Cap. 161 Art. 6Minister to direct mode of raising loans and other particulars.

(1) The Minister responsible for finance shall, in respect of each loan to be raised under this Ordinance, specify by direction published in the Government Gazette -

(a) the sum of money to be raised by that loan;

(b) the mode or modes of raising the loan;

(c) the rate of interest payable on the loan;

(d) the dates in each year on which the half-yearly interest of the loan shall be payable;

(e) the rate, if any, at which a half-yearly appropriation 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 that loan and the period within which such contribution shall commence;

(f) the date of redemption of the registered stock or securities to be issued for the purpose of raising that loan and, where applicable, the method of redemption of such stock or securities;

(g) whether the interest payable on any registered stock or debentures issued under the authority of this Ordinance shall be exempt from all or any of the taxes and duties payable under any other law in force in Malta.

(2) The date of redemption of any registered stock or securities shall not be later than sixty years from the date of issue of such stock or securities.

(3) Where the Minister responsible for finance deems it expedient to reserve an option to redeem any registered stock or securities at any date earlier than the date of redemption specified for such stock or securities by the directions under sub-article (1), he shall by such directions further specify the terms and conditions on which such stock or securities may be redeemed at any earlier date.