CAP. 70 BELIZE LOANS ACT BELIZE

BELIZE LOANS ACT

CHAPTER 70

REVISED EDITION 2000

SHOWING THE LAW AS AT 31ST DECEMBER, 2000

This is a revised edition of the law, prepared by the Law Revision Commissioner

under the authority of the Law Revision Act, Chapter 3 of the Laws of Belize,

Revised Edition1980 - 1990.

This edition contains a consolidation of the following laws- Page

ARRANGEMENT OF SECTIONS 3

BELIZE LOANS ACT 3

Amendments in force as at 31st December, 2000.

BELIZE

BELIZE LOANS ACT

CHAPTER 70

REVISED EDITION 2000

SHOWING THE LAW AS AT 31ST DECEMBER, 2000

This is a revised edition of the law, prepared by the Law Revision Commissioner

under the authority of the Law Revision Act, Chapter 3 of the Laws of Belize,

Revised Edition1980 - 1990.

This edition contains a consolidation of the following laws- Page

ARRANGEMENT OF SECTIONS 3

BELIZE LOANS ACT 3

Amendments in force as at 31st December, 2000.

,

No. 1 Power Lane,

Belmopan, by the authority of

the Government of Belize.

Belize Loans [CAP. 70

[ ]

3

CHAPTER 70

BELIZE LOANS

ARRANGEMENT OF SECTIONS

1. Short title.

2. Interpretation.

3. Minister may raise loan.

4. Expenses of issue.

5. Loan may be raised under Local Public Loans Act.

6. Amount of each debenture.

CHAPTER 70

BELIZE LOANS

[27th March, 1986]

1. This Act may be cited as the Belize Loans Act.

2. In this Act, unless the context otherwise requires-

(a) “Minister” means the Minister responsible for

Finance;

CAP. 65A,

R.E. 1980-1990.

5 of 1986.

CAP. 80.

Short title.

Interpretation.

4

(b) “debentures” includes bonds or similar securities.

3. The Minister or other authorised agent acting on his behalf may rain by

way of loan an amount sufficient to produce as nearly as may be the sum of

one hundred million dollars on such terms and conditions and for such

purposes as the Minister shall determine.

4. Any sum raised to defray expenses of the issue shall be applied only to

that purpose.

5. The loan authorised or any part thereof may be raised in Belize under the

provisions of the Local Public Loans Act:

Provided that-

(a) no interest shall be payable on the principal; and

(b) if acceptable collateral is offered the sinking fund

contemplated by the provisions of section 12 of the

said Act shall not be required.

6. Notwithstanding anything to the contrary in the Local Public Loans Act

each debenture may be for a sum of not less than fifty thousand dollars.

Minister may

raise loan.

Expenses of issue.

Loan may be

raised under

Local Public

Loans Act.

CAP. 80.

Amount of each

debenture.

CAP. 80.