| Commentary

53 Reissue of debentures

| Commentary

53 Reissue of debentures

Where a company has redeemed debentures previously issued then unless either:

  1. 53.1

        express or implied provision to the contrary is contained in the company’s articles or in any contract made by the company or

  2. 53.2

        the company has, by passing a resolution to that effect or by some other act, manifested its intention that the debentures shall be cancelled,

the company may reissue the debentures either by reissuing the same debentures or by issuing new debentures in their place1. On reissue, the person entitled to the debentures has (and is deemed always to have

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