863Charge in series of debenturesE+W+S+N.I.
(1)Where a series of debentures containing, or giving by reference to another instrument, any charge to the benefit of which debenture holders of that series are entitled pari passu is created by a company, it is for the purposes of section 860(1) sufficient if the required particulars, together with the deed containing the charge (or, if there is no such deed, one of the debentures of the series), are delivered to the registrar before the end of the period allowed for registration.
(2)The following are the required particulars—
(a)the total amount secured by the whole series, and
(b)the dates of the resolutions authorising the issue of the series and the date of the covering deed (if any) by which the series is created or defined, and
(c)a general description of the property charged, and
(d)the names of the trustees (if any) for the debenture holders.
(3)Particulars of the date and amount of each issue of debentures of a series of the kind mentioned in subsection (1) must be sent to the registrar for entry in the register of charges.
(4)Failure to comply with subsection (3) does not affect the validity of the debentures issued.
(5)Subsections (2) to (6) of section 860 apply for the purposes of this section as they apply for the purposes of that section, but as if references to the registration of a charge were references to the registration of a series of debentures.
Modifications etc. (not altering text)