In the law of unintended consequences, one door closes and another opens.
The Companies Act 2006 (Amendment of Part 25) Regulations 2013, which introduced a new Part 25 to the Companies Act 2006, have removed the requirement for registration at Companies House of charges created in rent deposit deeds. Under new rules applicable from 6 April 2013, all charges created by companies and LLPs are registrable unless expressly excluded by section 859A(6) of the Companies Act 2006. Section 859A(6)(a) excludes from the registration requirement “a charge in favour of a landlord on a cash deposit given as a security in connection with the lease of land.”
However, as one door is closed, another opens. Under the previous legislation (section 860(7)(a) of the Companies Act 2006 as originally enacted), there was included in the requirement for registration “a charge on land or any interest in land, other than a charge for any rent or other periodical sum issuing out of land.” The wording of the exception excluded from registration requirements the charge on land that is created by a rentcharge, such as an estate rentcharge. This exception no longer exists. Therefore, where a company or LLP creates a rentcharge, registration at Companies House is required.
Land Registry has published a note to this effect. See: Registration of estate rentcharges with Companies House.