Development Loan Authorisation Act

Link to law: http://www.palemene.ws/new/wp-content/uploads/01.Acts/Acts%202005/Development_Loan_Authorisation_Act_2005_-_Eng.pdf
Published: 2005

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Arrangement of Provisions

1. Short title and
commencement
2. Authority to borrow by way
of Treasury Bonds

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2005, No.15

AN ACT to authorise borrowings by way of Treasury Bonds
for the purpose of expenditure in the 2005-2006
Financial Year for the further development of Samoa.
[28th
June 2005]

BE IT ENACTED by the Legislative Assembly of Samoa in
Parliament assembled as follows:

1. Short title and commencement-(1) This Act may be
cited as the Development Loan Authorisation Act 2005.
(2) This Act shall commence on the date of assent by the
Head of State.
(3) Notice of commencement of this Act shall be published
in Samoan and English in the Savali and one other newspaper
circulating in Samoa.

2. Authority to borrow by way of Treasury Bonds – For
the purpose of expenditure in the 2005-2006 Financial Year for
the further development of Samoa, the Minister of Finance is
authorised on behalf of the Government and subject to the
provisions of the Public Finance Management Act 2001 and in
4 Development Loan Authorisation 2005 2005, No.15

particular Schedule 3 of such Act, to borrow in Samoa by way
of Treasury Bonds during the financial year commencing on the
1st day of July 2005 and ending on the 30
th day of June 2006 an
amount not exceeding SAT$26.5million as follows:

Amount of Treasury Bonds Date of Maturity from
Date of Issue

1. SAT$10million 5 years
2. SAT$10million 10 years
3. SAT$6.5million 15 years



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The Development Loan Authorisation Act 2005 is administered in
the Ministry of Finance