(1) A public company shall, before issuing any of its debentures, execute a trust deed in respect of the debentures and procure the execution thereof by a trustee.
(2) A trust deed shall not cover more than one class of debentures, whether or not the trust deed is required by this section to be executed.
(3) Where a trust deed is required by this section to be executed in respect of any debentures issued by a public company but a trust deed has not been executed, the court may, on the application of a holder of any debenture issued by the company—
(a) order the company to execute a trust deed in respect of those debentures;
(b) direct that a person nominated by the court be appointed a trustee of the trust deed; and
(c) give such consequential directions as the court thinks fit regarding the contents of the trust deed and its execution by the trustee.