Section 17: Replacement of certificates

17. Replacement of certificates (1) On any subdivision of a debenture or debenture stock or where any certificate is worn out or defaced, then on production of the certificate to continued on page C6 – 7 C6 – 6 (1) [Issue 9] Revised Laws of Mauritius the Board, the Board may order the certificate to be cancelled and may issue a new certificate or new certificates upon payment of a fee not exceeding one rupee and 50 cents per certificate. (2) Where a certificate of a person is lost or destroyed before it has been paid off, a new certificate may be issued to that person where— (a) he proves to the satisfaction of the Board that the certificate has in fact been lost or destroyed; (b) he gives security to the satisfaction of the Board for indemnifying the Board for any loss which the Board may incur; (c) he pays a fee not exceeding one rupee and 50 cents for each certificate; (d) he advertises the loss or destruction of his certificate. (3) Where a debenture or debenture stock of a person which is lost or destroyed becomes overdue, the Board may pay off the money due on the debenture or debenture stock to that person if he gives security to the satisfaction of the Board for indemnifying the Board for any loss which the Board may incur. (4) The new debenture stock shall bear the same interest and be subject to the same rules as the original debenture or debenture stock.