Section 580 of The Companies Act No. 17 of 2015: Power of company to re-issue redeemed debentures
(1) If a company has redeemed debentures previously issued, then unless—
(a) provision to the contrary, express or implied, is contained in the company's articles or in any contract made by the company; or
(b) the company has, by passing a resolution to that effect or by some other act, manifested its intention that the debentures are to be cancelled, the company may re-issue the debentures, either by reissuing the same debentures or by issuing new debentures in their place.
(2) On a re-issue of redeemed debentures under subsection (1), the person entitled to the debentures has the same priorities as if the debentures had never been redeemed.
(3) The re-issue of a debenture, or the issue of another debenture in its place, under this section is to be treated as an issue of a new debenture for stamp duty purposes, but it is not to be so regarded for the purposes of any provision limiting the amount or number of debentures to be issued.
(4) If a debenture re-issued under this section appears to be duly stamped, a person who lends money on the security of the debenture may give the debenture in evidence in proceedings for enforcing the security without payment of the stamp duty or any penalty imposed in respect of it, unless the person had notice or, ought reasonably to have known, that the debenture was not duly stamped, in which case the company is liable to pay the proper stamp duty and penalty.
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