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<h1>Perpetual debentures: clauses making debentures irredeemable or redeemable only on remote contingencies remain valid under law.</h1> Conditions in debentures or deeds securing debentures that make them irredeemable or redeemable only on the happening of a contingency, however remote, or after a very long period are not invalid solely for that reason; this validation applies to instruments issued or executed before or after the statute's commencement and permits perpetual debentures and contingency linked redemption terms to be effective.