Section 291 Investments and Securities Act

Section 291 of the Investments and Securities Act 2025 is about Cessation of contribution to sinking fund. It is under Part XVI (Issuance of Securities) of the Act. It provides as follows:

(1) Notwithstanding anything to the contrary contained in this Part, if at any time the trustees are satisfied that the sinking fund of any debt securities issued under the provisions of this Part is sufficient with further accumulations of interest, but without further payments of contributions, to enable the debt securities to be redeemed at the time fixed for its redemption, they shall inform the body accordingly, and the issuer shall be authorised in such event to suspend further payments of half-yearly or quarterly contributions to that sinking fund.

(2) The contributions to that sinking fund shall be recommenced if the trustees at any time inform the appropriate authority that they are no longer satisfied that the sinking fund without further accumulations of interest is sufficient for the redemption of the debt securities.