MT
fM2,OOO,OOO 7!% Local Development Registered Stock 1981·83
Table of Provisions (6)
Statutory Text (6 Articles)
L.N. 51 of 1981
L OCAL 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 the
fM2,OOO,OOO 7!% Local Development Registered Stock 1981·83
IN exercise of the powers conferred by section 31 (a) of the Loca1
Loans (Registered Stock and Securities) Ordinance, 1959, the Minister
of Finance, Customs and People's Financial Investments has dec1ared
the tM2,000,000 7�% Loca1 Deve10pment Registered Stock 1981-83
due for repayment on the 21st August, 1981 to be convertible into
registered stock to be issued under the provisions of the Ordinance.
The Minister has also a uthorised in terms of sections 31 (b) and 32
of the same Ordinance that, for the conversion of the tM2,000,000
7!-% Local Development Registered Stock 1981-83 a new 6-!-% Local
Develo]YII1ent Registered (Conversion) Stock 1987-88 be created and
issued as follows
Mode o f
l. (a) The stock shall be issued at the price of tM 1 00 per cent
Issuing Stock.
and shall be alIotted by application. The stock when ful1y paid shall be
registered. Applications for the allotment of stock for the present
holders of the 7!-% Local Development Registered Stock 1981-83 shall
open at 9 a.m. on Monday, 15th June 1981 and c10se at 12.00 noon on
Friday, 3rd Ju1y, 1981.
(b) Applications from the general public for the remaining
balance of the 6;}: % Local Development Registered (Conversion) Stock
1987-88 wilI be received at the Treasury between 9.00 a.m. on Monday,
1 0th August, 1981 and 12.00 noon on Friday, 14th August, 1981, or
ear1ier if the stock is fully subscribed, at the discretion of the Account
ant General.
The sum of money to be
raised
by
the
stock
shall
be
tM2,000. 000
.
Interest shall be payable in arrear half-yearly on the 21st day
of February and the 21 st day of August in every year during the
currency of the stock. The first payment of tM3.1 2,5 per tMlOO stock
covering the period from the 21 st day of August, 1981 to the 20th day
of February, 1982 shall De made on the 21st day of February, 1982.
A half-yeady appropriation of not less than fM20.000 out of
the general revenue and assets of the Government of Malta shall 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 21 st day of August, 1981.
The stock shaH be redeemed at par on such date between the
1st day of January. 1987 and the 31st day of December, 1988 (both
dates inclusive), as shaB be determined by the Accountant General and
notified 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.
Divi.ion
Ka.tilitl
Ippubblikat mit.Taqsima tat-Tagħrif - Kastilja
Published by the Information
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Mitbll4lħ o-u.e.s.
Stampou-i)a tal·Gvem
0.1 the C.O.S,
Prlnted
Go.'ernment Printing Press
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PrIc, 21
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