the lmSOO,OOO 5i% Local Development Registered Stock 1985

L.N. 36 of 1985

LOCAL LOANS (R EGISTERED STOCK AND SECURITIES)

ORDINANCE, 1959

CONVERSION OF STOCK

Directive by the Minister of Finance and CustODU for tbe collversioD of

the lmSOO,OOO 5i% Local Development Registered Stock 1985

(S«ood Issue)

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

Loans (Registered Stock and Securities) Ordinance, 1959, the M inister of

Finance and Customs has declared the L m500,OOO 5t% Local Develop-

ment Registered Stock 1985 (Second Issue). due for repayment on the

31st October, 1985, to be converted in to registered stock to be iSliued

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 L mSOO,OOO 5t%

Local Development Registered Slock 1985 ($eeond Issue) a new 6t%

L ocal Development Registered (Conversion) Stock 1991 ($eeond Issue)

be created and issued as follows

The stock shall be issued at the price of L ml OO per cent and

shall be allotted by application. The stock when fully paid shal1 be

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

of the 51 % Local De\'eJopment Registered Stock: [985 (Second Issue)

shal1 open at 9 a.m. on T uesday, 15th October, 1985 a nd close at noon

on the same day.

1. The sum of money to be raised by the stock shall be Lm500.000.

Is-somma la' flus li ghaodha lingabar bl·isrock tlrun ta' Somma. I1· n~.

Lm500,OOO

Interest shal1 be payable in a rrear half·yearly on the 30th day of

Apri l and the 31st day of October in every year during the currency of

the stock. The first payment of Lm3.J2,5 per LmlOO stock covering the

peri od from the 31st day of October, 1985 to the 29th day of A pril. 1986

sball be made on the 29th day of April, 1986.

A half·yearly appropriation of not less than Lm 11 ,500 out of

the general revenue and assets of the Government of Malta shall be made

as a contribution to the sinking fund establ i~hcd for the purpose of

redeeming the stock. The first contribution sha11 be made within one

year from lhe 31st day of October, 1985.

S. The stock shall be redeemed at par on such date between tbe

1st day of January. 1991 and lhe 31st day of December, 1991 (both dates

inclusive). as shall be determined by the A ccountant General and noti-

fied in the Gazette. Stock shall be redeemed only on the surrender of the

stock certificate issued.

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Pru:z le -

L-isrock gbandu jig; mifdi b'parila f'dik id-<lata hejn 1·1 ta'

Jannar, 1991 u 1·31 la' Ditembru, 1991 (ii:·ttwg da li maglldudin), kif jigi

stabbilil m ill·A ccountant General u aviat fil-Gazzetta. L-istock jig; mifdi

hiss rnal·konsenja ta6-Certifikat ta' I·isrock mahrug.