!M500,000 5!% Local Development Registered (Conversion) Stock

L.N. 82 of 1980

LOCAL LOANS (REGISTERED STOCK AND SECURITIES)

ORDINANCE, 1959

CONVERSION OF STOCK

Directive by the Minister of Finance, Customs and

People's Financial Investments for the conversion of 4he

!M500,000 5!% Local Development Registered (Conversion) Stock

1979·80

IN exercise of the powers conferred by section 31 (a) of the Local

Loans (Registered Stock and Securities) Ordinance, 1959 , the Minister

of Finance, Customs and People's Financial Investments has declared

the fM500,000 5-!-% Local Development Registered (Conversion) Stock

1979-80 due for repayment on the 30th October 1980 to be convertible

into registered stock to be issued under the provisions of the Ordinance.

The Minister has also authorised in terms of sections 31 (b) and 32

of the same Ordinance that, for the conversion of the fM500,000

5-!-% Local Development Registered (Conversion) Stock 1979-80 a new

5-!-% Local Deve10pment Registered (Conversion) Stock 1985(II) be

created and issued as fol1ows

l. The stock shal1 be issued at the price of f M 100 per cent

and shaH be aHotted by application. The stock when ful1y paid shaH be

registered. Applications for the allotment of stock for the present holders

of the 5-!-% Local Deve10pment Registered (Conversion) Stock 1979-80

shaH open at 9 a.m. on Monday 6th October 1980 and close at 12.00

noon on the same day, or ear1ier if the stock is fully subscribed, at the

discretion of the Accountant General.

L-istock jiġi maħruġ bil-prezz ta' f M 100 fil-mija u jingħata

fuq applikazzjoni. Meta jitħallas għal kollox l-istock jiġi reġistrat. Ap-

plikazzjonijiet għall-għoti ta' l-istock għal dawk li diġa għandhom 5t%

Stock Lokali Reġistrat (Bdil) għall-Iżvilupp 1979-80 jiftħu fid-9 ta' fil-

għodu, it-Tnejn, is-6 ta' Ottubru, 1980 u jagħlqu f'nofs in-nhar l-istess

jum, jew qabel jekk l-stock jittieħed kollu, fid-diskrezzjoni ta' l-Account-

ant General.

The sum of money

to

be

raised

by

the

stock

shall

be

fM500,000.

Interest shall be payable in arrear half-year1y on the 30th day

of April and the 31st day of October in every year during the currency

of the stock. The first payment of fM2.75,0 per f M 1 00 stock covering

the period from the 31st day of October 1980 to the 30th day of April

1981 shall be made on the 30th day of April , 1981.

A half-year1y appropriation of not less than fMll,500 out of

the general revenue and assets of the Government of Malta shaH be

made as a contribution to the sinking fund established for the purpose

of redeeming the stock. The first contribution shall be made within one

year from the 31st day of October 1980.

The stock shaH be redeemed at par on such date between the

1st day of January and the 31st day of December 1985 (both dates

inclusive), as shaH be determined by the Accountant General and noti­

fied in the Gazette. Stock shaH be redeemed only on the surrender of the

stock certificate issued.

All payments of interests made in respect of this stock shaH be

exempt from stamp duty.

ta' l-Informazzjoni

Ippubblikat

mid-Dipartiment

Published

by

the

Depar/ment

of

IlIformation

-

Stam p at fl-U.C.S. - Stamperija tal-Gvern

l'rinted

at

the

C.O.S.

Govemmellt

Printing Press

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