54 tal-1997 - Direttiva mill-Ministru tal-Finanzi u Kummerċ għall-Ħruġ ta ' Lm10,000,000 7.25% Stock tal-Gvern ta' Malta 2005 (L-Ewwel Ħruġ)

L.N.54 or 1997

LOCAL LOAN ACT. 1997

(AC t' NO. VIOl<" 1997)

LOCAL LOANS

(REGlSTERED STOCK AND SECURITIES) OROI.NANCE

(CAP. 161 )

Directive by the MInIster or "' Ina nee and Commerce

for the Issue of Lm 10,000,000

7.25 % Malia Government Stock 2005

(FlRST ISSUE)

IN e xercise of the powers conferred by the Local Loan Ac t, 1997

and by s&tions 4(1 )(a), 3 l(aXb), and 32 oflhe Local Loans ( Registered

Stock and Securities) Ordinance, Cap. 161, the Minister of Finance

and Commerce ha.'l authorised that the sum of Lm 10.000,000 7.25%

Malta Government Stock be created and issucd as follows: -

The Stock shall be issued at the price of Lm 100 per cen t and Modeoliuooi,.

sball be allotted by application in multiples of Lm 100 . Applications -

for the allotment of Stock shall open on Monday , 12tb May, 1997 at

30a.m. and shall close at 12.00 noon on Saturday, 24th May, 1997

or earlier at the discretion of the Accountant General .

All persons and/or entiti es an: eligible to appl y. AlIOI:ment -'l~ Policy.

2. will be on a first· applied first·acce pted basis wi th preference being

given to non.banking applicants.

3. An application for the Stock to be pot on the official list and Tl*li .... 'he M>Iu.

trading on the Malta Stock Exchange will be made in tenns of the ~.~~:-","'

Malta St(ICk Exchange Act, when the Stock has been allotted.

4. The sum of money to be raised by the Stock shall be Soimol_y,ob<

Lm 1 0.000,000.

S. On closing date, one part out of every three of the total RoIooot'CCIIIrlbulkwl

balancl". standing to the credit of the Sinking Funds of 6 .75% Malta 10Si ... '" Fun;I.

Government Stock 1997 (I) and 5.4% Malta Governmen t Stock 1997

OJ) declared as being redeemed in the Treasury Notices published in

the Government Gazette of 2nd May, 1997 will be transferred to the

Sinking Fund 7.25% Malta Government Stock 2005 (1) established

for th e purpose of redeeming the Stock. A further half-yearl y

appropriation of not less than LmlOO.ooo out of the General Revenue

and Assets of the Government of Malta shall be made as a contribution

to this same Sinking Fund. The first contribution shall be made during

the first sil> months of the year 1998.

6. Interest at the rate of Lm3.625 for every LmlOO Stock shall

be payable in arrear half-yearly on the 24th May and the 24th of

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

payment covering the period from the 25th May, 1991 to the 24th

November, 1997 shall be made on the 24th day of November, 1997.

7. The Stock shall be redeemed at par on the 24th May, 2005.