COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 86 Rights of inspection of register of debenture holders and to copies of register and trust deed.

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COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 86

Rights of inspection of register of debenture holders and to copies of register and trust deed.

86.(1) Every register of holders of debentures of a company shall, except when
duly closed (but subject to such reasonable restrictions as the company may in
general meeting impose, so that not less than two hours in each day shall be
allowed for inspection), be open to the inspection of the registered holder of
any such debentures or any holder of shares in the company without fee, and of
any other person on payment of a fee of [five new pence] or such less sum as
may be prescribed by the company.

(2) Any such registered holder of debentures or holder of shares as aforesaid
or any other person may require a copy of the register of the holders of
debentures of the company or any part thereof [on payment of ten new pence, or
such less sum as may be prescribed by the company, for every hundred words or
fractional part thereof required to be copied].

(3) A copy of any trust deed for securing any issue of debentures shall be
forwarded to every holder of any such debentures at his request on payment in
the case of a printed trust deed of the sum of [twenty new pence] or such less
sum as may be prescribed by the company, or, where the trust deed has not been
printed [on payment of ten new pence, or such less sum as may be prescribed by
the company, for every hundred words or fractional part thereof required to be
copied].

(4) If inspection is refused, or a copy is refused or not forwarded,
the company and every officer of the company who is in default shall be liable
to a fine not exceeding five pounds, and further shall be liable to a default
fine of two pounds.

(5)Where a company is in default as aforesaid, the court may by order compel
an immediate inspection of the register or direct that the copies required
shall be sent to the person requiring them.

(6) For the purposes of this section, a register shall be deemed to be duly
closed if closed in accordance with provisions contained in the articles or in
the debentures or, in the case of debenture stock, in the stock certificates,
or in the trust deed or other document securing the debentures or debenture
stock, during such period or periods, not exceeding in the whole thirty days
in any year, as may be therein specified.

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Northern Irish Legislation

COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 86