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COMPANIES CLAUSES ACT 1863 - SECT 25

Payment of arrears of interest may be enforced by appointment of receiver.

25. If within thirty days after the interest on any such debenture stock is
payable the same is not paid, any one or more of the holders of the debenture
stock holding, individually or collectively, the sum in nominal amount thereof
prescribed in the special Act, and if no sum is prescribed, then a sum equal
to one tenth of the aggregate amount which the company is for the time being
authorized to raise by mortgage, by bond, and by debenture stock, or the sum
of ten thousand pounds, whichever of the two last-mentioned sums is the
smaller sum, may (without prejudice to the right to sue in any court of
competent jurisdiction for the interest in arrear) require the appointment
in... Ireland of a receiver....

© 1863 Crown Copyright

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