sec.41Debentures, bonds or inscribed stock may include alternative remedies

### sec.41 Debentures, bonds or inscribed stock may include alternative remedies A debenture, bond or inscribed stock may include a provision (an alternative provision ) that applies if a statutory body does not fulfil an obligation under the debenture, bond or inscribed stock, including, for example, provisions about the appointment of a receiver of the body and the receiver’s functions, powers and remuneration. The alternative provision has effect under its terms in place of sections 37 to 40 , or the provisions of another Act that provide a remedy if the statutory body does not fulfil the obligation. s 41 sub 1996 No. 54 s 8 (sec.41-ssec.1) A debenture, bond or inscribed stock may include a provision (an alternative provision ) that applies if a statutory body does not fulfil an obligation under the debenture, bond or inscribed stock, including, for example, provisions about the appointment of a receiver of the body and the receiver’s functions, powers and remuneration. (sec.41-ssec.2) The alternative provision has effect under its terms in place of sections 37 to 40 , or the provisions of another Act that provide a remedy if the statutory body does not fulfil the obligation.