COMPANIES ACT 1963 – SECT 96 Saving of rights of certain mortgagees in case of re-issued debentures.

96.—Where any debentures which have been redeemed before the operative date are re-issued on or subsequently to that date, the re-issue of the debentures shall not prejudice and shall be deemed never to have prejudiced any right or priority which any person would have had under or by virtue of any mortgage or charge created before the operative date, if section 104 of the Companies (Consolidation) Act, 1908, had been enacted in this Act instead of section 95.