Loan Act
ZambiaAct of Parliament
The Loan Act is an Act of the Parliament of Zambia. It contains 39 sections. Read its sections below, or ask Levy any question about the Loan Act and get an answer grounded in the Act with citations.
Sections of the Loan Act
- S. 1This Act may be cited as the General Loan and Stock Act. Short title
- S. 2I nterpretation
- S. 3L oans to be raised by debentures or stock
- S. 4L oans to be a charge upon general revenues
- S. 5B orrowing upon debentures
- S. 6A mount of each debenture
- S. 7The debentures shall be redeemable at par at the option of the Government by Debentures may be
- S. 8There shall be attached to every debenture coupons for the payment of the Interest coupons
- S. 9F orm of debentures and coupons
- S. 10D ebentures and coupons transferable by delivery
- S. 11R egistry of debentures
- S. 12P ayment of interest
- S. 13M ode of providing for payment of interest on debentures
- S. 14F urther sums to be remitted for the redemption of debentures
- S. 15A pplication of sinking fund
- S. 16In the case of debentures redeemable on a date to be named when issuing the Creation of sinking
- S. 17In the case of debentures redeemable by annual drawings, the Crown Agents Disposal of sinking
- S. 18A ppointment of day for drawing of debentures
- S. 19N otice of time and place appointed for drawing
- S. 20M ode of drawing
- S. 21N otice of debentures drawn for redemption
- S. 22P ayment of drawn debentures
- S. 23C esser of interest from day appointed for payment of principal
- S. 24R edeemed debentures to be cancelled
- S. 25D ate of redemption of stock
- S. 26M ode of providing for payment of interest on stock
- S. 27P rovision for payment of principal of stock
- S. 28C reation of sinking fund
- S. 29C esser of sinking fund contributions
- S. 30C harge upon general revenues
- S. 31All expenses of or incidental to the management of the sinking fund, or to the Expenses to be paid
- S. 32The Minister shall also have, and may from time to time exercise, the following Powers of Minister
- S. 33E xchange of securities for stock
- S. 34The securities exchanged or otherwise converted into stock under the Converted securities
- S. 35The trustees of the sinking fund appointed under this Act, and acting under any Trustees to apportion
- S. 36S inking funds released: how to be disposed of
- S. 37C reation, inscription, issue, conversion and transfer of stock
- S. 38Authority is hereby given for the making of regulations under section 16 of the Making of regulations
- S. 39Nothing in this Act contained shall prevent the raising of loans in the Republic Raising of loans in the