37 tal-1986
Statutory Text (5 Articles)
£..N, 37 of 1986
LOCAL LOANS (REGISTERED STOCK AND SECURmES)
ORDINANCE, 1'5'
CONVERSION OF S"TOCX
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~ by lk MIJIWer of Fw.-e qcI C
for the coayn'lioa of die L.5,500,1OO 6% Local Denlopmeal
R't.irt ' " Stock 19106
IN uercise of the powen conferred by !le(:lion 31 (a) of lIIe Local
Loan! (R.epslere<i Stock and Securilies) Ordinance, 1959, the Minister
of Finance and Customs Itas declared tlte Lm5,!iOO,OOO 6% Local ~
" 86.
lopment Re gistered Stock due for lq)IIyment on the 5tb September,
to be con vertibl: into registered stock 10 be issllCd under tbe provisions
of the Ordinance.
The Minister has abo authorised in tenns of scctiODS 31 (b) and 32
of the same OrdiuaQoc tb.t. for the conversion of the Lm5JOO,OOO 6%
Local Develo~1 RegiSleTed Stock 1986, Local Development Regis-
ter«! (Conversion) Stock be created and iSll ued 85 follows:-
t. The Stock shall be iUlled at the price of Lm lOO per cent and
shall be allotted by application. Tlte stock when fully paid shall be
rcgiiJlered. A pplic.alions for .llotment of $lOCk shall Dpen on Monday.
21st July, 1986 81 9.00 a.m , and sh811 close on Friday, 1st August, 1986
at 12.00 noon or at the lime when the loan is fully subscribed, whi<:hever
shall be the earlier.
L-istock jigi mal!rug bil·prezz ta' LmlOO fil·mija u jingllata fuq
applikazzjoni. Meta jitllallas gIIalknllnll I-istock jigi registrat. Applikaz·
zjonijiet ghall-gl!oti ta' stock jifthu I-Tnejn, il_21 la' L ulju. 1986 fid-9.00
ta' fi l-gllodu u jaglllqu I-Cimglla, I- I ta' AwisSlI, 1986 ('nots iD-nhar Jew
f!lak jI·bin meta welf ikun solt05kritt gbal kollox. liema jnn l-aktar
kmieni.
The sum of money 10 be raised by the stock sball be
Lm5,!iOO,OOO.
J.
Interest shall be payable in arrear half·yearly 011 the 5th d.y
of Mareh and the !illt d.y of September in every year during the
currency of the stO(k. The first payment of Lm) per Lmloo Itock
oovering the period from the !itb day of September, 1'86 to the 4th day
of March, 1987 shall be made on the 5th day of Mareh. 1987.
A balf·yearly appropriation of not lesllhan Lm!iS,OOO out of l1Ie
genenl reVClluc Ind assets of tbe Government of Malta slullI be made ..
a contribulion 10 the linkiq fund estabti$bed for the purpose of redeem--
ing the stock. The first conlribution sh.lI be made wilhin onc year frotn
the 5th day of September, 1986.
The stock ~hall be redeemed It par on sucb date between tbe
1st day of J anuary, 1992 Ind the 31st day of I:)ecember, 1992 (botb days
inclusive). as shall be determined by the AOCQunlant General and notified
in tbe Qazette. Stock sball be redeemed only on the surrender of 'tock
certificate iSSUed.
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