(1) A meeting of debenture-holders shall not act for any purpose except the adjournment of the meeting unless there are present at least two debenture-holders.

(2) If within half-an-hour after the time appointed for the meeting a quorum of debenture-holders is not present, the meeting shall stand adjourned to the same day in the next week at the same time and place, or to such other day (not being less than seven or more than twenty-one days from the day from which the meeting is adjourned) and at such other time and place as the chairman may appoint.