Authority to issue Treasury Bills and Treasury Notes

(1) Subject to this Act, the Minister is hereby authorised to borrow by the issue in Belize of Treasury Bills and Treasury Notes, and the Financial Secretary, when authorised in writing in that behalf by the Minister, may for that purpose issue in Belize, within the terms of the authority and subject to any direction given by the Minister, such Treasury Bills and Treasury Notes together with such further Treasury Bills and Treasury Notes as shall be required to pay off at maturity Treasury Bills and Treasury Notes already lawfully issued. (2) The principal sums represented by any Treasury Bills and Treasury Notes outstanding at any one time shall not exceed in the aggregate– (a) in the case of Treasury Bills, the sum of four hundred million dollars; or (b) in the case of Treasury Notes, the sum of “one billion two hundred million dollars, or such other sums as the Minister shall with the approval of the House of Representatives authorize. The resolution of the House giving such approval shall be published in the next following issue of the Gazette. Fund. 15 of 1993.