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4 .5% 1 .'~1I1 Development RCKiSlcrtd Stock 1996198
Table of Provisions (6)
Statutory Text (6 Articles)
L.N. 77 of 1991
LOCAL LOANS ( ltEGISTEREO !o.TOCK AND SECUR ITIES)
ORDlNANC t: , CA P. 16 1
Oiredil'\l' by the Minister of Hnanet'
ror the is.~ue of LmSOO,OOO
4 .5% 1 .'~1I1 Development RCKiSlcrtd Stock 1996198
(TIIIR() ISSUE)
IN exercise of the powers conferred by Sectio n 4(1 )(a) of the Local
Loans ( Registered Stoc k and Securities) Ordinance. Cap . 161. the
Minister o f Fi nance has aut ho rised Ihat thc sum of Lm500,()(X} 4.5 %
Local Developme nt Registered Stock 1996198 (Th ird Issue). be created
and issued as foll ow!:-
Th e Stock ~ha ll be issued at the price of Lm lO l pe r ce nt a nd
shall be allol1 ed by appliC' .. tion . l 1te Stock. when fully pa id. shall be
registc red. Applkations for the allotme nt of Stoc k shal] open Monday,
3rd J une. 199 1 a t 9.00 a.m. and sha ll close at 12.00 noon on Saturda y,
the 15th J une , 1991 o r ea rlie r at the discretion of the Accountant
Ge ne ral.
2, The sum of money to be raised by the Stock shall be
Lm500.000.
Inte rest sha ll be payable in arrear half-yearly o n the 151h dayof
j,
June and the 15th dayof Decemberof every year duri ng Ihecurrency of
the Stock. The fi rst paymcnl ofLm2.25.0 per Lm 100 Stock ~"Q~e ring the
period from the 16th day o f June, 1991 to the 15th da y o f Dece mbe r.
199[. shall be made on the 15th day of Decc mber. [991 .
Inte rest th ereon will be e xempted from Income Tu ,
4.
Is-somm a ta ' fius li gbandha lingaba r bl-iStock Ikun la '
Lm500,m.
3, L-imghax gbandujithallas b'lura kull silt " hu r fil - I S la ' uu nju u
fiI- IS la ' DiCc mbru la' kllll sena malul il·ko rli la' l-iSlock . L-ewwe\ hlas
la' Lm2.25.0 kull Lm 100 Stock rel attiva men l ghal1-perijod ll bejn is- 16
ta' Ccnju. 199 1 u I- IS ta' Dite mbru. 1991. ghandu jsir fiI · IS ' a'
Ditem bru . [991.
L-imghax fuq dan l-iSrock huwa cu nl al mill-hlas l al-Tax~a fuq Et ... jonl
I-/ncom ....
S. Approprjazzjoni kull sill ~hur la' mhu~ anqas mi nn LmS.m Ro' . ... •
mid-dhul gene ra l; u mill-auiv lal-Gvem ta' Maila ghandha ssi r bll ala ~""'"iI>u,,""'i
kontribuzzjoni gball-fond la' ammonizzamcnl sabie~ iifdi [-lSfOCk . L. ..."""'",
cwwel komribuzzjon i ghandha ssi r fi i mie n tlic l snin mis- 16 ta ' Gunju.
1991.
A half·yea rly appro priation of not less than Lm5,OOJou t of th e
general re,'enue and assets o f the Government o f Maim sha ll be made as
a contribution to the si nk ing fund established for th e purpose of
redeemin g the Stock. The first contri bu ti on shall be made within three
yea~ from the 16th dayof June, 1991.
The Stock Shall be redeemed al the rate of LmlOO for e\'ery
LmlOO Stock on such d ate bel .... een the ISI dayof January , 1996 and the
31s1 day of I) eeember . 1998 (both dales incl usive) as shall be
de termined by the Accountant Gene ral and notified in the Gaze tte.
Stock shall be redeemed only on the surrender of the Sloc k Certificate
issued .
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