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Loan (Local) Act 1961 Part IV — Provisions relating to redemption of stock

s 11–s 13 · 3 sections

Redemption of stock

s 11

Stock issued under this Act shall be redeemable at par on such dates as may be specified in the prospectus, after which dates all the interest on the principal moneys represented thereby shall cease and determine, whether payment of such principal moneys shall have been demanded or not.

Repayment of stock

s 12

The repayment of all principal moneys represented by stock issued under this Act at the time when the same become due shall be made by the Minister out of the Consolidated Fund.

Delivery up of stock on repayment

s 13

Before the repayment of the principal moneys represented by any stock issued under this Act, such stock shall be delivered up for cancellation to the Bank.

Back to Loan (Local) Act 1961 — full text

Provisions on this page are reproduced verbatim from official open data. See the attribution line.

Text as at 30 March 2006 (LOM reprint); amendments made after that date may not be incorporated. Read the official text ↗

Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).

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