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Local Public Loans

Cap. 80 · Revised Edition 2020 · 17 sections

• s. 1Short title
• s. 2Interpretation
• s. 3Scope
• s. 4Loans to be raised by debentures
• s. 5Loans to be a charge upon Consolidated Revenue Fund
• s. 6Borrowing upon debentures
• s. 7Amount of each debenture
• s. 8Debentures may be either fixed-date or drawing debentures
• s. 9Debentures to be registered and transferable by instrument in writing
• s. 10Form of debentures
• s. 11Payment of interest
• s. 12Mode of providing for payment of interest on debentures and for contributions to sinking fund
• s. 13Creation of sinking fund for redemption of debentures payable on a fixed date
• s. 14Disposal of sinking fund when debentures are redeemed by purchase or by annual drawings
• s. 15Cesser of interest from day appointed for payment of principal
• s. 16Redeemed debentures to be cancelled
• s. 17Expenses of redemption to be borne by sinking fund