A company limited by shares may issue debentures which are, or at the option of the company are, liable to be redeemed.
Companies and Allied Matters Act 2020 · Part B · Chapter 9
Section 199 Redeemable debentures
Cite as: Companies and Allied Matters Act 2020, section 199
What this section means
From the guide: Debentures, floating charges and debenture trust deeds under CAMA 2020
- A company limited by shares can issue redeemable debentures and, unless the articles or a contrary act show cancellation, can reissue redeemed debentures with the same priority (sections 199 and 200).
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Source: Companies and Allied Matters Act 2020 (Act No. 3 of 2020), Official Gazette No. 124, Lagos, 10 August 2020. General information, not legal advice.