said land or any part thereof to the mortgagor at a fair and reasonable rent, the instrument whereby such demise is affected shall not be deemed to be an instrument within the meaning of this Ordinance.

REGISTRATION.

Section 4—Registration of Instrument to be Notice.

All persons shall be deemed to have notice of an instrument and of the contents thereof so soon as such instrument has been registered as provided by this Ordinance:

Provided that if registration of such instrument is not renewed pursuant to the provisions of this Ordinance, prior registration shall not be deemed to operate as notice after the lapse of the period within which renewal is required by this Ordinance.

Section 5—Mode of Registration.

First Schedule

Registration of an instrument shall be effected by filing the same and all schedules endorsed thereon, annexed thereto, or referred to therein, or a true copy of such instrument and the schedules, and an affidavit in the form numbered (1) in the First Schedule to this Ordinance or to the like effect, in the office of the Registrar.

Section 6—Limitation of Time for Registration.

(1) The period within which an instrument may be registered shall be six weeks from the day on which it was executed or from the commencement of this Ordinance, whichever shall be the later. [As Amended by the Charttels Transfer (Amendment) Ordinance, 1953 (No 13 of 1953) s. 2(a) and 2(b)].

Provided that when the time for registering an instrument expires on a day whereon the Registrar's office is closed, the registration shall be valid if made on the next following day on which such office is open.

(2) If there are more grantors than one, the date of execution of the instrument shall be deemed to be the date of the execution by the grantor who last executes the instrument.

(3) The day on which the instrument is executed shall not be included in the period for registration; but the instrument may be registered on that day.

Section 7—Register Books and Index to be Kept.

First Schedule.

(1) The Registrar shall cause every instrument registered in his office under this Ordinance to be numbered, and shall mark on each such instrument, or on the filed copy thereof, the date of registration and the number, and shall at the time of registration enter in a register to be kept for the purpose in his office the particulars of the instrument registered according to the form numbered (2) in the First Schedule to this Ordinance.

(2) The Registrar shall also keep an index of the names of grantors and grantees of instruments and shall refer therein to the entries in the register book of the instruments given by each such grantor.

Local Registration Abstracts of Instruments.

(3) Where the instrument describes the residence of the person making or giving the same of the chattels enumerated therein as being in some place outside the Eastern Judicial Division of the Gold Coast, the Registrar shall forthwith and within three clear days after registration in the registry transmit an abstract of the contents of such instrument to the Registrar of the Divisional Court exercising jurisdiction in the area in which such places are situate. Every abstract so transmitted shall be filed, kept, and indexed by the Registrar of the Divisional Court and any person may search, inspect, make extracts from, and obtain copies of the abstract so registered in the like manner and upon the like terms as to payment or otherwise as near as may be as in the case of instruments registered by the Registrar.

Section 8—Fee on Registration.

There shall be paid to the Registrar upon the registration of every instrument the fee of five shillings.

Section 9—Time for Registration may be Extended, and Mistakes in Register Corrected.

The Supreme Court, on being satisfied that the omission to register an instrument or an affidavit of renewal thereof within the time prescribed by this Ordinance, or according to the form  or effect required by this Ordinance, or that the omission or mis-statement in the register or in any affidavit of the name, residence, or occupation of any person, or of any other matter, was accidental or due to inadvertence, may order such omission or mis-statement to be rectified by extending the time for such registration, or by the filing of a supplementary affidavit, or by the insertion in the register of the true name, residence, or occupation, on such terms and conditions as it thinks fit.

RENEWAL OF REGISTRATION.

Section 10—Registration to be Renewed Every Five Years.

(1) The registration of an instrument, whether executed before or after the coming into operation of this Ordinance, shall, during the subsistence of such instrument, be renewed in the manner hereinafter mentioned once in every period of five years commencing from the day of the registration.

(2) If not so renewed, the registration shall cease to be of any effect at the expiration of any period of five years during which a renewal has not been made as hereby required.

Mode of Renewal.

First Schedule

(3) The registration of an instrument shall be renewed by filing in the office of the Registrar an affidavit in the form numbered (3) in the First Schedule to this Ordinance or to the like effect.

(4) The Registrar shall thereupon number such affidavit as if the same were an instrument presented for registration, and renumber the instrument originally registered in the said office, or the filed copy thereof, with a similar number, and mark thereon the date of renewal of registration, and shall enter particulars of the instrument in the register book in like manner as on an original registration, and shall also enter the date of renewal of registration in the column provided therefor in the register book.

Fee on Renewal.

(5) There shall be paid to the Registrar upon the renewal of registration of any instrument the fee of five shillings.

(6) The provisions of subsection (3) of section 7 of this Ordinance shall apply mutatis mutandis to the renewal of the registration of any instrument.

SEARCHES AND OFFICE COPIES.

Section 11—Register Book and Instruments may be Searched and Viewed.

The register books hereinbefore provided for, and every instrument registered aforesaid, or the filed copy thereof, may be searched and viewed by all persons during the office hours of the Registrar upon payment of a fee of two shillings for every search against any one person.

Section 12—Office Copies may be Had.

Any person shall be entitled to have an office copy or an extract of or from any instrument with the schedules filed therewith, or of or from the copy thereof registered as aforesaid, and an office copy of any affidavit filed under this Ordinance, on paying for the same at the rate of one shilling for every folio of one hundred words contained in such copy or extract or if he makes such copy or extract himself the Registrar shall, upon satisfying himself that such copy or extract is correctly made, certify the same upon payment of a fee of ten shillings for each instrument or extract therefrom, and of sixpence for every folio of one hundred words after the first ten folios.

EFFECT OF NON-REGISTRATION.

Section 13—Unregistered Instruments to be Void in Certain Cases.

Every instrument, unless registered in the manner hereinbefore provided, shall, upon the expiration of the time for registration, or if the time for registration is extended by the Supreme Court then upon the expiration of such extended time, be deemed fraudulent and void as against—

(a) the assignee or trustee acting under any assignment for the benefit of the creditors of the person whose chattels or any of them are comprised in any such instrument;

(b) any person seizing the chattels or any part thereof comprised in any such instrument in execution of the process of any court authorising the seizure of the chattels of the person by whom or concerning whose chattels such instrument was made, and against every person on whose behalf such process was issued,

so far as regards the property in or right to the possession of any chattels comprised in or affected by the instrument which, at or after the time of the execution by the grantor of such assignment for the benefit of his creditors, or of the execution of such process (as the case may be), and after the expiration of the period within which the instrument is required to be registered, are in the possession or apparent possession of the person making or giving the instrument, or of any person against whom the process was issued under or in the execution of which the instrument was made or given, as the case may be. [As Substituted by the Chattels Transfer (Amendment) Ordinance 1953 (No. 13 of 1953) s. 3].

Section 14—Instrument not Registered within Time limited not to Affect Bona Fide Purchaser for Value without Notice.

No unregistered instrument comprising any chattels whatsoever shall, without express notice, be valid and effectual as against any bona fide purchaser or mortgagee for valuable consideration, or as against any person bona fide selling or dealing with such chattels as auctioneer or dealer or agent in the ordinary course of his business.

AS TO INSTRUMENTS GENERALLY.

Section 15—Instrument to be Attested.

Sealing shall not be essential to the validity of any instrument; but every execution of an instrument shall be attested by at least one witness, who shall add to his signature his residence and occupation.

Section 16—Instrument to take Effect from Registration.

Every instrument shall be deemed to be made on the day on which it is executed, and shall take effect from the time of its registration.

Section 17—Instrument to have Inventory of Chattels.

Every instrument shall contain or shall have endorsed thereon or annexed thereto, a schedule of the chattels comprised therein, and save as is otherwise expressly provided by this Ordinance, shall give a good title only to the chattels described in the said schedule, and shall be void as against the persons mentioned in sections 13 and 14 hereof in respect of any chattels not so described.

Section 18—Instrument Void where Grantor not Owner of Chattels.

Save as is otherwise expressly provided by this Ordinance, an instrument shall be void as against the persons mentioned in sections 13 and 14 hereof in respect of any chattels which the grantor acquires or becomes entitled to after the time of the execution of the instrument.

Section 19—Instrument Subject to Defeasance, Etc., Void in Certain Cases.

(1) If an instrument is made or given subject to any defeasance, condition, or declaration of trust not contained in the body thereof, such defeasance, condition, or declaration of trust shall for the purposes of this Ordinance be taken as part of such instrument, and shall be written on the same paper or parchment on which such instrument is written, otherwise such instrument shall be void as against the persons mentioned in sections 13 and 14 hereof so far as regards the property in or right to the possession of any chattels comprised in or affected by such instrument.

(2) In the case of a document securing the payment of the moneys or any part thereof payable by virtue of an instrument it shall not be necessary for the purposes of this section to write such document on the same paper or parchment so long as the date, names of the parties thereto, and the nature of the security are set forth in the instrument or in some schedule thereto.

Section 20—Saving.

Nothing in section 17, 18 and 19 of this Ordinance shall render an instrument void in respect of the following chattels, that is to say:—

(a) Growing trees, timber and crops;

(b) Fixtures, plant, or trade machinery where the same are used in, attached to, or brought upon any place in substitution for any of the like nature described in, or on the schedule to, such instrument.

Section 21—Saving of Laws Prescribing Formalities as to Execution of Instruments or Securing Rights Thereunder.

Nothing in this Ordinance shall be deemed to affect any law for the time being in force —

(a) prescribing any formalities to be observed on or about the execution of instruments within the meaning of this Ordinance; or

(b) conferring or securing any rights or claims under or in respect of any instrument.

FORM OF INSTRUMENTS.

Section 22—Form of Instrument by Way of Security.

First Schedule

(1) Every instrument for registration under this Ordinance, executed after the commencement of this Ordinance, shall be in the form numbered (4) in the First Schedule to this Ordinance or to the like effect with such variations or modification thereof and additions thereto as are expressed in the instrument. [As Substituted by the Chattels Transfer (Amendment) Ordinance 1953, (No. 13 of 1953) s. 4].

(2) An instrument securing an account current continues in full force and effect notwithstanding that the grantor may from time to time be in credit on such account.

Section 23—Where Successive Securities are given Over Same Chattels.

Where an instrument is executed after the execution of a prior instrument which has never been registered, and comprises all or any of the chattels comprised in such prior instrument, then if such subsequent instrument is given as a security for the same debt as is secured by the prior instrument, or for any part of such debt, it shall, to the extent to which it is a security for the same debt or part thereof, and so far as respects the chattels comprised in the prior instrument, be void as against the persons mentioned in sections 13 and 14 hereof, unless it is proved to the court having cognizance of the case that the subsequent instrument was bona fide given for the purpose of correcting some material error in the prior instrument, and not for the purpose of evading this Ordinance.

SECURITIES OVER GROWING TREES AND TIMBER.

Section 24—Security may be given Over Growing Trees.

An instrument may be granted over trees described or referred to therein or in the Schedule thereto when actually growing upon the lands mentioned in the instrument, and shall entitle the grantee thereof to the whole of the trees therein mentioned and the timber therefrom, not only while growing, but afterwards when cut or separated from the soil and whether kept upon the land where the same were grown or on any other land or premises.

Section 25—Saving Rights of Landlord or Mortgagee.

No such instrument shall prejudicially affect the rights of any landlord or mortgagee of any land whereon the said trees are growing, unless and so far as the landlord or mortgagee has consented in writing to such instrument:

Provided that no such instrument being duly registered shall be extinguished or prejudicially affected by any subsequent sale, lease, mortgage or other encumbrance of or upon the land described or referred to in the instrument or in any Schedule thereto.

Section 26—Trees and Timber to be Described.

Where growing trees or timber are comprised in any instrument they shall be described or referred to therein or in the Schedule thereto —

(a) in the case of growing trees by a painted mark of identification; and

(b) in the case of timber, by a stamped mark of identification,

otherwise the instrument shall be void as against the persons mentioned in sections 13 and 14 hereof, so far as regards such or so much of such growing trees or timber, as the case may be, as are not so described or referred to; and the land or premises on which such growing tree or timber are, or are intended to be kept, shall be described or mentioned in such instrument or Schedule.

SECURITIES OVER CROPS.

Section 27—Security may be given Over crops.

An instrument may be granted over the crops described or referred to therein or in the schedule thereto when actually sown or growing or planted or to be sown or grown or planted, in or upon the lands mentioned in the instrument, and shall entitle the grantee thereof to the whole of the crops therein mentioned, not only while growing, but afterwards when cut or separated from the soil, and whether stacked or stored on the land where the same were grown or on any other land or premises, or whether the nature of the crop has been altered by a process of curing, fermenting or manufacture.

Section 28—Saving of Rights of Landlord or Mortgagee.

No such instrument shall prejudicially affect the rights of any landlord or mortgagee of any land whereon the said crops are growing, unless and so far as the landlord or mortgagee has consented in writing to such instrument:

Provided that no such instrument being duly registered shall be extinguished or prejudicially affected by any subsequent sale, lease, mortgage or other encumbrance of or upon the land described or referred to in the instrument or in any Schedule thereto.

ASSIGNMENT OF BOOKS AND OTHER DEBTS.

Section 29—Instrument may Comprise Book Debts.

(1) Book or other debts shall be deemed to be chattels situate in the place where the grantor of the instrument comprising them longest resided or carried on business during the period of six months next before the execution of the instrument.

(2) In every instrument comprising book or other debts each debt shall be deemed to be a separate chattel, and shall be described in the schedule thereto by setting forth the name of the debtor or firm of debtors and the amount of the debt, so far as is reasonably necessary to show by whom the debts are owing and every such instrument shall be void as against the persons mentioned in sections 13 and 14 of this Ordinance in respect of any debt not so described.

(3) Nothing in this section shall apply to any debt secured or charged on land.

(4) Nothing in this section shall apply to any floating security granted by a company registered under the Companies Ordinance over the assets of such company, provided that such security is registered in the manner required by that Ordinance.

(5) Nothing in this section shall apply to any assignments of book debts included in a transfer of a business made bona fide and for value.

ENTRY OF SATISFACTION.

Section 30—Memorandum of Satisfaction may be Filed.

(1) In the case of an instrument, upon the production to the Registrar of a memorandum of satisfaction in the form numbered (5) in the First Schedule to this Ordinance or to the like effect, signed by the grantee thereof or his attorney, discharging the chattels comprised in such instrument or any specified part thereof from the moneys secured thereby or any specified part thereof, or from the performance of the obligation thereby secured or any specified part thereof, and on production of such instrument and payment of a fee of five shillings, the Registrar shall file such memorandum and make an entry thereof in the register book on the page where the instrument is registered.

(2) The execution of such memorandum shall be attested by at least one witness, who shall add to his signature his residence and occupation, and shall be verified by the affidavit of that witness.

(3) The Registrar may, in his discretion, dispense with the production of the instrument on proof by affidavit to his satisfaction that the instrument has been destroyed, cannot be found, or cannot be produced.

Section 31—Effect of Filing such Memorandum.

From and after the filing of any such memorandum the debt or charge created by the instrument shall be vacated to the extent specified in the memorandum, and the interest of the grantee of the chattels expressed to be discharged shall vest in the person for the time being entitled to the equity of redemption therein, but so far only as such interest is expressed by the memorandum to be determined, and subject to any lien or equity affecting the chattels.

Section 32—Public Trustee may Sign Memorandum in Certain Cases.

Where the grantee of an instrument by way of security is absent from the Gold Coast, and there is no person in the Gold Coast authorized to discharge the same on his behalf at or after the date appointed for the payment of the moneys secured by such instrument, the Public Trustee may receive such moneys in trust for the person entitled thereto, and may sign a memorandum of satisfaction in lieu of such person, and upon the filing thereof such memorandum, signed by the Public Trustee, shall be as effectual as a memorandum signed by the person entitled to such moneys.

Section 33—Supreme Court may Order Memorandum to be Filed.

The Supreme Court may, upon application made for that purpose, order a memorandum of satisfaction to be filed in respect of any instrument if it appears that the debt (if any) for which such instrument was given as security has been satisfied or discharged, or that the obligation for securing the performance of which the instrument was given has been performed; and thereupon such order may be filed by the Registrar and entered in his book in like manner as if the same were a memorandum within the meaning of section 30 of this Ordinance.

SALES.

Section 34—Sales.

Chattels under this Ordinance or any part thereof may be sold along with or separately from land (if any) mortgaged to secure payment of the same moneys as are secured by any instrument under this Ordinance.

SALE OF GRANTOR'S INTEREST.

Section 35—Grantor's Interest in Chattels may be Sold in Execution of Judgment against Him.

(1) Where legal process issues against the chattels of a judgment-debtor for the execution of a judgment of any court, and the said chattels, or any of them, are comprised in any instrument registered under this Ordinance, the officer charged with the execution of the process may, in lieu of seizing and selling the chattels so comprised, sell the right, title, and interest of the judgment-debtor in the same. [As Amended by the Chattels Transfer (Amendment) Ordinance 1953, (No. 13 of 1953) s. 5].

(2) The grantee of the instrument, on receiving notice of the purchase of that right, title, and interest, may take possession of the chattels comprised in the instrument.

(3) A grantee so taking possession shall be deemed to hold the chattels in trust for the purchaser of the said right, title, and interest, subject to payment of all moneys due under the instrument.

(4) If the chattels are afterwards sold under the power of sale expressed or implied in the instrument, and any surplus remains out of the proceeds of the sale after payment of all moneys due under the instrument, the grantee shall on demand pay over that surplus to the purchaser of the said right, title, and interest.

(5) If the grantee makes default herein, the purchaser may bring an action against him to recover the surplus, as money received to the use of the purchaser.

Section 36—Not to Affect Interpleader Process.

Nothing in section 35 of this Ordinance shall be deemed to affect the right of an execution creditor to test the validity of any instrument by interpleader process.

IMPLIED COVENANTS, ETC.

Section 37—Covenants for Title.

Second Schedule.

There shall be implied in every instrument the covenants for title on the part of the grantor set forth in the Second Schedule to this Ordinance, and such implied covenants shall have the same effect as if the same were respectively set out at length in the instrument.

Section 38—Covenants Etc., Implied in Instrument.

Third Schedule.

There shall be implied in every instrument the covenants, provisos, agreements, and powers set out in the Third Schedule to this Ordinance, or such of them as are applicable; and such implied convenants, provisos, agreements, and powers shall, subject to any modifications of the same and in so far as they are not inconsistent with the provisions of any Ordinance expressed in the instrument have the same effect as if the same were respectively set out therein at length.expressed in the instrument have the same effect as if the same were respectively set out therein at length. [As Inserted by the Chattels Transfer (Amendment) Ordinance 1953, (No. 13 of 1953) s. 6(a)].

Section 39—Meaning of Abbreviated Expressions.

Fourth Schedule.

Such of the expressions defined in section 2 of this Ordinance or in the Fourth Schedule to this Ordinance as are used in any instrument, or in any of the covenants, provisos, agreements, or powers implied therein by this Ordinance, shall, unless the contrary is expressed in such instrument, or unless manifestly inconsistent with the context, have the meanings given to the same in the said section 2 or Fourth Schedule, and such meanings shall be implied in such instrument as fully and effectually as if the same were set out therein.

Section 40—Covenants to be Several as Well as Joint.

Where there are two or more grantors or two or more grantees of any instrument then any covenants, conditions, provisos, agreements, and powers expressed in such instrument, or implied therein by this Ordinance, and imposing an obligation on such grantors or grantees, or enuring for the benefits of such grantors or grantees, shall, except in so far as a contrary intention appears, be deemed to impose such obligation, or confer such benefit, as the case may be, severally as well as jointly.

Section 41—Covenants to Bind Executors.

Except in so far as the contrary intention appears, all covenants, conditions, provisos, agreements, and powers expressed in any instrument, or implied therein by this Ordinance, shall bind the executors, administrators, and assigns of the person, or the successors and assigns of a company or corporation, upon whom such convenants, conditions, provisos, agreements, and powers impose an obligation, and shall operate for the benefit of the executors, administrators, and assigns of the person, or the successors and assigns of the company or corporation, for whose benefit the same enure.

Section 42—Covenants may be Negatived or Varied.

All or any of the covenants, provisos, conditions, agreements, or powers set forth in the Second, Third and Fourth Schedule to this Ordinance may be negatived, modified, or altered, or others may be added to them, by express words in the instrument.

TRANSFERS OF INSTRUMENTS.

Section 43—Form of Transfer of Instrument.

Fifth Schedule.

Every instrument may be transferred by a document in the form in the Fifth Schedule to this Ordinance or to the like effect, and every transferee, his executors, administrators, and assigns, shall, in respect of the instrument transferred have the same rights, powers, and remedies, and be subject to the same obligations, as the transferor.

Section 44—Registration of Transfers.

Transfers of instrument may be registered at any time after the execution thereof in like manner as instruments are registered; and, in case two or more transfers of any one such instrument are executed, a registered transfer shall have priority over an unregistered transfer, and, in case two or more transfers of any one such instrument are registered, priority shall be given to such transfers in the order of their time of registration.

PENAL.

Section 45—Attempt to Defraud Grantee.

Every grantor of an instrument under this Ordinance who, by sale or delivery without the consent of the grantee of any chattels comprised in or affected by such instrument, or by any other means, defrauds or attempts to defraud the grantee of the same or any part thereof, and thus or by any other means directly or indirectly defeats, invalidates, or impairs the grantee's security over the same or attempts so to do, and every person who wilfully aids and abets any person in defrauding or attempting to defraud the grantee by defeating, invalidating, or impairing such instrument or in attempting to do so, shall be guilty of an offence and shall be liable on summary conviction to imprisonment for a period not exceeding six months or to a fine not exceeding one hundred pounds or to both such imprisonment and fine.

SCHEDULES.

FIRST SCHEDULE.

(1) AFFIDAVIT ON REGISTRATION OF INSTRUMENT

(Section 5).

In the matter of the Chattels Transfer Ordinance, 1952.

I, (full name of deponent), of (place of residence or business), in the Gold Coast, (occupation), make oath and say as follows:—

1. The paper and writing hereto annexed and marked "A" is a true copy of an instrument under the above-mentioned Ordinance, and of every schedule or inventory thereon endorsed or thereto annexed or therein referred to, and of every attestation of the execution thereof, as made and given and executed by (full name of grantor).

2. The said instrument was made and given by the said (full name of grantor) on the.................day of............19........

3. I was present, and saw (full name of grantor) duly execute the said instrument on the...............day of...................19...., at (state place where instrument executed.)

4. The said (full name of grantor) resides at (place of residence), and is (occupation).

(This may be varied to describe residence at the date of instrument).

5. The name subscribed to the said instrument as that of the witness attesting the due execution thereof by the said (name of grantor) is in the proper handwriting of me, this deponent.

6. I am (occupation) and reside at (place of residence).

                                                                                                            ........................E.F.

Sworn at .................the.............. day of..........................19.....

Before me.........................G.H.

N.B.—If the grantor is absent from the Gold Coast and executes the instrument by attorney, it shall be sufficient if the deponent states his belief as to the present address of the grantor. In the case of a company the registered office should be stated instead of the place of residence.

Where the original instrument is filed, the first paragraph of this affidavit should be struck out, and the second and third paragraphs will require some alterations.

(2) REGISTER BOOK

(Section 7(1))

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BY WHOM GIVEN

No.---------------------------------------------------------------------------------------------------------------------------------------

Name                                              Residence                                           Occupation

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TO WHOM GIVEN

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Name                                                            Residence                                             Occupation

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Nature and                                        Date and time                          Date of                         Satisfaction

date of                                              of registration                          renewal                         entered

instruments

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(3) AFFIDAVIT ON RENEWAL OF REGISTRATION OF INSTRUMENT.

(Section 10(3))

In the matter of the Chattels Transfer Ordinance, 1952.

I, (full name of deponent) of (place of residence or business), in the Gold Coast, (occupation), make oath and say as follows:—

1. I am the grantee of the instrument registered under the above Ordinance, as No...................., and made between (state names of parties to instrument, their residences and occupations, as appearing therein; also names of the parties to the instrument, their residences and occupations at the time of the making of the affidavit).

(If the affidavit is made by an agent, clerk, or servant of the grantee or grantor, state such fact, and also state briefly how deponent has become acquainted with the facts deposed to.)

2. The said instrument was registered on the.............day of.....................19.....

3. The registration of the said instrument was last renewed on the.................day of................19.........

(This paragraph is inapplicable where registration of the instrument is being renewed for the first time).

4. The first instrument is still subsisting, and in full force and effect.

                                                                                                      ........................C.D.

Sworn at...............this............day of..........................19......

Before me..............................G.H.

(4) INSTRUMENT.

(Section 22 (1))

A.B., of (state residence and occupation), being owner of the chattels mentioned in the schedule hereto (where a schedule is necessary), in consideration of the sum of Pounds...........................lent and advanced to him by C.D., of (state residence and occupation), (or, if consideration not an advance of money, state any other consideration for which mortgage given), does hereby assign and transfer the same to the said C.D. by way of mortgage to secure the payment of the said sum of Pounds.....................on the ................day of........ 19........with interest thereon in the meantime, and so long as the same or any part thereof remains unpaid, at the rate of.................per centum per annum by......................................payments on the................................day of the months of...................and.............in each year.

(Implied covenants, powers, and provisions may be varied or negatived.)

In witness whereof A.B. has hereunto subscribed his name, this ................day of..................19.......

(Schedule)

                                                                                                            ...................A.B.

 Signed by the above-named A.B. in the presence of —

                                                                                                             ...................E.F.

                                                                                              (residence and occupation).

(5) MEMORANDUM OF SATISFACTION.

(Section 30(1)).

I, C.D. hereby consent to a memorandum of satisfaction being written upon the instrument (or registered copy of the instrument) given for securing the sum of Pounds..............................., bearing the date the............day of.............................19....., and made between................... .............and.........and registered on the.........day of.........19.......as No..............under the Chattels Transfer Ordinance, 1952, the moneys for which such instrument was given as a security having been satisfied.

Dated this...............day of..............19.....

                                                                                                     ..............................C.D.

                                                                                                     (Grantee or Assignee)

 Witness.....................E.F.

(Residence and occupation)

SECOND SCHEDULE

(Section 37).

COVENANTS FOR TITLE.

1. That the grantor has good right and full power to assign to the grantee the chattels purporting to be hereby assigned; and that they are free and clear from encumbrances other than such as are herein mentioned.

2. That the grantor will, at his own cost, do and execute all such acts, deeds, matters, and things for the better assigning the chattels hereby assigned, or intended so to be, as by the grantee may from time to time be reasonably required.

THIRD SCHEDULE

(Section 38.)

COVENANTS, PROVISOS AND POWERS IMPLIED IN INSTRUMENT.

1. That the grantor will pay to the grantee the principal, money and interest hereby secured, at the rate and  at the time herein mentioned, without any deduction whatever.

2. That the grantor will also pay interest on any further advances that may be secured by this instrument, computed from the time of making the same respectively, at the rate and on the dates mentioned for the payment of interest in this instrument.

3. That the grantor will not, at any time while any moneys remain owing to the security, do or allow any act or deed whereby the chattels hereby assigned shall or may become prejudicially affected, and will at all times, while any moneys remain owing on this security, duly pay all rents from time to time coming due in respect of any lands or premises on which any of the chattels hereby assigned are for the time being situate.

4. That the grantor will at all times, while any moneys remain owing on this security, keep and maintain all and singular the chattels hereby assigned in the like good order and condition in which they are at the date hereof; and, if any of the same are damaged or destroyed, or cease to exist, will repair such damage or replace the chattels so destroyed or ceasing to exist with other chattels of a like nature, and further will, if required so to do by the grantee, execute any instrument that may be necessary to give to the grantee security over chattels replacing the chattels which have been destroyed or have ceased to exist.

PROVISOS AND AGREEMENTS IMPLIED IN INSTRUMENTS.

5. Provided always, and it is hereby declared and agreed, that until the grantor makes default in the payment of any moneys hereby secured, or in the observance or performance of any covenant, condition, or agreement herein expressed or implied, and on his part to be observed and performed, or until the grantor becomes bankrupt, or until execution is levied against the goods of the grantor and such execution is not stayed or satisfied within ten days, the grantor may retain possession and use of the chattels hereby assigned.

6. Provided further that the giving by the grantor to the grantee of any bill of exchange or promissory note for the whole or any part of the money hereby secured shall not, until such bill or note is honoured or met, be considered as payment of or on account of the moneys secured by this instrument, or in any way affect or alter the rights or powers of the grantee by virtue of this instrument; and no promissory note or bill of exchange which before, at, or at any time after the execution of this instrument may be given by the grantor to the grantee for the whole or any portion of the moneys hereby secured or, the remedy thereon of the grantee or of the holder thereof, shall merge in the covenants herein expressed or implied.

POWERS IMPLIED IN INSTRUMENTS.

7. Provided always, and it is hereby declared and agreed, that if default is made by the grantor in payment of any of the principal or interest moneys hereby covenanted to be paid on the day on which the same ought to be paid according to the terms hereof, or in the observance or performance of any of the covenants, conditions or agreements herein expressed or implied, and on the grantor's part to be observed and performed, or if the grantor becomes bankrupt, or if at any time execution is levied against the goods of the grantor and such execution is not stayed or satisfied within ten days, then and in such case the grantee, either personally or by his agent or servants may immediately thereupon or at any time thereafter, without any further consent by the grantor, and without giving to the grantor any notice, or waiting any time and notwithstanding any subsequent acceptance of any payment of any money due on this security, enter upon any lands or premises whereon the chattels for the time being subject to this security may be, and take possession thereof, and sell or dispose of the same or any part thereof by private sale or public auction, separately or together, in such lots and generally in such manner in every respect as the grantee deems expedient, with power to allow time for payment of purchase money, or to buy in the said chattels or any part thereof at such auction, and to rescind or vary the terms of any contract or sale, and to resell without being answerable for any loss or expense occasioned thereby, and to execute all such assurances and do all such things for giving effect to any such sale as may be necessary or proper; and the receipt of the grantee or his agent shall be a sufficient discharge to any purchaser at such sale for any of the purchase money; and upon any sale purporting to be made in exercise of the powers herein expressed or implied no purchaser shall be bound to inquire as to the propriety or regularity of any such sale, or be affected by notice express or constructive that any such sale is improper or irregular.

And it is hereby declared and agreed that the grantee shall stand possessed of the proceeds of any sale upon trust, after paying thereout the costs, charges, and expenses of and incidental to such taking possession, sale, and the preparation and registration of this instrument, to apply the same in reduction of the moneys then owing on the security of this instrument, including all moneys herein covenanted to be paid, notwithstanding that the same may not then have become due, or that any promissory notes or bills of exchange may then be current for the same, and to pay the balance to the grantor.

POWER TO BE IMPLIED IN INSTRUMENTS OVER CROPS, GROWING TREES OR TIMBER.

8. If the grantor does not pay to the grantee the moneys hereby secured, with interest and commission thereon as herein mentioned, at the time herein mentioned for payment of the same, the crops, growing trees or timber, as the case may be, hereby assigned shall be gathered or cut, carried away, and made marketable either by the grantor or by the grantee at the option of the grantee, but in either case at the expense of the grantor, and shall (if gathered or cut by the grantor) be delivered by the grantor to the grantee or his order at the place of delivery herein mentioned (or, if no such place is mentioned in the instrument, at such place as the grantee directs); and the grantee may either sell the same in the Gold Coast, in one or more lots by public auction or private contract, or partly in the one way and partly in the other, and upon such terms and conditions as to credit and otherwise as he thinks fit, or, subject to the provisions of any law in force relating to the export of any crops or timber, may cause the same to be shipped or exported to any place or places out of the Gold Coast, to be sold by his agents in the manner and on the terms aforesaid, without being responsible for any loss or deficiency occasioned either by the shipment of the said crops or timber or by any sale or sales thereof, whether in the Gold Coast or elsewhere, or by the act, neglect, or default of any agent, broker, or other person; and may from the proceeds pay himself the moneys hereby secured, and any rent payable to any landlord, and any moneys payable to any mortgagee or other person that he may be compelled to pay in order to protect his security over the said crops, trees or timber, and all costs, mercantile, and other charges, and expenses incurred in and about the harvesting, cutting, sale, shipment and carrying away of such crops, trees or timber, and the storage and freight thereof, or any other account connected with the realization thereof, and shall pay over the balance, if any, to the grantor.

FOURTH SCHEDULE

(Section 39).

MEANING OF ABBREVIATED EXPRESSIONS.

1. The words "upon demand" mean upon demand being made by notice in writing, signed by the person entitled to make the demand, or any agent or clerk or servant of such person, served upon the person upon whom the demand is to be made, either personally or by posting the same in a duly registered letter addressed to him at his usual or last-known place of abode in the Gold Coast.

2. The words "further advances" mean such further sum or sums of money as may be advanced or paid by the grantee to the grantor after the execution of this instrument, and include also such sums as may become owing by the grantor to the grantee during the continuance of this security for goods supplied, for bills and notes discounted and paid, and for other loans, credits and advances that may during the continuance of this security be made by the grantee to or for the accommodation or at the request of the grantor.

3. The words "will, upon demand, pay the balance due upon the account current between them" mean that the grantor will, on demand, pay to the grantee the balance on the account current of the grantor with the grantee for the time being owing for and on account of the moneys advanced on the execution hereof, or intended to be hereby secured, and for further advances as defined by the Chattels Transfer Ordinance, 1952 and for interest, commission, and other lawful charges from the day of such demand being made till the actual payment thereof at the rate mentioned in this instrument without any deduction; and it is hereby declared and agreed that the said account current shall be made up with half-yearly rests on the half-yearly days mentioned for that purpose in this instrument, in each year (or, if no such days are mentioned in the instrument, then on the 31st day of March and the 30th day of September in each year), until the final balance of account is fully paid; and that this instrument shall be a continuing security for all moneys for the time being owing by the grantor to the grantee, notwithstanding that the account current between them may have at any time theretofore been in credit by payments, settlement of account, or otherwise; and also that upon every such half-yearly day interest shall be considered as converted into principal, and the balance shall be chargeable with interest as aforesaid as upon further advances and also that in making up such account interest at the rate specified in this instrument shall be calculated on the daily debtor balances; and also that, upon any such demand as aforesaid, all bills of exchange or promissory notes given by the grantor to the grantee and then current may, at the option of the grantee, and shall in case of entry into possession or sale by the grantee, be considered as matured or become due, subject to a rebate of interest upon the amount thereof for the time during which the same have to run, to be calculated at the rate at which interest is payable under this instrument, and that the amount of such bills or promissory notes, subject to such rebate, may be charged to the grantor in such account at the time of making such demand.

4. The words "will insure" mean that the party liable to insure will insure and at all times while this instrument remains in force will keep insured against loss or damage by fire all chattels comprised herein of a nature or kind capable of being insured against loss or damage by fire, such insurance to be effected in the name of the other party to this instrument and in some public insurance office to be approved of by him, and to be for the full amount herein specified (or, if no amount is specified then for the full insurable value of the said chattels); and will, at the request of the other party, hand over to and deposit with him the policy of every such insurance, and produce and deliver to him the receipt or receipts for the annual or other premiums payable on account thereof; and also that all moneys received under any such insurance shall, in the event of loss or damage by fire, be laid out and expended, so far as the same extend, in making good such loss or damage (or, if the instrument is given by way of security, in discharging the moneys hereby secured, if such other party so elects):

Provided that, if default be made in the observance or performance of this covenant, such other party may, without prejudice to and concurrently with the powers granted him by this instrument or otherwise by law, insure such chattels, and may forthwith recover the costs and charges of such insurance from the party liable to insure in like manner as if the same had been advanced by way of loan on the security of this instrument.

FIFTH SCHEDULE

(Section 43).

TRANSFER OF INSTRUMENT.

I, C.D. of (state residence and occupation of transferor.), the grantee of the instrument registered in the office of the Registrar-General.....................as No.....................under the Chattels Transfer Ordinance, 1952, do in consideration of (state consideration), hereby transfer to X.Y, of (state residence and occupation of transferee) all my rights, title, estate.

As amended by

CHATTELS TRANSFER (AMENDMENT) ORDINANCE, 1953 (NO.13 OF 1953)1.