LOCAL LOANS (REGISTERED STOCK AND SECURITIES) ACT

Section 17: Interest coupons.

1946Section 17 of 43Federal Republic of Nigeria

(1) There shall be attached to every bearer bond coupons for the payment of interest which falls due thereunder:
Provided that the number of coupons attached to a bearer bond on the date of its issue to any person may cover a period shorter than that of the currency of the bond if, in the opinion of the Central Bank, it is inconvenient or inexpedient to attach to the bond coupons sufficient in number to cover the entirety of the period of the currency of the bond.
(2) If the number of coupons attached to any bearer bond on the date of its issue to any person is insufficient to cover all payments of interest due on the bond after that date, the holder of that bond shall be entitled to a renewal thereof at the prescribed time and in the prescribed manner and circumstances.

Cite this section

Section 17, LOCAL LOANS (REGISTERED STOCK AND SECURITIES) ACT (1946).

https://repo.podus.ai/laws/local-loans-registered-stock-and-securities-act/section/17/