Section 122

Register of debenture-holders.—(1) Every company shall keep a register of its debenture-holders and any contravention or default in complying with requirement of this section shall be an offence punishable under this Act.

(2) There must be entered in the register such particulars of each debenture-holder as may be specified.

(3) [1][Omitted].

(4) A person guilty of an offence under this section shall be liable to a penalty of level 1 on the standard scale.

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[1] Omitted through Companies Amendment Act, 2020 dated 26-08-2020. Before omitted it was:

“(3) This section shall not apply with respect to debentures which, ex facie, are payable to the bearer thereof.”