Section 119
of International Business Companies Order, 2000
Section 119
(1)
An IBC shall cause to be endorsed on every debenture forming one of a series of debentures, or certificate of debenture stock, which is issued by the company and the payment of which is secured by a charge so registered –
(a)
a copy of the certificate of filing under section 118(2); or
(b)
a statement that filing has been effected and the date of filing.
(2)
Subsection (1) shall not apply to any debenture or certificate of debenture stock issued by an IBC before the charge was filed.
(3)
Every person who knowingly and wilfully authorises or permits the delivery of any debenture or certificate of debenture stock which is not endorsed as required by this section is guilty of an offence and liable on conviction to a fine not exceeding ten thousand dollars.
Filing of satisfaction and release of property from charge.