33 tal-1991
Statutory Text (4 Articles)
or I~ I
I .. N. II
LOCAL I.OANS (RF..G ISTt: RED STOC K AND S.:CURITIES )
ORDlNANO:. CA P. 16 1
Dindi H' by the Minister or .·inanc~
ror tJtt issUf or Lm2.000.000
J <,;, kllrw Debentures 1996
IN exe rcise of t he powers conferred hy Section 4( I lIb) of the Local
Loans ( Registe red Stock and Securities) Ordinance. Ca p. 161. the
Minister of ti naoce has authorised th at the sum of Lm2.(OJ.OOO 3%
Beare r lkbenturCli 1996 be created and issued as foI1OWl:-
The Deben tures shall be issued in multiples of LmSOO at the
61h April 1991 aI9.00a.m . Dnd shall dose at 12.00noon. Saturday. thc
I3l h April . 199 1 or earlier at lbediscrction of the Accoun tant General ,
2 . T he sum of money 10 be mised by debentures shall be
Lm2'(00.IOJ.
J. Intcrest shall be payable in arrea r an nuall y on the 13th da)' o f
April of e\'c ry )'e ar du ri ng the cU<Tency o f the debentu re . The firsl
payment of Lm.1.oo.O per Lm 100 debenture CQ\'eri ng the period from
th e 14t h day of AI)ri l 199110 Ihe 13th day of April. 1992. shall be m ade
on t he 13th day of April. 1992,
A half·yearly appmpria tion of not less than Lm20.()K) out o f
the general rC" cnue and assels of the GO"emment 0.>( 1o.Ialta shall be
made as a contrib ution to the sink ing fund established for the purpose of
redee min g the debentures . 'Illc first ('ont ri bulion sh all be made within
three years from the 141h dayof A pri l. 1991 .
1lIe Deben tures shall be red«med at par be' wee n t he 13t h
April . 1996 o r on such dat e as de termined by the Accountant G ene ral
and notifi .. d in the Gazelle. Debenture redemption moneys shall only
be payable on th~ surrende r o f the debenwre issued.
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