22 (d) convert any right, interest or claim held by a creditor in relation to a company under reconstruction into shares equal in value to the true or fair value of the right, claim or interest previously held by the creditor and issue the shares to the creditor as fully paid up shares; (e) issue to any creditor of the company under reconstruction any debentures or other securities not being shares in a reconstructed company in satisfaction of any claim, right or interest held by the creditor in relation to the company under reconstruction; (f) amend the memorandum and articles of association of the company under reconstruction; (g) amalgamate the company under reconstruction with any of its associate companies; (h) where two or more companies are under reconstruction together, amalgamate both or any of them; (i) dissolve the company under reconstruction or any of its associate companies and secure the formation of one or more companies limited by shares, which shall be the successor company or companies to the company under reconstruction or any of its associate companies; (j) redistribute the assets and liabilities of the company under reconstruction and any of its associate companies between them or between its successor company or companies formed pursuant to paragraph (i); (k) dissolve the board of directors of the company under reconstruction and substitute therefor any assistant administrator; (l) confirm in office any director of the company under reconstruction; (m) appoint and vest the management of any reconstructed company in an interim board of directors of any reconstructed company which shall hold office until the next annual general meeting of the members of the company following its reconstruction. (2) Subject to subsection (3), the administrator may issue debentures referred to in subsection (1)(e)⎯ (a) to creditors of a specified class, or creditors whose debts or claims are less than or exceed a specified value, whether in respect of the whole claim or the portion of the claim that is less than or exceeds the specified value; and (b) on the following terms, or on terms not less favourable to the creditors than the following terms, namely that each debenture shall⎯ (i) secure a sum equivalent to the money value of the debt or claim at the date of reconstruction; and (ii) bear zero interest or interest at a fixed rate only; and (iii) be payable to bearer; and (iv) have a maturity date not exceeding twenty-four months from the date when the scheme of reconstruction is approved under section 24, and be fully redeemable by the reconstructed company on maturity. (3) Where the administrator proposes to issue debentures referred to in subsection (1)(e) on terms that are less favourable to the creditors of the company under reconstruction than are