148 tal-1991
Statutory Text (5 Articles)
LOCAL LOANS (REGISTERED STOCK AND SECURITIES)
ORDIN.4.NCt:, CAP. 161
Directive by tbe Minur of Hnanee
for tbe Issue of Lm700,OOO
J% Local Development Registered Stock 200 1
(t'OURTH ISSUE)
IN txercis.eofthc powf!noonfcrred by Section 4(1 )(a) of the Local
Loans (Registered Stock and Securities) Ordin ance, Cap. 161, the
Minister of Finance has authorised that the sum of Lm700,0C(l 3%
Local Development Registered Stock 2001 (Fourth ISli ue) be crealed
and issued as follows: -
l. llte Stock shall be issued at the price of Lm 100 pe r cent and
shall be , IJolled by application. The Stock. when fully paid, shall be
registered . Applications for the allotment of Stock shall open on
Monday , 7th October, 1991 at 9.00 a.rn , and shall dose: at 12.00nooo on
Saturday. the 19th October, 1991 or earlie r at the discretion of the
Accountant General.
The sum of money 10 be raised by the Stock shall be
Lm700,OOO.
J, Interest shall be payable in arrear hpl f-yearlyon the 19thdayof
O<:cohcr and the 19th day of April of every year during the currency of
the Stock . The first payment o fLml .SO.Oper LmIOOStockQOve ring the
period from the 20th day of Octobe r, 1991tothe 19th day of April. 1992,
shall be made on the 19th day of Apri l, 1992.
The Stock will be exempted from payment of Death and
Donation Duty, while interestlhe reon will be exempted from Income
Tax.
A half-yearly appropriation of notleiS than Lm7 .0000ul of the
gene ral revenue and assets of the Gove rnment of Maltashall be made as
a oonlribu tion co the sinking fund established for the purpose of
redeeming the Stock. Th e first contribution shall be made within three
years from Ihe 20th day of October, 1991 .
'The Stock shall be redeemed at the rale of Lm 100 for every
Lm lOO Stock on such date between the 1st day o f January, 2001 and the
31st day o f December. 2001 (both dales 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 Cenificate
issued.
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