Powers of Minister

(1) The Minister shall also have, and may from time to time exercise, the following powers and authorities or any of them, (a) he may authorise the Crown Agents when issuing any loan in the form of debentures to declare that the will be convertible into stock at such dates and on the terms and conditions as may be prescribed by the Crown Agents at the time of the issue of the debentures; (b) he may declare all or any of the loans of Belize, whether existing in the form of stock or debentures, and whether issued before or after the commencement of this Act, to be convertible into stock, to be issued under the provisions of this Act; (c) he may authorise the creation and issue of such an amount of stock in exchange for the securities held for such loans as may be necessary; (d) he may authorise the creation and sale of any such stock or debentures for the purpose of raising money for redeeming any outstanding loans whether issued before or subsequent to the passing of this Act, for paying any expense in the creation of stock, and otherwise for carrying out the provisions of this Act. (2) Any conversion authorised under this section may be effected either by an arrangement with the holders of existing securities or by purchase thereof out of moneys raised by the sale of stock, or partly in one way and partly in the other. 14