ISSUE OF LM500,000 3% 
LOCAL DEVELOPMENT REGISTERED STOCK 2001 g S.L.161.15 1
SUBSIDIARY LEGISLATION 161.15
DIRECTIVE BY THE MINISTER OF FINANCE FOR 
THE ISSUE OF LM500,000 3% LOCAL 
DEVELOPMENT REGISTERED STOCK 2001
SECOND ISSUE
30th July, 1991
LEGAL NOTICE 122 of 1991.
Title .
Finance for the issue of Lm500,000 3% Local Development
Registered Stock 2001.
Mode of issuing 
stock.
2. The stock shall be issued at the price of Lm100 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, 5th August, 1991 at 9.00 a.m. and shall close at
12.00 noon on Saturday, the 17th August, 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
Lm500,000.
Rate of interest and 
dates of payment. 
4.  Interest shall be payable in arrear half-yearly on the 17th
day of August and the 17th day of February of every year during
the currency of the stock. The first payment of Lm1.50,0 per
Lm100 stock covering the period from the 18th day of August,
1991 to the 17th day of February, 1992, shall be made on the 17th
day of February, 1992.
Exemption from 
duty and tax.
5. The stock will be exempted from payment of death and
donation duty, while interest thereon will be exempted from income
tax.
Rate of 
contribution to 
sinking fund.
6. A half-yearly appropriation of not less than Lm5,000 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 18th day of August, 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, 2001 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.
