CAP. 71 DEVELOPMENT FINANCE CORPORATION (LOANS) ACT BELIZE

DEVELOPMENT FINANCE CORPORATION (LOANS) ACT

CHAPTER 71

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

DEVELOPMENT FINANCE

CORPORATION (LOANS) ACT 3

Amendments in force as at 31st December, 2000.

BELIZE

DEVELOPMENT FINANCE CORPORATION (LOANS) ACT

CHAPTER 71

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

DEVELOPMENT FINANCE

CORPORATION (LOANS) ACT 3

Amendments in force as at 31st December, 2000.

,

No. 1 Power Lane,

Belmopan, by the authority of

the Government of Belize.

Development Finance Corporation (Loans) [CAP. 71

[ ]

3

CHAPTER 71

DEVELOPMENT FINANCE CORPORATION (LOANS)

ARRANGEMENT OF SECTIONS

1. Short title.

2. Minister may raise loan.

3. Purpose of loan.

4. Method of raising loan.

5. Contributions to sinking fund.

6. Interest paid on debentures not computed in chargeable income.

CHAPTER 71

DEVELOPMENT FINANCE CORPORATION (LOANS)

[11th November, 1972]

1. This Act may be cited as the Development Finance Corporation (Loans)

Act.

2. The Minister may raise by loan an amount sufficient to produce as nearly

as may be the sum of two hundred and sixty thousand dollars and such

further sums as may be necessary to defray the expenses of issue.

CAP. 57,

R.E. 1980-1990.

12 of 1972.

Short title.

Minister may

raise loan.

4

3.-(1) Any sum raised to defray the expenses of issue shall be applied only

to that purpose.

(2) Except as aforesaid, the money borrowed under this Act shall

be appropriated and applied for the purpose of purchasing shares by the

Government in the Development Finance Corporation.

4. The loan hereby authorised, or any part thereof, may be raised in this

country under the provisions of the Local Public Loans Act.

5. The contribution to a sinking fund as contemplated by the provisions of

section 12 of the Local Public Loans Act shall commence, in respect of the

loan authorised by this Act, in the half year ending on 1st November, 1975.

6. The interest paid on the debentures issued in respect of the loan

authorised by this Act shall not be taken into account in ascertaining the

chargeable income of debenture-holders under the Income and Business

Tax Act.

Purpose of loan.

Method of

raising loan.

CAP. 80.

Contributions to

sinking fund.

CAP. 80.

Interest paid on

debentures not

computed in

chargeable income.

CAP. 55.