CONVERSION OF LM 5,000,000 4.2 % LOCAL DEVELOPMENT 
REGISTERED STOCK 1995 (VI) INTO LM5 000,000 6% MALTA 
GOVERNMENT STOCK (CONVERSION) 1998 (V) [ S.L.161.46 1
SUBSIDIARY LEGISLATION 161.46
DIRECTIVE BY THE MINISTER OF FINANCE FOR 
THE CONVERSION OF LM 5,000,000 4.2% LOCAL 
DEVELOPMENT REGISTERED STOCK 1995 (VI) 
INTO LM5,000,000 6% MALTA GOVERNMENT 
STOCK (CONVERSION) 1998 (V)
20th June, 1995
LEGAL NOTICE 85 of 1995.
Title .
Finance for the Conversion of Lm 5,000,000 4.2% Local
Development Registered Stock 1995 (VI) into Lm5,000,000 6%
Malta Government Stock (Conversion) 1998 (V).
Mode of issuing 
stock.
2. 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, 26th
June 1995 at 8.30a.m. and shall close at 12.00 noon on Saturday,
8th July, 1995 or earlier at the discretion of the Accountant
General.
Allotment Policy.
with preference being given to non-banking applicants.
Trading on an 
exchange. 
Cap. 345.
4. An application for the stock to be put on the official list
and trading on a recognised stock exchange will be made in terms
of the Financial Markets Act, when the stock has been fully
subscribed.
Sum of money to 
be raised.
5. The sum of money to be raised by the stock shall be
Lm5,000,000. 
Rate of 
contribution to 
Sinking Fund.
6. On conversion date, the balance standing to the credit of
Sinking Fund 4.2% Local Development Registered Stock 1995 (VI)
will be transferred to Sinking Fund 6% Malta Government Stock
(Conversion) 1998 (V). A half-yearly appropriation of not less than
Lm50,000 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
1996.
Rate of interest and 
dates of payment.
7. Interest at the rate of Lm3.00 for every Lm100 stock shall
be payable in arrear half-yearly on the 10th of June and the 10th of
December of every year during the currency of the stock. The first
pro rata  payment covering the period from the 9th July, 1995 to the
10th December 1995, shall be made on the 10th day of December,
1995.
Redemption of 
stock.
8. The stock shall be redeemed at par on 10th June, 1998.
