LmZ,ooo.OOO 61-% Local Dnelopmeat Registered Stock 1986/87

LN. 49 of 1987

LOCAL LOANS (REGISJ'ERED STOCK AND SECURJTIF.I;)

OR DINANCE,. 1959

CONVERSION OF STOCK

Diredive by the Min ister 01 Finance for the CoD¥em oD of the

LmZ,ooo.OOO 61-% Local Dnelopmeat Registered Stock 1986/87

IN exercise of tbe powers conferred by SC(:tion 31 (a) of the Local

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

of Finance has declared the Lm2,OOO,OOO 6-1% Local Development Re-

gistered Stock 1986/87 due for repolyment on the 18th October, 1987. to

be cOIlvertible into registered stock: to be issued under the provisions of

the Ordinance.

The Minister bas also authorised in terms of sections 31 (h) and 32

of the same Ordi nance that. foc the conversion of the Lm2.000,OOO 6-1%

Local Development Registered. Stoek 1986/87 a new 6-1% Local Deve-

lopment Registered. (Conversion) Stock 1993 /94 be created and issued as

follows ;

I. (a) The stock shall be issued at the price of Lm lOO per cent Mode of

and shall be allotted by application. The stock when ful1y paid shal1 be Jaul", .tock.

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

of the 6-1 % Local Development Registered Stock 1986/87 sbaH open at

9 a.m. 011 Monday, 7th September. 1987. and close at noon on Friday,

25th September, 1987.

(h) Applications from the ~eneral public for the remaininj!

balance of tbe 61% Local Developmen t Registered (Conversion) Stock

1993/94. win be received at the Treasury between 9.00 a .m. OIl Monday,

5th October, 1987, and 12 noon on Friday, 9th October, 1987, or earlier if

stock is funy subscribed. at the discretion of the Accountant General.

Z. The sum of money to be raised by the stock sbaH be S"", of mol>O)"

Lm2.000.000.

10 bo ... bed.

lwomma ta' flus li ghandha tingabar bl·istock tbm ta' Somma la' flu.

Il &baDdha

Lm2.000,OOO.

tintabu.

Interest shall be payable in arrear balf·yearly on the 18tb day Rate of

of April and the 18th day of October in every year during the int", .. 1 aD"

currency of tbe stock. The first payment of Lm3.12,5 per Lml00 stoct. <la ... of

covering the period from the 18th day of October. 1987 to the 17th poym ... L

day of April, 1988. sba11 be made on the 18th day of April, 1988.

A half.yearly appropria tion of not less than Lm20,OOO out of!hl! Rat. of

general revenue and assets of the Govemment of Malta shall be made contribution to

... " contribution 10 the .i.nking fuud c.lablh;hed for the pDI"pO<Se 01 >iokl ... fuod.

redeeming the stock. The first contribulioo shall be made within ODe

year from the 18th day of October. 1987.

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

1st day of January, 1993, and the 31st day of December, 1994 (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 mid-Dipartment ta’ l-Informazzjoni – Kastilja – Published by the Department of Information – Kastilja