https://www.taxtmi.com/acts?id=12427 A company that redeems debentures retains the right to keep them alive for re-issue unless the articles, issue conditions, contract, or an expressed corporate act indicate cancellation. Re-issue-including transfer from a nominee-restores the same rights and priorities as if never redeemed. Deposited debentures used as security are not deemed redeemed merely because the company's account ceases to be in debit. Re-issued debentures are treated as new issues for stamp duty but not for statutory debenture limits; lenders may rely on apparently duly stamped re-issues absent notice, while the company is liable for unpaid duty and penalties. en-us Mon, 09 May 2011 13:05:59 +0530 Mon, 09 May 2011 13:05:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12427 A company that redeems debentures retains the right to keep them alive for re-issue unless the articles, issue conditions, contract, or an expressed corporate act indicate cancellation. Re-issue-including transfer from a nominee-restores the same rights and priorities as if never redeemed. Deposited debentures used as security are not deemed redeemed merely because the company's account ceases to be in debit. Re-issued debentures are treated as new issues for stamp duty but not for statutory debenture limits; lenders may rely on apparently duly stamped re-issues absent notice, while the company is liable for unpaid duty and penalties. Act-Rules Companies Law Mon, 09 May 2011 13:05:59 +0530 https://www.taxtmi.com/acts?id=12427