Malaysia legislation
Section 19
Section 19
(a)
constituting a charge on any or all of the assets of the company;
Labuan Financial Services and Securities 43
(b)
convertible from debentures into shares in the company;
or
(c)
as secured debentures.
(2)
The debt payable under any debenture, whether sealed or signed on behalf of the company, shall be a specialty debt of the company, and where the debenture is issued by a branch of a company, shall be located at that branch.
(3)
The Minister may make regulations—
(a)
restricting the right of a Labuan company or any particular class of Labuan companies to issue debentures which may be converted into shares; and
(b)
prescribing the terms and conditions or the event or events upon which conversion shall or may take place.
Trustee for debenture holders