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CHARGING ORDER

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Originally appearing in Volume V05, Page 859 of the 1911 Encyclopedia Britannica.
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CHARGING See also:

ORDER , in See also:English See also:law, an order obtained from a See also:court or See also:judge by a See also:judgment creditor under the Judgment Acts 1838 and 184o, by which the See also:property of the judgmentdebtor in any See also:stocks or funds stands charged with the See also:payment of the amount for which judgment shall have been recovered, with See also:interest. A charging order can only be obtained in respect of an ascertained sum, but this would include a sum ordered to be paid at a future date. An order can be made on stock See also:standing in the name of a trustee in See also:trust for the judgment debtor, or on See also:cash in court to the See also:credit of the judgment debtor, but not on stock held by a debtor as a trustee. The application for a charging order is usually made by See also:motion to a divisional court, though it may be made to a judge. The effect of the order is not that of a See also:contract to pay the See also:debt, but merely of an See also:instrument of See also:charge on the shares, signed by the debtor. An See also:interval of six months must elapse before any proceedings are taken to enforce the charge, but, if necessary, a stop order on the fund and the dividends payable by the debtor can be obtained by the creditor to protect his interest A See also:solicitor employed to prosecute any suit, See also:matter or proceeding in any court, is entitled, on See also:declaration of the court, to a charge for his See also:costs upon the property recovered or preserved in such suit or proceeding.

End of Article: CHARGING ORDER

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