906
Debentures—continued
contract to subscribe for, specific performance of, 603
definition of, 7, 44
discount, issued at a , 98, 172
sinking fund in respect of, 173
duty on, 356, 362, 382, 386
fixed charge, 197
floating charge, 197. And see Floating charge
creation of prior mortgages, 197
Scottish companies, not possible in case of, 310
interest, payment of, shown in accounts, 174
taxation of, 324
issue of redeemed, 363
loan, premium on, stamp duty on, 362
meaning of, 199
memorandum of satisfaction, lodgment with registrar, 204
mortgage or charge on company’s property, 194
‘naked debentures,’ 198
in Scottish companies, 310, 313
negotiable instrument, when may be a, 194, 198
perpetual, statutory provisions as to, 602
power of sale in debenture holders, 196
premium on loan, stamp duty on, 362
receiver appointed by debenture holders, 196, 205 et seq.
And see Receivers
redeeming and re-issue of, power for company, 363
register of, 204
registration of mortgages, 199 ef seq.
company’s register, 203
contents of, 203
copies of deeds to be kept at registered office, 203
inspection and copies, 203
omission of entries, 203
Somerset House register, 199 et seq
certificate of registrar, 202
contents of, 199 ef seq.
inspection of, 202
non-registration, effect of, 202
receiver, appointment of, 202
resolution to issue, form of, 163
scheme of reconstruction, allotted on a, 223
Scottish companies, in, 309 ef seq. And see Scottish companies
classes of, in Scotland, 310
common law of Scotland, at, 310
delivery to creditor, as to, 310
difference between, and in England, 309
floating charges, 310
heritage (e.g. land), 311
deed of trust, nature of, 311
registration of, 311
securities, how created, 311
moveables, security created over, 311
ships, as regards, 311
trust deeds by, 311
naked, 310
deed of trust regulates rights, 310
position of lender, 310
trustees. advantages of having, 310

INDEX