INSCRIBED STOCK (ISSUE AND RENEWALS) ACT 1912 - SECT 6 No increase of amount of loan
INSCRIBED STOCK (ISSUE AND RENEWALS) ACT 1912 - SECT 6
No increase of amount of loan6 No increase of amount of loan
Nothing in this Act shall authorise an increase in the authorised amount of
any loan:
Provided that where, in issuing new debentures or stock for conversion or
renewal purposes, it is necessary to issue such debentures or stock at or
below par, an additional amount of such debentures or stock may be issued so
as to provide for the full amount required for such conversion or renewal.