MT
DIRECTIVE BY THE MINISTER OF FINANCE FOR THE ISSUE OF LM10,000,000 7.25% MALTA GOVERNMENT STOCK 2006 (THIRD ISSUE)
Table of Provisions (10)
Statutory Text (10 Articles)
ISSUE OF LM10,000,000 7.25%
MALTA GOVERNMENT STOCK 2006 (THIRD ISSUE)
SUBSIDIARY LEGISLATION 388.09
DIRECTIVE BY THE MINISTER OF FINANCE FOR
THE ISSUE OF LM10,000,000 7.25% MALTA
GOVERNMENT STOCK 2006 (THIRD ISSUE)
28th June, 1996
LEGAL NOTICE 127 of 1996.
The title of this Directive is Directive by the Minister of
Finance for the Issue of Lm10,000,000 7.25% Malta Government
Stock 2006 (Third Issue).
The present issue of stock is being made for the purpose of
making good part of the deficit incurred by the Consolidated Fund
to meet expenditure during the year 1995 and that projected to be
incurred in the year 1996.
The stock shall be issued at the price of Lm100 per cent
and shall be allotted by application in multiples of Lm100.
Applications for the allotment of stock shall open on Monday, 8th
July, 1996 at 8.30 a.m. and shall close at 12.00 noon on Saturday,
20th July,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.
345.
The sum of money to be raised by the stock shall be Lm
10,000,000.
A half-yearly appropriation of not less than Lm100,000 out
of the general revenue and assets of the Government of Malta shall
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 six months of the year 1997.
Interest at the rate of Lm3.625 for every Lm100 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 of January, 1997. The
last pro rata payment covering the period from the 21st day of
January, 2006 to the 1st day of August, 2006 shall be made on the
redemption date 1st August, 2006.
The stock shall be redeemed at par on the 1st August, 2006.