Section 174
Power to re-issue redeemed debentures
ActIn forceProvision 174 of 768
Section 174
(a)
provided otherwise, either expressly or impliedly in the constitution or in any contract made by the company; or
(b)
the company has manifested its intention that the debentures shall be cancelled by passing a resolution to that effect or by some other act.
(2)
If redeemed debentures are re-issued, the person entitled to the debentures shall have and shall be deemed always to have the same priorities as if the debentures have never been redeemed.