95. Perpetual debentures

Question 1

95. Perpetual debentures

Answer 1

General overview
[95.01] Section 95 provides that notwithstanding any rule of law or equity to the contrary, a debenture deed shall be valid even if it is irredeemable, or redeemable upon a contingency that is remote or on the expiration of a long period of time. However, the court has powers under s 100 to order the enforcement of any debentures that are irredeemable or redeemable subject to a contingency.