ISSUE OF LM2,000,000 7% 
LOCAL DEVELOPMENT REGISTERED STOCK 2000/01 _g S.L.161.17 1
SUBSIDIARY LEGISLATION 161.17
DIRECTIVE BY THE MINISTER OF FINANCE FOR 
THE ISSUE OF LM2,000,000 7% LOCAL 
DEVELOPMENT REGISTERED STOCK 2000/01
FIFTH ISSUE
3rd August, 1991
LEGAL NOTICE 131 of 1991.
Title .
Finance for the issue of Lm2,000,000 7% Local Development
Registered Stock 2000/01.
Mode of issuing 
stock.
2.  The stock shall be issued at the price of Lm102 per cent
and shall be allotted by application. The stock, when fully paid,
shall be registered. Applications for the allotment of stock shall
open on Monday, 9th September, 1991 at 9.00 a.m. and shall close
at 12.00 noon on Friday, the 20th September, 1991 or earlier at the
discretion of the Accountant General.
Sum of money to 
be raised. 
3. The sum of money to be raised by the stock shall be
Lm2,000,000.
Rate of interest and 
dates of payment.
4.  Interest shall be payable in arrear half-yearly on the 21st
day of September and the 21st day of March of every year during
the currency of the stock. The first payment of Lm3.50,0 per
Lm100 stock covering the period from the 22nd day of September
1991 to the 21st day of March, 1992, shall be made on the 21st day
of March, 1992.
Exemption from 
income tax.
5. The first Lm50 interest thereon will be exempted from
income tax.
Rate of 
contribution to 
sinking fund.
6.  A half-yearly appropriation of not less than Lm20,000 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 within three years from the 22nd day of September, 1991.
Redemption of 
stock.
7.  The stock shall be redeemed at the rate of Lm100 for every
Lm100 stock on such date between the 1st day of January, 2000 and
the 31st day of December, 2001 (both dates inclusive) as shall be
determined by the Accountant General and notified in the Gazette.
Stock shall be redeemed only on the surrender of the stock
certificate issued.
