Section 216 Companies and Allied Matters Act (CAMA) 2020
Section 2016 CAMA 2020 Company’s register of charges (1) Every company shall keep, at the registered office of the company, a register of charges and enter therein all charges specifically affecting property of the company and all floating charges on the undertaking or any property of the company, giving in each case a short description […]
Section 215 Companies and Allied Matters Act (CAMA) 2020
Section 215 CAMA 2020 Company to keep copies of instruments creating charges Every company shall cause a copy of every instrument creating any charge requiring registration under this Part to be kept at the registered office of the company, but, in the case of a series of uniform debentures, a copy of one debenture of […]
Section 214 Companies and Allied Matters Act (CAMA) 2020
Section 214 CAMA 2020 Restrictions on transferability of debentures (1) Except as expressly provided in the terms of any debenture, debentures shall be transferable without restriction by a written transfer in any usual or common form, or any other form which the directors of the company may approve, and that the transferee is entitled to […]
Section 213 Companies and Allied Matters Act (CAMA) 2020
Section 213 CAMA 2020 Liability of trustees for debenture holders (1) Subject to the provisions of this section, anything contained in a trust deed for securing an issue of debentures, or in any contract with the holders of debentures secured by a trust deed, is void if it would have the effect of exempting a […]
Section 212 Companies and Allied Matters Act (CAMA) 2020
Section 212 CAMA 2020 Disqualification for appointment as trustee of debenture trust deed (1) A person is not qualified for appointment as a trustee of a debenture trust deed if he is—(a) an officer or employee of the company which issues debentures covered by the trust deed or of a company in the same group […]
Section 211 Companies and Allied Matters Act (CAMA) 2020
Section 211 CAMA 2020 Trustees for debenture holders (1) Whether or not a debenture is secured by a charge over the company’s property, there may be created in relation to such debenture, a trust deed appointing trustees for the debenture holders. (2) It is the duty of such trustee to safeguard the rights of the […]
Section 210 Companies and Allied Matters Act (CAMA) 2020
Section 210 CAMA 2020 Contents of debenture covered by trust deed (1) Every debenture covered by a debenture trust deed shall state, either in the body or in a note forming part of the same document or endorsed therein— (a) the matters required to be stated in a debenture trust deed by section 209 (1) […]
Section 209 Companies and Allied Matters Act (CAMA) 2020
Section 209 CAMA 2020 Contents of debenture trust deed (1) Every debenture trust deed, whether required by section 208 or not, shall state—(a) the maximum sum which the company may raise by issuing debenturesof the same class ;(b) the maximum discount which may be allowed on the issue or reissue of the debentures, and the […]
Section 208 Companies and Allied Matters Act (CAMA) 2020
Section 208 CAMA 2020 Execution of debenture trust deed (1) Every company which offers debentures to the public for subscription or purchase shall, before issuing any of the debentures, execute a debenture trust deed in respect of them and procure the execution of the deed by the trustee for the debenture holders appointed by the […]
Section 207 Companies and Allied Matters Act (CAMA) 2020
Section 207 CAMA 2020 Preferential payment to debenture holders in certain cases (1) Where a receiver is appointed on behalf of the holders of any debenture of a registered company secured by a floating charge, or possession is taken by, or on behalf of those debenture holders of any property comprising of subject to the […]