# Modification of Charge (Section 79)
## 1. The Rule
Any modification of a registered charge must be registered with the ROC, following the same procedure as Section 77 (timelines, form CHG-1, verification, fees, extension).
## 2. What Counts as a 'Modification'?
| # | Type of Change | Example |
|---|---|---|
| (a) | Variation in terms and conditions of the agreement, including rate of interest (whether by mutual agreement or by operation of law) | Floating rate revised from 9% to 10% |
| (b) | Variation in the extent or operation of any charge | Additional asset added to the security pool, or part of the secured asset released |
| (c) | Assignment of the charge-holder's rights to a third party | Bank A assigns the loan and security to NBFC C |
## 3. Certificate of Modification
- Once the modification is registered under Section 79, the ROC issues a Certificate of Modification in Form CHG-3.
- The certificate is conclusive evidence that the requirements of Chapter VI and the rules have been satisfied.
## 4. Practical Pointers
- The 30-day filing window starts from the date of modification, not from original creation.
- Modifications missed within 30 days follow the same extension rules as Section 77 (30+60 days mechanism for post-02-11-2018 charges).