7 "" I.otal Duriopmtnt Rtglst~ Stock 2000I2001

L.N. ISO of 1991

LOCAl. LOANS (REGISTERED STOCK AND SECURITIF-S)

ORDINANCE, CA P. 161

Oinc1 i~~ by tM Minlsterof FinalK'f

for tM issue of Lm l ,000,000

7 "" I.otal Duriopmtnt Rtglst~ Stock 2000I2001

(SLX TH ISSUE)

IN exercise of the power.;confe rred by Section 4( 1)(a) of the L.ocal

Loan s ( Registered Stock and Securitics) Ordinance. Cap. 161. the

Ministe r of Finance hps a ut horised that the sum of Lm J,(XXl ,OOO 7%

Local De velopment Registered Stock 2000I2001 (Si:l(\h Issue) be

crealed and issued as follows:-

The Slock shall be issued at the price o f Lml02 per cent and

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

registe red . Appli cations for the allotment of Stock shaH ope n on

Monday , 7th October. 1991 aI9.00 a.m. and shall dose al 12.00noooon

Satu rday . the 19th October. 1991 or earlier at the discretion o f the

Account an t General.

The sum of money to be raised QY the Stock shall be

Lml.OOO.OOO.

J . Interest shall be payable in arrear half-yearly on the 19th dayo(

October and the 19th day of April of eve ry year during the cu rrency of

the Slock. The fir.;t payment of Lm3.50,O per Lm 100 Stoc k covering the

period from the 20th day of Octobcr 1991 to the 19th day of Apri l. 1992.

shall be made on Ihe 19th day o f April . 1992.

The first LmSO in terest thereon will be exempled from Income

Tax.

S. A half-yearl~ appropriat ion of not less than LmiO,OOO out o f

the general revenue and assets of the Government of Malla shall be

made as acontribution to the sinking fund establi shed forthepurposeof

redee ming the Stock. The fir.;t contribution shall be made within three

year.; from the 20th day of October. 1991.

The Stock shall be redeem ed at the rate o f Lm lOO for every

Lm 100 Stock on such da te bet .... ee n the 1st day o f Ja nuary . 2000 and the

3 1st day of Dea:m be r, 2001 (both dates inclusive) as shall be

determined by the Accountant Gene ral and notified in the Gazelte.

Stock shall be rede emed only on the surrende r or tlie Stock Certificate

issued .

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