Companies Act 2014 section 777

Application of sections 768 to 776 to debentures

Section 777 extends the restrictions and rules that apply to shares under Sections 768 to 776 so that they equally apply to debentures.

• All restrictions that the Director of Corporate Enforcement can impose on shares also apply to debentures
• Debentures are treated in the same way as shares for the purposes of investigation powers under Sections 768 to 776
• Any offences relating to shares subject to restrictions under these sections equally apply where debentures are involved
• This ensures that debenture holders cannot avoid regulatory scrutiny that would otherwise apply to shareholders