ISSUE OF LM700,000 4.5% 
LOCAL DEVELOPMENT REGISTERED STOCK 1996/98 g S.L.161.22 1
SUBSIDIARY LEGISLATION 161.22
DIRECTIVE BY THE MINISTER OF FINANCE FOR 
THE ISSUE OF LM700,000 4.5% LOCAL 
DEVELOPMENT REGISTERED STOCK 1996/98
SIXTH ISSUE
1st October, 1991
LEGAL NOTICE 151 of 1991.
Title .
Finance for the issue of Lm700,000 4.5% Local Development
Registered Stock 1996/98.
Mode of issuing 
stock.
2. The stock shall be issued at the price of Lm101 per cent
and shall be allotted by application. The stock, when fully paid,
shall be registered. Applications for the allotment of stock shall
open Monday, 7th October, 1991 at 9.00 a.m. and shall close at
12.00 noon on Saturday, the 19th October, 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
Lm700,000.
Rate of interest and 
dates of payment.
4.  Interest shall be payable in arrear half-yearly on the 19th
day of October and the 19th day of April of every year during the
currency of the stock. The first payment of Lm2.25,0 per Lm100
stock covering the period from the 20th day of October, 1991 to the
19th day of April, 1992, shall be made on the 19th day of April,
1992.
Exemption from 
income tax.
5. Interest thereon will be exempted from income tax.
Rate of 
contribution to 
sinking fund.
6. A half-yearly appropriation of not less than Lm7,000 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 20th day of October, 1991.
Redemption of 
stock.
6.  The stock shall be redeemed at the rate of Lm100 for every
Lm100 stock on such date between the 1st day of January, 1996 and
the 31st day of December, 1998 (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.
