fM3,215,OOO 5t% Local Development Registered Stock 1978-82

L-N. 39 of 1982

LOCAL LOANS (REGISTERED STOCK AND SECURITIES)

ORDINANCE, 1959

CONVERSION OF STOCK

Directive by the Minister of Finance for the conversion of the

fM3,215,OOO 5t% Local Development Registered Stock 1978-82

(first, second and third issues)

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

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

of Finance has dec1ared the f:M3,215,OOO 51% Local Development Re-

gistered Stock 1978-82 (first, second and third issues) due for repayment

on the 30th September, 1982, 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 f:M3,215.000 51%

Local Development Registercd Stock 1978-82 (first, second and third

issues) a new 6i% Local Development Registered (Conversion) Stock

1987/88 (Second Issue) be created and issued as follows

(a) The stock shall be issued at the price of .f M 100 per cent Mode of

and shall be aUotted by application, The stock when fully paid shall be issuing stock.

registered. Applications for the al10tment of stock for the present holders

of the 51% Local DeveloQment Registered Stock 1978-82 (first, second

and third issues) shall open at 9 a,m. on Monday, 5th July, 1982 and

c10se at 12.00 noon on Friday, 30th July, 1982.

(b) Applications from the general public for the remaining

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

1987! 88 (second issue), wi1l be received at the Treasury between 9.00

a.m. on Monday, 13th September, 1982 and 12.00 noon on Friday, 24th

September, 1982, or earlier if the stock is fully subscribed, at the discre-

tion of the Accountant General.

The sum of money to be raised by the stock shall be Sum of money

.fM3,215,OOO.

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

interest and

of March and the 30th day of September in every year during the cur-

dates of

rency of the stock. The first payment of f:M3.l8,7 per f:Ml00 stock

payment.

covering the period from the 30th day of September, 1982 to the 29th

day of March, 1983 shall be made on the 30th day of March, 1983.

A half-yearly appropriation of not less than .f M 3 l ,200 out of Rate of

the general revenue and assets of the Government of Malta shall be ~nt.nlmtion to

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

of redeeming the stock. The first co.ntribution sha11 be made within Qne

year from the 30th day of September, 1982,

.

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

1st daY9f January, 1987 and the 31st day of December, 1988 (both

dates inclusive), asshal1 be determ1ned by the Accountant General and

notified in the Gazette. Stock shall 1:>e redeemed only on the surrender

of the stock certificate issued.

Ippubblikat mit.Taqġna tat-Taaħrif - Kastilja - Publi,1uJd by the lnfontldtion DWI,'on -

K,uttlj ..

Mltbl1.!I f1.I_l'et!ja tal.Gvern - Print.t1 III th. Goventm.nt Printin, 1're,.