Revised Laws of Saint Lucia (2021)

5.   Minister empowered to raise loans for purposes of Bank Agreement

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    (1)   The Minister may borrow from any person any sum or sums required for payments under section 4 or for replacing any sum or sums paid out of the Consolidated Fund under that section and, for the purpose of such borrowing, may create and issue any securities bearing such rate of interest and subject to such conditions as to repayment, redemption or otherwise, as he or she thinks fit.

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    (2)   The principal and interest of any securities issued under subsection (1) and any expenses incurred in connection with their issue shall be charged on and paid out of the Consolidated Fund.

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    (3)   Any monies raised by securities issued under subsection (1) shall be paid into the Consolidated Fund.