601CZB

Register of debenture holders to be maintained by non‑companies

In force

(1)

A body that is not a company must set up and maintain a register of debenture holders if it issues debentures covered by Chapter 2L.

Note 1:

Companies have to keep a register of debenture holders under sections 168 and 171.

Note 2:

The register may be kept on computer (see section 1306).

(1A)

An offence based on subsection (1) is an offence of strict liability.

Note:

For strict liability, see section 6.1 of the Criminal Code.

(2)

The register must contain the following information about each debenture holder:

(a)

their name and address;

(b)

the amount of the debentures held.

(3)

A body’s failure to comply with this section in relation to a debenture does not affect the debenture itself.

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