3% Local Development Rq:lstered Stock 1.995

I •• N. 1.59 of 1989

LOCAL LOANS (REGISTERED STOCK AND SECURITI ES)

ORIUNANCE, CA P. 161

Dir«tin by tbe MIti L5Ie<> oll-1nance

ror the iM~ of Lm700,OOO

3% Local Development Rq:lstered Stock 1.995

T HIRD LSSUE

IN exercise of the powers conferred by $cction 4(1 )(a) o f t he Loca l

Loans (registered Stoc k and Se<;;uril ies) O rdinance. Cap. 161, the

Minister of Finance has authorised tha t the sum of Lm700,OOO Local

Development Registe red Stock 1995 (3rd Issue) be created and issued

as follows:-

I. The SlOek shall be issued al the price o f Lm IOO per cent and

shall be allotted by application. The Stock, when fully paid, shall be

registered . Applica tions for the allotment o f stock shall open on

Wednesday , 20th Dec:ember, 1989 at 9.00 a. m . and shall close at 12.00

noon on the 26(h December. 1989 or earl ier al tile discre tion of the

Accountant Ge neral.

The sum of money 10 be raised by the slock shall be

Lm700.000.

J. Inlcrest shall be payable in arrear half-ycarly o n the 27th dayof

June and Ihc 27th day of Decemberof every year during thenlrrencyof

the $Iock. The fir!i\ paymen t of Lm l .50,O per Lm 100 slock coveri ng the

period fro m the 28t h day of Oeeember 1989 to the 27th day o f June .

1990. shall be made on the 27t h day o f J une. 1990.

L-imghu ghandu jithallas b'lu ra kull sill xhur fis-V ta' OU/lju Ro .. .. · imJII-I.

u fis-27 ta' Ditcmbru ta ' kullsena mat ul il-kors ta·l-isrock . L-e_el hlas u "',; ,aI-~".

la' Lm 1.50,0 kull Lm I OO slock relatt;vament ghall-perijodu bej n it -28 ta'

Oitembru. 1989 u s-27 ta' Ounju , 1990. ghandu ;sir fis-27 ta ' Ounju,

1990.

The Stock will be exempted from payme nt of Death DUl y.

while interest thereon will be exem pted from Inco me Tax.

S. A half-yea rly appropriat io n of notlcss than Lm 7 .OOOOU\ of the

the ge neral reve nue and assets o f the Government o f Malta shall be

made as a cont ribUlio n to the sin king fu nd established for Ihe purpm.e of

redeemin g thc slock. The fi rst cont ri bution shall be made within onc

year from the 28th day of December. 1989.

The Sloc k shall be redeemed at pat on sueh da te be twee n the

1st day of January, 1995 ~nd the 31st day of December, 1995 (bot h dates

inclusive) as shall be determined by the Accountant Gencral and

notified in the Gazelle. Stock shall be redeemed only o n the surrender

of the stoek certificate issued.

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