The Companies and Allied Matters Act allows for registered companies under the Act with the Corporate Affairs Commission (CAC) to mortgage their properties by way of creation of debentures over the company's assets. Section 166 of the Act states that a company may borrow money for the purpose of its business or objects and many mortgage or charge its undertaking, property and uncalled capital and issued debentures, debentures stocks and other securities for any debt, liability or obligation of the company. "Property" in the section includes land or any interest in land which the company has. The provisions of part of vii of the Act regulates the creation of securities by way of *debenturing* the assets of a registered company.