Right of deben- 
ture holders and 
shareholders to 
inspect register 
of debenture 
holders and to 
have copies of 
trust deed. 
Perpetual 
debentures. 
z 
=. 
SECRETARIAL PRACTICE 
Special Provisions as to Debentures. 
73.—(1) Every register of holders of debentures of a company 
shall, except when duly closed, be open to the inspection of the 
registered holder of any such debentures, and of any holder of 
shares in the company, but subject to such reasonable restrictions 
as the company may in general meeting impose, so that not less 
than two hours in each day shall be allowed for inspection. 
For the purposes of this subsection, a register shall be deemed 
to be duly closed if closed in accordance with provisions contained 
in the articles or in the debentures or, in the case of debenture stock, 
in the stock certificates, or in the trust deed or other document 
securing the debentures or debenture stock, during such period or 
periods, not exceeding in the whole thirty days in any year, as 
may be therein specified. 
(2) Every registered holder of debentures and every holder of 
shares in a company may require a copy of the register of the holders 
of debentures of the company or any part thereof on payment of 
sixpence for every hundred words required to be copied. 
(3) A copy of any trust deed for securing any issue of debentures 
shall be forwarded to every holder of any such debentures at his 
request on payment in the case of a printed trust deed of the sum 
of one shilling or such less sum as may be prescribed by the company, 
or, where the trust deed has not been printed, on payment of six- 
pence for every hundred words required to be copied. 
(4) Ifinspection is refused, or a copy is refused or not forwarded, 
the company and every officer of the company who is in default 
shall be liable to a fine not exceeding five pounds, and further 
shall be liable to a default fine of two pounds. 
(5) Where a company is in default as aforesaid, the court may 
by order compel an immediate inspection of the register or direct 
that the copies required shall be sent to the person requiring them. 
74. A condition contained in any debentures or in any deed for 
securing any debentures, whether issued or executed before or 
after the commencement of this Act, shall not be invalid by reason 
only that the debentures are thereby made irredeemable or redeem- 
able only on the happening of a contingency, however remote, or 
on the expiration of a period, however long, any rule of equity to 
the contrary notwithstanding. 
Power to re- 75.—(1) Where either before or after the commencement of this 
igh Dadesmed Act a company has redeemed any debentures previously issued, 
certain cases. then— . 
(4) unless any provision to the contrary, whether express or 
implied, is contained in the articles or in any contract 
entered into by the company; or 
unless the company has, by passing a resolution to that 
effect or by some other act, manifested its intention that 
the debentures shall be cancelled.