131 tal-1991
Statutory Text (4 Articles)
L.N. 131 of 1991
LOCAL LOANS (REGISTERED STOCK AND SF.CURIT IES)
ORDINANCE, CA P. 161
Dirmlyt by the Minisltr of rtnance
for the iMUt of Lml,OOO,OOO
7 .. Loa! DtftlopmnlC R~ Stock 2000I2001
(FIFTH ISSUE)
IN cKc rcise o flhe powers conferred by Section 4( 1)(.) orlhe Local
Loans (Registered Stock and Securit ies) Ordinance , Cap. 161 , tbe
Minister of Finance has authorised thal the sum of Lm2,OOO,OOO 7%
Local Development Registered Stock 2OOOIZOO1 (Fi ft h Issue) becreated
and issued u follows:-
I. The Stock shall be issued at the price of Lml 02 per cc nt and
shall be allotted by app lication . Thc Stock , when fully paid, shall be
registered. Applications for the allotmenl of Stock shaD open on
Monday, 9th September. 1991 aI9 .00a.m. and shall close at 12.00 noon
on Friday, the 20th Septe mbe r. 1991 or earlie r at the discution of lbe
Account ant General.
The sum of money to be raised by the Stock shall be
Lm2,OO),OOO.
J. !nle resl shall be payable in arrea r half-yearly on the 21st day of
September and the 21st day of March o f every year during thewrrency
of tbe Stock. The fir1it payment o f LmJ.SO.O pe r Lm100 Stock covering
the period from the 22nd day of September 1991 10 the 21st day of
MaKh , 1992, shall be made on the 21st day o f March , 1992.
The first LmSO inte rest the reon will be exempted from I ncome
Tax .
.5. A half-yearly appropriation of not less than Lm2O,OOO out of
the gene ral revenue and as5e1$ of the Gove rn men t of Malta shall be
made as a contribution to the sin king fund established for tne purpose of
redeeming the Stock. The first contributio n shall be made within three
years from the 22nd day of Septembe r, 1991.
The Stock shall be redeemed at the rate of Lm100 for every
Lm IOO Stock on such date between the 1st day of J anuary. 2txna nd the
31st day of Dt«mber, 2001 (both dales inclusive) as shall be
de te rmined by the Accou ntant Genera l and notified in the Gazelle .
Stock sball be redeemed o nly o n the surrender oft be Stock Ce rtifica te
issued .
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