Development Bond Act
ZambiaAct of Parliament
The Development Bond Act is an Act of the Parliament of Zambia. It contains 18 sections. Read its sections below, or ask Levy any question about the Development Bond Act and get an answer grounded in the Act with citations.
Sections of the Development Bond Act
- S. 1This Act may be cited as the Development Bond Act. Short title
- S. 2In this Act, unless the context otherwise requires- Interpretation
- S. 3(1) The Minister may raise loans by the issue and sale within the Republic of Power to raise loans
- S. 4All moneys raised under this Act shall be paid into the general revenues of the Moneys raised to be
- S. 5(1) Save- Secrecy concerning
- S. 6R egulations
- S. 7The Local Loans (Registered Stock and Securities) Act shall not have effect in Cap. 353 not to apply
- S. 8(1) The Bank shall maintain a register of bonds which shall record the name and Register of bonds
- S. 9The register or any copy of an entry therein which is duly certified by or on Evidence
- S. 10No interest or other benefits shall be payable on any bonds- Interest not payable in
- S. 11H older of bonds becoming subject to legal disability or dying
- S. 12E ncashment of bonds
- S. 13B ond certificates not negotiable
- S. 14N otice of trust not receivable by Bank
- S. 15T ransfer of bonds
- S. 16P ayment of Bank
- S. 17(1) A holder shall forthwith notify the Bank in the event of a bond certificate Lost or damaged bond
- S. 18(1) No liability shall attach to the Government, the Bank or any officer of the Indemnity