Cap. 222 Art. 3Authority to issue bonds.

(1) Subject to the provisions of this Act, it shall be lawful for the Minister to authorise the issue of savings bonds up to an amount not exceeding eleven million, six hundred and forty-six thousand and eight hundred and sixty-six euro and ninety-nine cents (11,646,866.99) or such higher amount as the House may from time to time by resolution approve.

(2) The Minister may authorise different issues of bonds or

*See Government Notice No. 990 of 22nd December, 1970.

(3) Any act done and any preliminary expenses incurred in connection with the issue, promotion and administration of bonds before the coming into force of this Act shall have the same effect and validity as if such acts had been validly done and such expenses been lawfully incurred under this Act; and any act or thing so commenced but remaining unfinished at the date of the coming into force of this Act may be continued under this Act as if such act or thing had been initiated under this Act.