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SOLR_PROP

Companies Act, 1963

Provisions as to register of debenture holders.

91.(1) Every company shall keep a register of holders of debentures of the company and enter therein the names and addresses of the debenture holders and the amount of debentures currently held by each.

For the purposes of this subsection, debentures do not include any debenture which does not form part of a series ranking pari passu nor any debenture which is transferable by delivery.

(2) A company shall keep such register at the registered office of the company, any other office of the company at which the work of making it up is done, or if the company arranges with some other person for the making up of the register to be undertaken on behalf of the company by that other person, at the office of that other person at which the work is done.

(3) Subject to subsection (4), every company shall send notice to the registrar of companies of the place where the register is kept, and of any change in that place.

(4) A company shall not be bound to send notice under subsection (3) where the register has, at all times since it came into existence, or, in the case of a company which came into existence after the operative date, at all times since then, been kept at the registered office of the company.

(5) Where a company makes default in complying with subsection (1) or (2) or makes default for 14 days in complying with subsection (3), the company and every officer of the company who is in default shall be liable to a fine not exceeding £50.