6.3% Malta Gove rnment Stock 1999

L. N. 115 of 1996

LOCAL LOAN ACf,I996

(ACT NO. Xli OF 1996)

LOCAL LOANS

(REGISTERED STOCK AND SECURITIES) ORDINANCE

(CAP. 161)

Dlre<:tlve by the Minister of Finance

for the Issue of Lm6,OOO,ooo

6.3% Malta Gove rnment Stock 1999

(FOURTH ISSUE)

IN exercise of the powers conferred by the Local Loan Act, 1996

and by section 4(1)(a) of the Local Loans (Rcgistered Stock a nd

Securities) Ordinance, Cap. 161 . the Minister of Finance has authorised

that the sum ofLm6.ooo,ooo 6 J% Malta Government Stock becreated

and issued as follows:-

The present issue of Stock is being made for the purpose o f P'I<rpoR. ofissuo.

making good pan of the deficit incurred by the Consolidated Fund to

meet expenditure duri ng the year 1995 and that projected to be incurred

in the year 1996.

The Stock shal l be issued at the price of Lm lOO per cent and MocIoot ...... ng

shall be allotted by application in multiples of Lm 100. Applications SlCICk.

for the allotment of Stock shall open on Monday . 8th July. 1996 at

8 JOa. m. and shall close at 12.00 noon on Saturday, 20th July, 1996 or

earlier at the discretion of the Accounlant General.

All persons andlor emities are eligible to apply . Allotment Allotn>cnl ..... ~.

will be on a first- applied first-accepted basis with preference being

given to non-banking applicants.

An application for the Stock to be put on the officia1 list and Trod;",,,,,!ht Mal ..

trading on the Malta Stock Exchange will be made in tems of the ~ ~ehonp.

Malta Stock Exc hange Act, when the Stock has been alloued.

The sum o f money to be raised by the Stock shall be Su," of

.. I~.

Lm6.000.ooo.

A half.yearly appropriation of not less than Lm60,OOO out Ra«; of.rontribYIion

of the General Revenue and Assets of the Government of Malta shall 10 S,nk,,,, Ftond.

be made as a contribution to the Sinking Fund established for the

purpose of redeeming the Stock. The first contribution shall be made

during the first s ix months of the year 1997.

Interest at the rate of Lm3 .15 for every Lm 100 Stock shall be

payable in arrear half-yearly on the 20th January and the 20th of July of

every year during the currency of the Stock. The: first payment covering

the period from the 21st July, 1996 to the 20th January. 1997 shall be

made on the 20th day or Jan uary . 1997 . The last pro-rata paymen t

covering the period from the 21 st day of January, 1999 to the 1st day of

August, 1999 shall be made on the redemption date 1st August, 1999 .

1be Stock shall be redeemed at par on the 1st August, 1999 .

Ippubtllibl .... Diponi_ .. · I •• afutmaujonl _ Katoilja - f'o.biisW by lite ~f"UI.'''1J of I~fi>r_- - /fa<lllja

Mi ..... '" n ..... ....,..njo ... .o.m. _ f',.;.,/ftJ '" lilt Guwt._", ,.,,~ f'nu

Pru..; le - Prlcf 2e