Resolution of Parliament to Raise Funds
by the Issue of Savings Bonds – Section 3 (Statutory Instrument 62/2022)
Statutory Instrument 62/2022 .. in force 16 May 2022
Commencement [16 May 2022]
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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 XCD2,400,000,000.00, for financing such capital or other expenditure and for such debt refinancing, as he or she determines;
AND WHEREAS it is further provided under 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 directs;
AND WHEREAS the Minister of Finance considers it necessary to raise —
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(a) the amount of XCD$79,700,000.00 for financing the 2022/23 Budget;
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(b) the amount of XCD$655,800,000.00 for refinancing existing debts;
BE IT RESOLVED that Parliament authorizes the Minister of Finance to raise —
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(a) the amount of XCD$79,700,000.00 for financing the 2022/23 Budget;
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(b) the amount of XCD$655,800,000.00 for refinancing existing debts.