Cap. 575 Art. 29Procedure for issuance other than by auction.

(1) In the case where the securities are issued in another manner other than by auction, the Minister shall approve the terms and conditions of the issuance, including the investment memoranda/prospectus.

(2) In the case where the securities are issued in a manner other than by auction and their issue has been included in the annual financing programme, approved by the Minister in accordance with article 18, the Treasury Department shall have the power to issue and sign agreements, on behalf of and on account of the Government, which shall regulate the sale of the said securities.