(7 ) A copy of any trust deed for securing any issue of debentures shall be transmitted to any holder of such
debentures at his request on payment of the sum of seventy-five cents or such less sum as may be prescribed by
the company.
(8 ) If any inspection, copy, extract or other facility prescribed by subsection (5), (6 ) or (7) is refused or not
transmitted the company and every officer of the company who is in default shall be guilty of an offence and
liable to a fine not exceeding level three, and the court, including the court convicting, may by order direct that an
immediate inspection be granted of the register concerned or that copies required shall, subject to payment of the
prescribed sum, be delivered to the person requiring them.
[Section as amended by Act No. 22 of 2001]
108 Power to keep branch register of debenture holders
(1 ) A company issuing debentures may, if so authorized by its articles, cause to be kept in any foreign country a branch register of debenture holders (in this Act called “a branch register of debenture holders”).
(2 ) The company shall give to the Registrar notice of the situation of the office where any branch register of
debenture holders is kept and of any change in its situation, and if it is discontinued of its discontinuance, and any
such notice shall be given within one month of the opening of the office or of the change or discontinuance, as the
case may be.
(3 ) If default is made in complying with the requirements of subsection (2) the company and every officer of
the company who is in default shall be guilty of an offence and liable to a default fine not exceeding level one.
[Section as amended by Act No. 22 of 2001]
109 Regulations as to branch register of debenture holders
(1 ) A branch register of debenture holders shall be deemed to be part of the company’s register of debenture
holders (in this section called “the principal register”).
(2 ) It shall be kept in the same manner in which the principal register is by this Act required to be kept.
(3 ) The company shall—
(a ) transmit to the office at which the principal register is kept a copy of every entry in its branch register of
debenture holders as soon as may be after the entry is made; and
(b ) cause to be kept at the place where the company’s principal register is kept a duplicate of its branch
register of debenture holders duly entered up from time to time.
Every such duplicate shall for all the purposes of this Act be deemed to be part of the principal register.
(4 ) Subject to the pro visions of this section with respect to the duplicate register, the debentures registered in
a branch register of debenture holders shall be distinguished from the debentures registered in the principal register, and no transaction with respect to any debentures registered in a branch register of debenture holders shall,
during the continuance of that registration, be registered in any other register.
(5 ) A company may discontinue to keep a branch register of debenture holders, and thereupon all entries in
that register shall be transferred to some other branch register of debenture holders or to the principal register.
(6 ) Subject to this Act and any law relating to stamp duty, any company may, by its articles, make such pr ovisions as it may think fit respecting the keeping of branch registers of debenture holders.
(7 ) If default is made in complying with the requirements of subsection (3) the company and every officer of
the company who is in default shall be guilty of an offence and liable to a default fine not exceeding level one.
[Section as amended by Act No. 22 of 2001]
110 Power to re-issue redeemed debentures in certain cases
(1 ) Where a company has, whether before, on or after the 1st April, 1952, redeemed any debentures previously issued, then—
(a ) unless any provision to the contrary, whether expressed or implied, is contained in the articles or in any
contract entered into by the company; or
(b ) unless the company has, by passing a resolution to that effect or by some other act, manifested its intention that the debentures shall be cancelled and not re-issued;
the company shall have, and shall be deemed always to have had, power to re -issue the debentures, either by reissuing the same debentures or by issuing other debentures in their place.
(2 ) On a re-issue of redeemed debentures the person entitled to the debentures shall have, and shall be
deemed always to have had, the same priorities as if the debentures had never been redeemed.
(3 ) Where a company has, whether before, on or after the 1st April, 1952, deposited any of its debentures to
secure advances from time to time on current account or otherwise, the debentures shall not be deemed to have
been redeemed by reason only of the account of the company having ceased to be in debit whilst the debentures
remained so deposited.
(4 ) The re-issue of a debenture or the issue of another debenture in its place under the power by this section
given to, or deemed to have been possessed by, a company, shall be treated as the issue of a new debenture for the
purposes of stamp duty, but it shall not be so treated for the purposes of any provision limiting the amount or
numbers of debentures to be issued:
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