Section 126: Inscription of mortgages

126. Inscription of mortgages (1) Where a company has decided to issue debentures and to secure their payment by a mortgage or floating charge, the inscription of such mortgage or floating charge shall be valid where the first and last serial numbers of the said debentures are mentioned. (2) Subject to section 121 and to the Sixth Schedule, the appointment of a debenture holders’ representative, with power to require the inscription of a mortgage with an election of domicile and renewal or erasure of such inscription, and generally to take all measures for the protection of the rights of the debenture holders, shall be made in such manner as the company may at the time of the issuing of the said debentures determine.