Section 278 Investments and Securities Act

Section 278 of the Investments and Securities Act 2025 is about Promissory notes. It is under Part XVI (Issuance of Securities) of the Act. It provides as follows:

(1) Every promissory note shall be signed by the issuer and shall, when issued, bind the relevant body to pay the principal sum mentioned in that note and the interest on it in accordance with the provisions of this Part at the rate and on the dates specified under section 269 of this Act or under an option to redeem the note reserved in the directives.

(2) Promissory notes shall be issued in such denominations as the issue may, with the approval of the approving authority of the body, direct.