Debenture - Law Dictionary Search Results

Debentures and shares

Debentures and shares, 'share' has been defined in, s. 2(46) of the Companies Act, 1956 mean a share in

any bank or financial institution or any consortium or group of banks or financial institutions and includes, (i) debenture trustee appointed by any bank or financial institution; or (ii) securitisation company or recon-struction company; or (iii) any

Preferential payments

(b) of the Companies Act, 1929, these debts are to have priority over the claims of holders of debentures or debenture stock under any floating charge created by a company. The debts are a first charge on

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Winding-up

S. 264 provides for preferential payments and (if the company is registered in England) postpones the claims of debenture holders under any floating charge created by the company, but only so far as the assets are insufficient

Receiver

801; Morgan v. Hart, (1914) 2 KB 183; R. S. C. 1883, Ord. L., r. 15A. As to debenture holders, see Comp. Act, 1929, ss. 86, 308-310. In the administration of estates, under the Lunacy Acts, 1890,

Prospectus

prospectus, notice, circular, advertisement, or other invitation offering to the public for subscription or purchase any shares or debentures of a company. By s. 35 of the Act every prospectus issued by or on behalf of a

Scrip

Scrip, a certificate or schedule; also evidence of the right to obtain shares or debentures in a limited company, sometimes called 'scrip-certificate,' generally part paid and exchangeable for the certificate of share or

Manager

of a business at the instance of a mortgagee, see Coote on Mortgages. As to managers appointed by debenture holders, see (English) Companies Act, 1929, s. 86, and Part VI. Of that Act relating to receivers and

Goods

Act, 1948 s. 2 (d)] Goods includes all materials, commodities and articles. [Constitution of India, Art. 366(12)] The debentures, would not come within the purview of the definition of goods as it is simply an instrument of

Debt security sterling

which the principal, interest and subscription moneys are payable solely in sterling, and 'debt security' includes bonds, notes, debentures and debenture stock, Banking Act, 1987 (Exempt Transactions) Regulations 1988, reg. 1(2) (UK) Halsbury's Laws of England 3(1),

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