ACT 125

COMPANIES ACT 1965 (REVISED - 1973)

PART IV - SHARES, DEBENTURES AND CHARGES

DIVISION 4 - DEBENTURES

Section 79. Powers of trustee to apply to the Court for directions, etc.

(1) The trustee for the holder of debentures may apply to the Court— (a) for directions in relation to any matter arising in connection with the performance of the functions of the trustee; or (b) to determine any question in relation to the interests of the holders of debentures, and the Court may— (c) give such directions to the trustee as the Court deems fit; and (d) if satisfied that the determination of the question will be just and beneficial accede wholly or partially to any such application on such terms and conditions as the Court thinks fit or make such other order on the application as the Court thinks just. (2) The Court may on an application under this section order a meeting of all or any of the holders of debentures to be called to consider any matters in which they are concerned and to advise the trustee thereon and may give such ancillary or consequential directions as the Court thinks fit. (3) The meeting shall be held and conducted in such manner as the Court directs, under the chairmanship of a person nominated by the trustee or such other person as the meeting appoints.