Duties Act 2001

A debenture issued by a public company is an exempt short-term debenture if—

the amount repayable under the debenture is repayable within 6 months after it is issued or is not repayable within a fixed or certain period but the amount is later paid or repaid within 6 months after it is issued; and

the debenture is not part of an arrangement, the effect of which is to extend the period for repayment of an amount to more than 6 months after it is issued.

If a debenture is reissued or renewed, the combined terms of debentures is taken into account when deciding when the amount under the debenture is repayable for subsection (1).

Also, for subsection (1), debentures subscribed for by a corporation include debentures subscribed for by a related body corporate unless the commissioner decides otherwise.