CAP. 84 BELIZE DEFENCE FUND ACT BELIZE
BELIZE DEFENCE FUND ACT
CHAPTER 84
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 DEFENCE FUND ACT 4
Amendments in force as at 31st December, 200
BELIZE
BELIZE DEFENCE FUND ACT
CHAPTER 84
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 DEFENCE FUND ACT 4
Amendments in force as at 31st December, 200
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.
Belize Defence Fund [CAP. 84
[ ]
3
CHAPTER 84
BELIZE DEFENCE FUND
ARRANGEMENT OF SECTIONS
1. Short title.
2. Interpretation.
3. Authority to borrow.
4. Belize Defence Fund.
5. Application of loan.
6. Method of raising loan.
7. Loans, etc., to be charged on the Consolidated Revenue Fund.
8. Mode of providing for payment of interest on bonds and for
contributions to sinking fund.
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CHAPTER 84
BELIZE DEFENCE FUND
[20th December, 1993]
1. This Act may be cited as the Belize Defence Fund Act.
2. In this Act, “Minister” means the Minister responsible for finance.
3. The Minister may raise by loan an amount sufficient to produce as
nearly as may be the sum of twenty-five million dollars, and such further sum
as may be necessary to defray the expenses of issue.
4.-(1) There is hereby established a fund to be known as the Belize
Defence Fund to meet the expenses connected with the Belize Defence
Force.
(2) All sums raised under the provisions of this Act shall be paid into the
Belize Defence Fund established under this section.
5.-(1) Any sums raised to defray the expenses of issue shall be applied
only to that purpose.
(2) Save as aforesaid, all sums borrowed under this Act shall be
appropriated and applied to the expenses connected with the Belize De-
fence Force.
6.-(1) The loan hereby authorised, or any part thereof, may be raised in
Belize under the provisions of the Local Public Loans Act by the issue of
Defence Bonds with a maturity period of up to fifteen years.
1
This Act came into force on the 20th day of December, 1993, the day it received the assent
of the Governor-General.
18 of 1993.
Commencement.1
Short title.
Interpretation.
Authority to
borrow.
Belize Defence
Fund.
Application of
loan.
Method of raising
loan.
CAP. 80.
,
No. 1 Power Lane,
Belmopan, by the Authority of
the Government of Belize.
Belize Defence Fund [CAP. 84
[ ]
5
(2) The expression “debentures” appearing in the said Public Loans Act
shall be deemed to include Defence Bonds referred to in subsection (1)
above.
7. All amounts are hereby charged on and shall be payable out of the
Consolidated Revenue Fund and assets of the Government of Belize as may
be required for the repayment of any sums borrowed under the powers
conferred by this Act and all interest and other charges on any such sums.
8.-(1) So long as any of the Defence Bonds remain outstanding the Minister
shall, in each half-year ending with the day on which the interest on the
Defence Bonds falls due, appropriate out of the Consolidated Revenue Fund
and assets of Belize a sum equal to one half-year’s interest on the whole of
the Defence Bonds issued, including any which may have been redeemed.
(2) The Minister shall also in the half-year ending on the date specified in
the terms of issue of the loan as that on which the first contribution to the
sinking fund shall be taken and in each subsequent half-year appropriate out
of the Consolidated Revenue Fund and assets of Belize for the formation of a
sinking fund an additional sum equal to one-half of the annual contribution to
be decided upon by the Minister on the issue of the loan.
(3) The contributions to the sinking fund referred to in subsection (2)
above shall commence not later than three years after the date from which the
interest on the Defence Bonds issued under this Act commences to run.
(4) The contribution shall be in respect of the total nominal amount of all
Defence Bonds issued, including any which may have been redeemed.
(5) Defence Bonds shall not be deemed to be outstanding for the
purposes of this Act by reason only that one or more of the Defence Bonds
have not been presented for payment on the day appointed for payment and
have, in consequence, not been paid.
CAP. 80.
Loans, etc.,
to be charged
on the
Consolidated
Revenue Fund.
Mode of
providing for
payment of
interest on
bonds and for
contributions to
sinking fund.
