2066
Perpetual debentures,
8 Edw. 7,
No. 58 of 1911.
COMPANIES
any such debentures, and of any holder of shares in the company, but subject to such reasonable restrictions as the company may in general meeting impose, so that at least two hours in each day are appointed for inspection, and every such holder may require a copy of the register or any part thereof on payment of twenty-five cents for every one hundred words required to be copied.
(2) A copy of any trust deed for securing any issue of debentures shall be forwarded to every holder of any such debentures at his request on payment in the case of a printed trust deed of the sum of one dollar or such less sum as may be prescribed by the company, or, where the trust deed has not been printed, on payment of twenty-five cents for every one hundred words required to be copied.
(3) If inspection is refused, or a copy is refused or not forwarded, the company shall be liable to a fine not exceeding fifty dollars, and to a further fine not exceeding twenty dollars for every day during which the refusal continues, and every director, manager, secretary, or other officer of the company who knowingly authorises or permits such refusal shall incur the like penalty.
(4) If such inspection cannot be obtained at the registered office of the company with the exercise of a reasonable amount of diligence, the company shall be liable to the same penalties as if such inspection had been actually refused.
Debentures and floating charges.
105. A condition contained in any debentures or in any deed for securing any debentures, whether issued or executed before or after the commencement of this Ordinance, shall not be invalid by reason only that thereby the debentures are made irredeemable, or redeemable only on the happening of a contingency, however remote, or on the expiration of a period, however long, any rule of equity to the contrary notwithstanding.
Power to re-issue redeemed debentures in certain cases.
8 Edw. 7,
c. 69, s. 104.
106.--(1) Where either before or after the commencement of this Ordinance a company has redeemed any debentures previously issued, the company, unless the articles or the conditions of issue expressly otherwise provide, or unless the debentures have been redeemed in pursuance of any obligation on the company so to do (not being an obligation enforceable
2066
Perpetual debontares,
8 Edw. 7,
No. 58 of 1911.
COMPANIES.
any such debentures, and of any holder of shares in the company, but subject to such reasonable restrictions as the company may in general meeting impose, so that at least two hours in each day are appointed for inspection, and every such holder may require a copy of the register or any part thereof on payment of twenty-five cents for every one hundred words required to be copied.
(2) A copy of any trust deed for securing any issue of debentures shall be forwarded to every holder of any such debentures at his request on payment in the case of a printed trust deed of the sum of one dollar or such less sum as may he prescribed by the company, or, where the trust deed has not been printed, on payment of twenty-five cents for every one hundred words required to be copied.
(3) If inspection is refused, or a copy is refused or not forwarded, the company shall be liable to a fine not exceeding fifty dollars, and to a further fine not exceeding twenty dollars for every day during which the refusal continues, and every director, manager, secretary, or other officer of the company who knowingly authorises or permits such refusal shall incur the like penalty.
(4) If such inspection cannot be obtained at the registered office of the company with the exercise of a reasonable amount of diligence, the company shall be liable to the same penalties as if such inspection had been actually refused.
Debentures and floating charges.
105. A condition contained in any debentures or in any deed for securing any debentures, whether issued or executed c. 69, s. 103. before or after the commencement of this Ordinance, shall not be invalid by reason only that thereby the debentures are made irredeemable, or redeemable only on the happening of a contingency, however remote, or on the expiration of a period, however long, any rule of equity to the contrary notwithstanding.
Power to re-issue redoomed debentures in certain
cases.
8 Edw. 7,
c. 69, s. 104.
106.--(1) Where either before or after the commencement of this Ordinance a company has redeemed
any debentures previously issued, the company, unless the articles or the conditions of issue expressly otherwise provide, or unless the debentures have been redeemed in pursuance of any obligation on the company so to do (not being an obligation enforceable
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