Section 282 Investments and Securities Act

Section 282 of the Investments and Securities Act 2025 is about Appropriation and payment of interest. It is under Part XVI (Issuance of Securities) of the Act. It provides as follows:

(1) Where any interest is payable in respect of securities, the issuer shall appropriate a sum sufficient to meet all interest payable on the date prescribed.

(2) The interest due on securities shall be payable on the dates specified in the issuing documents or trust deed.

(3) Save as otherwise provided in the issuing documents, where any interest has become payable on any date, interest on that amount shall, after that date, be paid or payable by a body or any other person responsible for the default in payment to any person.