CAP. 83 TREASURY BILLS ACT BELIZE

TREASURY BILLS ACT

CHAPTER 83

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

TREASURY BILLS ACT 4

Amendments in force as at 31st December, 2000.

BELIZE

TREASURY BILLS ACT

CHAPTER 83

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

TREASURY BILLS ACT 4

Amendments in force as at 31st December, 2000.

Treasury Bills

THE SUBSTANTIVE LAWS OF BELIZE REVISED EDITION 2000

3

Printed by the Government Printer,

No. 1 Power Lane,

Belmopan, by the authority of

the Government of Belize.

[ ]

[CAP. 83

CHAPTER 83

TREASURY BILLS

ARRANGEMENT OF SECTIONS

1. Short title.

2. Interpretation.

3. Authority to issue Treasury Bills and Treasury Notes.

4. Principal sum represented by Treasury Bills and Treasury Notes to be

charged on Consolidated Revenue Fund.

5. Proceeds of Treasury Bills and Treasury Notes.

6. Expenses of issue of Treasury Bills and Treasury Notes.

7. Amounts and currency of Treasury Bills and Treasury Notes.

8. Issue of Treasury Bills and Treasury Notes to be sufficient evidence

that authority of Minister given.

9. Power to make rules.

_______________

Treasury Bills

THE SUBSTANTIVE LAWS OF BELIZE REVISED EDITION 2000

Printed by the Government Printer,

No. 1 Power Lane,

Belmopan, by the authority of

the Government of Belize.

4

[ ]

CAP. 83 ]

CHAPTER 83

TREASURY BILLS

[22nd September, 1972]

1. This Act may be cited as the Treasury Bills Act.

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

“financial year” means the period of twelve months beginning on lst April in

each year and ending on 31st March next ensuing;

‘Minister’ means the Minister for the time being responsible for finance;

‘Treasury Bill” or “Bill” means a Treasury Bill with a maturity period of not

more than twelve months issued under the authority of section 3;

“Treasury Note” or “Note” means a Treasury Note with a maturity period of

not less than one year and not more than five years issued under the authority

of section 3.

3.-(1) Subject to this Act, the Minister is hereby authorised to borrow by

the issue in Belize of Treasury Bills and Treasury Notes, and the Financial

Secretary, when authorised in writing in that behalf by the Minister, may for

that purpose issue in Belize, within the terms of the authority and subject to

any direction given by the Minister, such Treasury Bills and Treasury Notes

together with such further Treasury Bills and Treasury Notes as shall be

required to pay off at maturity Treasury Bills and Treasury Notes already

lawfully issued.

Short title.

Interpreta-

tion.

2 of 1980.

15 of 1993.

15 of 1993.

15 of 1993.

1 of 1972.

2 of 1980.

19 of 1986.

22 of 1987.

15 of 1993.

CAP. 65, R.E. 1980-1990.

Authority to

issue

Treasury Bills

and Treasury

Notes.

Treasury Bills

THE SUBSTANTIVE LAWS OF BELIZE REVISED EDITION 2000

5

Printed by the Government Printer,

No. 1 Power Lane,

Belmopan, by the authority of

the Government of Belize.

[ ]

[CAP. 83

(2) The principal sums represented by any Treasury Bills and Treasury

Notes outstanding at any one time shall not exceed in the aggregate -

(i) in the case of Treasury Bills, the sum of seventy

million dollars;

(ii) in the case of Treasury Notes, the sum of twenty-

five million dollars,

or such other sums as the Minister shall with the approval of the House of

Representatives authorize. The resolution of the House giving such approval

shall be published in the next following issue of the Gazette.

4. The principal sums represented by any Treasury Bills and Treasury

Notes issued under this Act and any interest thereon are charged upon and

shall be payable out of the Consolidated Revenue Fund.

5. The proceeds of issue of the Treasury Bills and Treasury Notes issued

under this Act shall be paid into the Consolidated Revenue Fund.

6. The expenses necessarily incurred in connection with the issue of

Treasury Bills and Treasury Notes under this Act shall constitute a charge

on, and shall be paid from, the Consolidated Revenue Fund.

15 of 1993.

15 of 1993.

15 of 1993.

15 of 1993.

15 of 1993.

Principal sum

represented by

Treasury Bills

and Treasury

Notes to be

charged on

Consolidated

Revenue Fund.

Proceeds of

Treasury Bills

and Treasury

Notes.

15 of 1993.

Expenses of

issue of

Treasury Bills

and Treasury

Notes.

15 of 1993.

Treasury Bills

THE SUBSTANTIVE LAWS OF BELIZE REVISED EDITION 2000

Printed by the Government Printer,

No. 1 Power Lane,

Belmopan, by the authority of

the Government of Belize.

6

[ ]

CAP. 83 ]

7.-(1) Every Treasury Bill shall be expressed to be issued in respect of a

sum of two hundred dollars or a multiple thereof and shall be payable at par

at a date not more than twelve months from the date of issue.

(2) Every Treasury Note shall be expressed to be issued in respect of

a sum of one thousand dollars or a multiple thereof and shall be payable at

par at a date not less than one year and not more than five years from the

date of issue.

8. The issue of Treasury Bills and Treasury Notes by the Financial

Secretary in the form prescribed by rules made under section 9 shall be

sufficient evidence on behalf of any holder thereof that the authority of the

Minister had been given for such issue in accordance with section 3 and that

such issue has been made in accordance with the provisions of this Act.

9. The Minister may make rules to prescribe or provide for-

(a) the preparation, form, mode of issue, mode of payment and

cancellation of Treasury Bills and Treasury Notes;

(b) the issue of a new Bill or Note in lieu of one which has been

defaced, lost or destroyed;

(c) such other matters as may seem necessary to him for the

purposes of giving effect to the provisions of this Act.

Power to make

rules.

15 of 1993.

Issue of

Treasury Bills

and Treasury

Notes to be

sufficient

evidence that

authority of

Minister given.

15 of 1993.

Amounts and

currency of

Treasury Bills

and Treasury

Notes.

15 of 1993.