LOANS (CANADA, UNITED STATES OF AMERICA AND OTHER SPECIFIED COUNTRIES) ACT

ARRANGEMENT OF SECTIONS

   1   Short title

 

PART I
Introductory

   2   Interpretation

   3   Application

   4   Power to appoint Agents

   5   Raising of loans by debentures and stock

   6   Principal moneys and interest charged upon Consolidated Fund and assets of the Government

 

PART II
Debentures

   7   Issue of debentures

   8   Value of debentures

   9   Redemption of debentures

   10   Form of debentures and coupons

   11   Transferability of debentures, interest and coupons therefor

   12   Interest on debentures

   13   Sinking fund

   14   When interest shall cease

   15   Cancellation of debentures

   16   Issue of stock

 

PART III
Stock

   17   Redemption of stock

   18   Interest on unredeemed stock

   19   Sinking fund

   20   When interest shall cease

 

PART IV
General

   21   The Agents may make arrangements for certain matters

 

THE LOANS (CANADA, UNITED STATES OF AMERICA AND OTHER SPECIFIED COUNTRIES) ACT

[Date of Commencement: 4th February, 1957]

Laws
2 of 1957,
6 of 1962.

Acts
35 of 1967,
18 of 1972.

1   Short title

   This Act may be cited as the Loans (Canada, United States of America and other Specified Countries) Act.

PART I
Introductory

2   Interpretation

   (1) In this Act-

   "Agents" means the Agents appointed by the Minister pursuant to section 4;

[35/1967 s 2(b).]

   "country of issue" means Canada or the United States of America or both such countries, as the case may be; "dollars" means dollars current in Canada or in the United States of America whether the country of issue is Canada or the United States of America or both such countries:

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[35/1967 s 2(a).]

   "stock" means registered stock, that is to say, stock transferable by instrument in writing.

   (2) References in sections 5 and 6 to debentures shall be deemed to include references to promissory notes and, accordingly, the provisions of Parts II and IV shall apply, in relation to any promissory note issued pursuant to this Act, as they apply to debentures, subject to the terms of the note and with such other modifications as may be necessary.

[35/1967 s 2(c).]

3   Application

   (1) Subject to subsection (2) this Act shall be applicable to the raising of loans in Canada and the United States of America but nothing herein shall prevent the raising by the government of loans in the Island, in England or in any other country upon such terms and conditions as shall be specified in any enactment authorising the raising of such loans.

[6/1962 s 3(a) and (b).]

   (2) The Minister may from time to time where he is satisfied that it is expedient so to do by order declare that this Act shall be applicable to the raising of loans in any country named in the order and thereupon the provisions of this Act shall-

[6/1962 s 3(c).]

   (a)   subject to any adaptations or modifications specified in the order apply as respects such country in like manner as they apply in the case of Canada or the United States of America; and

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