fMl,OOO,OOO 6% Local Development Registered Stock 1975·82

L.N. 7 of 1982

LOCAL LOANS (REGISTERED STOCK AND SECURITIES)

ORDINANCE, 1959

CONVERSION OF STOCK

Directive by the Minister of Finance for the conversion of the

fMl,OOO,OOO 6% Local Development Registered Stock 1975·82

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

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

of Finance has declared the fMl,OOO,OOO 6% Local Development Regis-

tered Stock 1975-82 due for repayment on the 28th February, 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 fMl,OOO,OOO 6 %

Local Development Registered Stock 1975-82 a new 6t% Local Develop-

ment Registered (Conversion) Stock 1987 be created and issued as

fol1ows

(a) The stock shalI be issued at the price of fMIOO per cent Mode of

and shalI be al10tted by application. The stock when fully paid shalI be issuing stock.

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

of the 6 % Local Development Rcgistcred Stod: 1975-82 shalI open at

9 a.m. on Monday, Jst February, 1982 and close at 4.00 p.m. on Friday,

12th February, 1982.

(b) Applications from the general public for the remaining

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

1987. wiIl be received at the Trea sury between 9.00 a.m. on Monday,

15th February, 1982 and L!·.OO p.m. on Friday 19th February, 1982, or

earlier if the stock is fully subscribed, at the discretion of the Accountant

General.

The sum

of money to be raised by the stock shalI be Sum of money

f M 1,000.000.

Interest shall be payable in arrear half-yearIy on the 28th day

of February and the 28th day of August in every year during the

currency of the stock. The first payment of fM3.12,5 per f M 100 stock

covering the period from the 28th day of February, 1982 to the 27th day

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

A half-yearly appropriation of not less than fM5,000 out of Rate of

the general revenue and assets of the Government of Malta shalI be contribution to

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

of redeeming the stock. The first contribution shl'l.H be made within one

year from the 28th day of February, 1982.

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

1st day ofJanuary, 1987 and the 31st day of December, 1987 (both

dates inclusive, as shall be determined by the Accountant General and

notified in the Gazette. Stock shall be redeemed only on the surrender

of the stock certificate issued.

Ippubblikat mit-Taqaima tat-Tagħrif -

Published by the Information Division -

Kastilja

Kastilja -

Mitbugħ I1-Istamperija tal-Gvern -

Printed at the Government Printing Press

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