Mode of providing for payment of interest on debentures

(1) So long as any of the debentures remain outstanding, the Minister shall, in each half-year ending with the day on which the interest on the debentures 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 debentures issued, including any which may have been redeemed, but excluding any which may have been at any time exchanged for stock, and shall remit that sum to the Crown Agents at such time as will enable them to pay thereout the then current half- year’s interest on the day on which it falls due. (2) Debentures shall not be deemed to be outstanding for the purpose of this Act by reason only that one or more of the debentures have not been presented for payment on the day appointed for payment and have, in consequence, not been paid.