Where a company has deposited any of its debentures to secure advances from time to time on current account or otherwise, the debentures are not treated as redeemed by reason only of the company's account having ceased to be in debit while the debentures remained so deposited.
Section 753: Deposit of debentures to secure advances
Companies Act 2006 · 2006 c. 46View on legislation.gov.uk
Part 19: Debentures
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