Incorporation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 September 2012 While drafting the Articles of asociation what privileges can be written for the Debenture
holders if they wish to acquire the Company.

Ajay Mishra

Ajay Mishra (Expert)
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14 October 2012 Hi

There is no specific format for debenture holders in AOA.

But you can use such clause:

If it is provided by any trust deed securing or otherwise in connection with any issue of debentures of the Company that any person or persons shall have power to nominate a Director of the Company then in the case of any and every such issue of debentures, the persons having such power may exercise such power, from time to time and appoint a Director accordingly. Any Director so appointed is herein referred to as a Debenture Director. A Debenture Director may be removed from office at any time by the person or persons in whom for the time being is vested the power under which he was appointed and another Director may be appointed in his place. A Debenture Director shall not be liable to retire by rotation, but he, shall be counted in determining the number of retiring Directors

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