6% Local Development Registered Stock 1974-81

L.N. 105 of 1981

LOCAL LOANS (REGISTERED STOCK AND SECURITIES)

ORIDINANCE, 1959

CONVERSION OF STOCK

Directive by the Minister of Finance, Customs and

People's Financial Investments for the conversion of the

fM1,670,000

6% Local Development Registered Stock 1974-81

IN exercise of the powers confelTed by section 31 (a) of the Loca1

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

of Finance, Customs and People's F inancial Investments has declared

the f M 1,670,000 6%

Loca1 Deve10pment Registered Stock 1974-81

due for repayment on the 28th November, 1981 to be convertib1e into

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

The Minister has a1so authorised in terms of sections 31 (b) and 32

of the same Ordinance that, for the conversion of the fM1.670.000

6 % Loca1 Deve10pment Registered Stock 1974-81 a new 6!- % Loca1

Deve10pment Registered (Conversion) Stock 1988 be created and issued

as follows

(a) The stock shall be issued at the price of fM100 per cent Mode of

and shall be allotted by application. The stock when fully paid shall be

registered. Applications for the allotment of stock for the present ho1ders

of the 6% Loca1 Deve10pment Registered Stock 1974-81 shall open at

9 a .m. on Monday, 12th October. 1 981 �1nd close at 4.00 p.m. on Friday,

23rd October, 1981.

(b) Applications from the general public for the remaining

ba1ance of the 6t % Local Development Registered (Conversion) Stock

1988 will be r e c e i v e d at the Treasury between 9.00 a.m. on Monday,

16th November, 1981 and 4. 00 p.m. on Friday, 20 th November, 1981 ,

01" earlier if the stock is fully subscribed, at the discretion of the

Accountant General.

T he sum

shall be Sum of money

of money

to

be

raised by the

stock

to be raised.

fM1 ,670 .0 00.

Interest shall be payab1e in arrear half -yearly on the 28th day

Rate of

of May and the 28th day of November in every year during the currency

interest and

dates of

of the stock. The first payment of fM3.l2.5 per fM100 stock covering

payment.

the period from the 28th day of November. 1981 to the 27 th day of May.

1982 shall be made on the 28th day of May, 1982.

A half-yearly appropriation of not 1ess than fM8,350 out of

Rate of

the general revenue and assets of the Govemment of Malta shall be

contribution

sil1king fund.

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 2 8 t h day of November, 1981.

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

1st day of January, 1988 and the 31st day of December, 1988 (both

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

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

the stock certificate issued.

Ippubblikat mit-Taqsima t.t"Tagħrif

Kastilja

Published by lhe In/ormation

Kastilja

Divi5ion

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Mitj:mgħ fl-Istamperija tal·Gvern

Printed at

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Ili.

Govemmem

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