Commonwealth Consolidated Acts

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Register of debenture holders to be maintained by non-companies

             (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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