ISSUE OF LM500,000 3% 
LOCAL DEVELOPMENT REGISTERED STOCK 2001 ġ S.L.161.08 1
SUBSIDIARY LEGISLATION 161.08
DIRECTIVE BY THE MINISTER OF FINANCE FOR 
THE ISSUE OF LM500,000 3% LOCAL 
DEVELOPMENT REGISTERED STOCK 2001
28th May, 1991
LEGAL NOTICE 76 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, 3rd June, 1991 at 9.00 a.m. and shall close at
12.00 noon on Saturday, the 15th June, 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 15th
day of June and the 15th day of December of every year during the
currency of the stock. The first payment of Lm1.50,0 per Lm100
stock covering the period from the 16th day of June, 1991 to the
15th day of December, 1991, shall be made on the 15th day of
December, 1991.
Exemption from 
duties. 
5. The stock will be exempted from payment of death 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 16th day of June, 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.
