Revised Laws of Saint Lucia (2023)

RESOLUTION OF PARLIAMENT TO RAISE FUNDS
BY THE ISSUE OF SAVINGS BONDS – SECTION 3

Commencement [1 June 2015]

RESOLUTION

WHEREAS it is provided by section 3 of the National Savings and Development Bonds Act, that under the authority of Parliament, the Minister responsible for Finance may raise, by the issue of savings bonds inside and outside Saint Lucia, money up to the amount of $1,800,000,000.00, for financing such capital or other expenditure and for such debt refinancing, as he or she may determine;

AND WHEREAS it is further provided by section 4 of the National Savings and Development Bonds Act, that the bonds shall be issued in such form and on such terms and conditions as the Minister responsible for Finance may direct;

AND WHEREAS the Minister responsible for Finance deems it necessary to raise —

1.  

   (a)     a sum of EC$189,000,000.00 for financing the 2015/2016 Budget;

1.  

   (b)     a sum of EC215,000,000.00 for refinancing the existing debts on the Regional Government Securities Market;

BE IT RESOLVED that Parliament authorises the Minister for Finance to raise —

1.  

   (a)     a sum of EC$189,000,000.00 for financing the 2015/2016 Budget;

1.  

   (b)     a sum of EC$215,000,000.00 for refinancing the existing debts on the Regional Government Securities Market.