Where any commission, allowance or discount has been paid or made either directly or indirectly by a company to a person in consideration of his—
subscribing or agreeing to subscribe, whether absolutely or conditionally, for debentures in a company, or
procuring or agreeing to procure subscriptions, whether absolute or conditional, for such debentures,
the particulars required to be sent for registration under section 860 shall include particulars as to the amount or rate per cent. of the commission, discount or allowance so paid or made.
The deposit of debentures as security for a debt of the company is not, for the purposes of this section, treated as the issue of debentures at a discount.
Failure to comply with this section does not affect the validity of the debentures issued.