MT
DIRECTIVE BY THE MINISTER OF FINANCE FOR THE ISSUE OF LM7,500,000 6.75% MALTA GOVERNMENT STOCK 2001 (THIRD ISSUE)
Table of Provisions (9)
Statutory Text (9 Articles)
ISSUE OF LM7,500,000 6.75%
MALTA GOVERNMENT STOCK 2001 (THIRD ISSUE)
SUBSIDIARY LEGISLATION 388.02
DIRECTIVE BY THE MINISTER OF FINANCE FOR
THE ISSUE OF LM7,500,000 6.75% MALTA
GOVERNMENT STOCK 2001 (THIRD ISSUE)
4th April, 1996
LEGAL NOTICE 57 of 1996.
The title of this Directive is Directive by the Minister of
Finance for the Issue of Lm7,500,000 6.75% Malta Government
Stock 2001 (Third Issue).
The stock shall be issued at the price of Lm100 percent and
shall be allotted by application in multiples of Lm100. Applications
for the allotment of stock shall open on Monday, 15th April, 1996
at 8.30a.m. and shall close at 12.00 noon on Saturday, 27th April,
1996, or earlier at the discretion of the Accountant General.
All persons and/or entities are eligible to apply. Allotment
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 official list
and trading on the Malta Stock Exchange will be made in terms of
the Malta Stock Exchange Act, when the stock has been allotted.
The sum of money to be raised by the stock shall be
Lm7,500,000.
On issue date, three parts out of every ten of the total
balance standing to the credit of the sinking funds of the stocks
declared as being redeemed in the twelve treasury notices
published in the Government Gazette of 4th April, 1996 will be
transferred to the Sinking Fund 6.75% Malta Government Stock
2001 (III) established for the purpose of redeeming the stock. A
further half-yearly appropriation of not less than Lm75,000 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 six months of the year
1997.
Interest at the rate of Lm3.375 for every Lm100 stock shall
pay be payable in arrear half-yearly on the 1st February and the 1st
of August of every year during the currency of the stock. The first
pro rata payment covering the period from the 28th April, 1996 to
the 1st August, 1996 shall be made on the 1st day of August, 1996.
The stock shall be redeemed at par on the 1st August, 2001.