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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.
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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