Lm6,200,000 5!% Local Development Registered Stock 1979·83

L.N. 33 of 1983

LOCAL LOANS (REGISTERED STOCK AND SECURITIES)

ORDINANCE, 1959

CONVERSION OF STOCK

Directive by the Minister of Finance for the conversion of the

Lm6,200,000 5!% Local Development Registered Stock 1979·83

(first and second issues) and 1980·83 (first and second issues)

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 dec1ared the Lm6,200,000 5t% Local Development Re-

gistered Stock 1979-83 (first and second issues) and 1980-83 (first and

second issues), due for repayment on the 11th July, 1983, to be conver-

tible into registered stock to be issued under the provisions of the Ordi-

nance,

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

of the same Ordinance that, for the conversion of the Lm6,200,OOO

5t % Local Development Registered Stock 1979-83 (first and second

issues) and 1980-83 (first and second issues), a new 61-% Local Develop-

ment Registered (Conversion) Stock 1989 be created and issued as

fol1ows

(a) The stock shaH be issued at the price of Lm100 per cent

and shaH be allotted by application. The stock when fuHy paid shaH

be registered, Applications for the aHotment of stock for the present

holders of the 5t % Local Development Registered Stock 1979-83 (first

and second issues) and 1980-83 (first and second issues), shaH open at

9 a.m. on Monday, 11th July, 1983 and c10se at 12.00 noon the same

day,

(b) Applications from the general public for the remaining

balance of the 61 % Local Development Registered (Conversion) Stock

1989, wil1 be received at the Treasury between 9,00 a.m, on Monday,

11th July, 1983 and 12.00 noon on the same day, or ear1ier if the stock

is fuHy subscribed, at the discretion of the Accountant General.

stock shaH be

The sum of money to be raised by the

Sum of money

to be raised.

Lm6,200,000.

Interest shaH be payable in arrear half-year1y on the 11 th day

Rate of

interest and

of January and the 11th day of July in every year during the currency

dates of

of the stock. The first payment of Lm3.12,5 per Lm100 stock covering

payment.

the period from the 11th day of July, 1983 to the 10th day of January,

1984 shaH be made on the 11th day of January, 1984.

A half-year1y appropriation of not less than Lm92,397 out of

Rate of

contribution to

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

sinking fund.

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

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

year from the 11th day of July, 1983.

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

1st day of January, 1989 and the 31st day of December, 1989 (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-Taqsima tat·Tagħrif -

Kastilja -

Published by the Information Division -

Kastilja

Mitbu!!ħ

fl-Istamperija tal-Gvem -

Printed at the Government Printing Press'