Part 6 — Management and Administration Division 1 Membership
123 Debentures and Floating Charges Validity of perpetual debentures
securing any debentures, is not, notwithstanding any rule of equity
to the contrary, invalid by reason only that thereby the debentures
are made irredeemable or redeemable only on the happening of a
contingency, however remote, or on the expiration of a period,
however long.
RSA 1980 cC-20 s123