Amendment status not verified — confirm the current text below against the official source.
Notwithstanding anything in section 159 or 160, the Commissioner may in any case arising under either of those sections— (1) issue a renewed debenture upon receiving such indemnity in favour of the Corporation and the Commissioner as he shall think fit against the claims of all persons claiming under the original debenture, or (2) refuse to issue a renewed debenture unless such indemnity is given.