7.5 % Malta Government Stock lOll

L.N. 176 of 1996

LOCAL WAN ACf, J996

(ACT NO. XD OF 1996)

LOCALWANS

(REGISTERED STOCK AND SECURITIES) ORDINANCE

(CAP. 161)

Directive by the Minister of Finance

for the Issue of Lm12,ooo,OOO

7.5 % Malta Government Stock lOll

(F1RST ISSUE)

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

and by section 4(I Xa) of the Local Loans (Registered Stock and

Securities) Ordinance, Cap. 16 1, the Minister of Finance has authorised

that the sum of LmI2,ooo,ooo 75% Malta Government Stock be

created and issued as follows :-

The present issue of Stock is being made for the purpose of Pu.,aeofiu ....

making good pari of the deficit projected to be inc urred by the

Consolidated Fund in the year 1996.

The Stock shall be issued at the price o f Lmloo per cent and

shall be allotted by application in multiples of Lm lOO. Applications

for the allotment of Stock shall open on Monday, 23rd September,

1996 at 8.30 a.m. and shall close at 12.00 noon o n Saturday, 28th

September, 1996,orearlier at the discretion of the Accountant General.

All persons andlor entities are eligible to apply . Allotment AIIoImtnII'oI;cy.

will be on a first-applied first-accepted basis wi th preference being

given to non-banking applicants.

An application for the Stock to be put on the official list and T~_'-MAIIa

trading on the Malta Stock Exchange will be made in tenns o f the ~~.

Malta Stock Exchange Act, when the Stock has been allotted.

S. The sum of mo ney to be rai sed by the Stock shall be S~oflllOlle)'lObc

Lm 12 ,000,000.

Is-somma ta' Ous li ghandha tingabar bl-iSlock tkun ta'

Lm 12,000,000.

6 , Approprjazzjoni kull sitt xhurta' mhux anqas minn Lm 120,{)OO

mid-ot'IUl Generali u mill-Auiv tal-Gvem la ' Malta ghandha ssir bhala

kontribuzzjoni ghall-Fond la' Ammonizzament sabiex jinfeda l-iStod:,

L-ewwel kontribuzzjoni ghandha ssir malu! I-ahhar sill xhur tas-sena

1997. 7 , L-imghax bir-rata la ' Lm3 ,75 ghal kull LmlOO Stock ghandu

jithallas b' lura kull sill "hur fil-2Sla ' Manu u fit-2Sta' Seuembru ta '

kull sena matul il-kors ta' l-iStod. L-ewwel hlas relatliv ghall-perjodu

mid-29 ta' Seuembru , 1996 sal-2S la' Manu, 1997 ghandu jsir fil-28

ta'Marzu, 1997,

A half-yearly appropriation of not less than Lm 120,000 out Rau:of.',ontribWooo

of the General Revenue and Assets of the Government 0 f Malta shall

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

purpose of redeeming the Stock. The fi rst contribution shall be made

during the latter six months of the year 1997 .

Interest at the rate of Lm3 .75 for every Lm 100 Stock shall be

payable in arrear hal f-yearly on the 28th March a nd the 28th of

September of every year during the currency of the Stock . The first

payment covering the period from the 29th September. 1996 to the 28th

March , 1997 shall be made on the 28th day of March, 1997.

The Stock shall be redeemed at par on the 28th September,

2011. ..

Mi""'&" n.l.....,njl~ ... - ~ . . . a..._,~p,.,

Pl'eu. le _ J'ria le