Gas Regulation Act, 1982
|
Borrowings. |
4.—(1) Notwithstanding anything contained in any enactment or statutory instrument but subject to any provision of its memorandum and articles of association in that regard, an undertaker to which this section applies shall have power to borrow in such manner as it shall think fit and for that purpose to issue such debentures, debenture stock (perpetual or otherwise) or other securities charged upon all or any part of its assets (including uncalled capital and any chose-in-action or other right to which the undertaker may be entitled), as it shall think fit and to discharge, in such manner as it thinks fit, any liability incurred by it by reason of any such issue. | |
(2) This section applies to any undertaker who adopts a memorandum and articles of association pursuant to section 2 of this Act. |