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Antigua and Barbuda (General Loans) Act 2002

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and Barbuda (General 1 ANTIGUA
Loans) Act, 2002. AND


[ L.S. ]
I Assent,

James B. Carlisle,

28th May, 2002.


No. 6 of 2002

AN ACT to authorize the Minister of Finance to borrow the
sum of sixty Million dollars fo finance recurrent expendi-
ture, certain overdraft and credit facilities and contingent
liabilities of the Government of Antigua and Barbuda.

[ 6th June, 20021

ENACTED by the Parliament of Antigua and Barbuda as
follows -

1. This Act may be cited as the Antigua and Barbuda (Gen- short tiue.
era1 Loans) Act, 2002.

2. In this Act, "Minister" means the Minister charged with Interpretation.
the responsibility for Finance.

3. Notwithstanding the provisions of any other Act, the Min- Minister
ister is hereby authorised in any one year to borrow sums of authorised to
money not exceeding an aggregate sum of Sixty Million United ~ ~ ~ o , o o o ,
States Dollars or the equivalent in other currencies on such terms
and conditions as may be agreed upon between the Minister
and each of the lenders of the aggregate sum.

4. The money borrowed under the authority of this Act shall Application of
be applied to finance the recurrent expenditure including over-

ANTIGUA 2 The Antigua and Barbuda (General No. 6 of 2002.
AND Loans) Act, 2002.


draft facilities, debt service charges of the Government of
Antigua and Barbuda and any contingent liability incurred by
the Government on behalf of any StatutoryAuthority, Statutory
Board or Statutory Agency.

Power to issue 5. The Minister may issue such promissory notes or other
Instruments. instruments as may be necessary for the purpose of giving ef-

fect to the terms of any agreement entered into by him with the
lender in respect of any of the money borrowed under the au-
thority of this Act.

Principal and
6. The principal sum borrowed under the authority of this

lnterest to be act and the interest thereon are hereby charged upon and shall
charged on the be payable out of the Consolidated Fund.

Passed the House of Representatives Passed the Senate this 29th day of
this 1 lth day of April, 2002. April, 2002.

B. Harris,

M. Percival,

S . Walker, S. Walker,
Clerk to the House of Representatives. Clerk to the Senate.

Lester B. Bird,
Minister of Finance.

Printed at the Government Printing Office, Antigua and Barbuda,
by Donovan Southwell, Government Printer

-By Authority, 2002.
800-6.02 [Price $1.551