(1)
Every company shall, within 60 days after the allotment of any of its debentures or after the registration of the transfer of any debentures, deliver to the registered holder thereof, the debenture or a certificate of the debenture stock under the common seal of the company (if the company has a common seal) or otherwise executed as a deed by the company.
(2)
If a debenture or debenture stock certificate is defaced, lost or destroyed, the company, at the request of the registered holder of the debenture, shall issue a certified copy of the debenture or renew the debenture stock certificate on payment of a fee as the company may determine and on such terms as to evidence and indemnity and the payment of the company’s out-of- pocket expenses of investigating evidence, as the company may reasonably require.
(3)
If default is made in complying with this section, the company and any officer of the company who is in default, is liable to such fine as the Commission shall specify in the regulation, and on application by any person entitled to have the debentures or debenture stock certificate delivered to him, the Court may order the company to deliver the debenture or debenture stock certificate and may require the company and any such officer to bear all the costs of and incidental to the application.