Register of debenture holders

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This topic contains 1 reply, has 2 voices, and was last updated by Avatar of MikeLittle MikeLittle 1 year ago. This post has been viewed 21 times

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  • November 14, 2012 at 1:48 pm #55313
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    thomas85
    Participant

    In the BPP F4 study guide for exams 2012, Chapter 10 on joint stock companies states that there is no statutory compulsion for companies with debentures issued to keep a register of debentureholders. CHapter 13 on loan and borrowing capital states that a company MUST maintain a register of all debenture holders. This seems to be inconsistent. So: Is there a compulsion to have this register of debenture holders or isn’t there? Thanks.

    November 14, 2012 at 6:04 pm #107449
    Avatar of MikeLittle
    MikeLittle
    Moderator

    If it’s a one-off debenture ( for example in favour of a lending bank ) then there’s no need to keep a register of debenture holders. If the debenture is issued to a number of debenture holders, then clearly the company does need to keep a register.

    But, hey! Why are you asking me to explain a query you have with BPP material? Why not ask them?

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