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Revised Laws of Saint Lucia
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PUBLIC DEBT MANAGEMENT ACT
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PART 1 ADMINISTRATION
Revised Laws of Saint Lucia (2023)
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PART 1
ADMINISTRATION
Division 1
Responsibilities of the Minister
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PART 1 ADMINISTRATION
ACT
PRELIMINARY
1. Short title
2. Interpretation
3. Act binds the Crown
4. Powers of the Minister
5. Validity of document signed by agent
6. Contents of agency agreement
7. Delegation of powers
8. Reporting to Parliament
9. Requirement for Minister to lay Strategy and Borrowing Plan before Parliament
10. Supervision of the Unit
11. Functions of the Unit
12. Debt Management Objectives
13. Medium-Term Debt Management Strategy
14. Borrowing Plan
15. Public Debt Sustainability Analysis
16. Audit of the Unit
17. Appointment of the Public Debt Management Advisory Committee
18. Constitution of the Committee
19. Functions of the Committee
20. Meetings of the Committee
21. Quorum
22. Committee to regulate its procedures
PART 2 GOVERNMENT BORROWING
23. Government borrowing to meet fiscal requirements
24. Terms and conditions for Government borrowing
25. Issue of certificate
26. Duplicate certificate
27. Proceeds of funds borrowed by Government
28. Effecting payment
29. Repayment
30. Tax on interest from income from Government securities and deduction at source
31. Register of Government Securities
32. Government borrowing by treasury bonds and treasury notes
33. Conditions for issue of treasury bonds and treasury notes
34. Interest on treasury bonds and treasury notes
35. Effect of treasury bonds and treasury notes on the death of holder
36. Government borrowing by treasury bills
37. Conditions for the issue of treasury bills
38. Amount and currency of treasury bills
PART 3 GOVERNMENT GUARANTEES
39. Interpretation of this Part
40. Application for Government guarantee
41. Evaluation of an application for Government guarantee
42. Recommendation of the Unit
43. Notice of approval of an application for Government guarantee
44. Grant of Government guarantee
45. Notice of refusal of an application for Government guarantee
46. Execution of Government guarantee
47. Payment of fees and other expenses relating to Government guarantee
48. Default by borrower on Government guarantee
49. Recovery of money paid by the Government on behalf of the borrower
50. Register of Government Guarantees
51. Reporting on debt
PART 4 GOVERNMENT ON-LENDING
52. Ceiling amount for Government on-lending
53. Application for Government on-lending
54. Evaluation of an application for Government on-lending
55. Recommendation of the Unit
56. Notice of approval of an application for Government on-lending
57. Grant of Government on-lending
58. Notice of refusal of an application for Government on-lending
59. On-lending agreement
60. Payment of interest
61. Fees for Government on-lending
62. Recovery of money paid by the Government on behalf of the borrower
PART 5 MISCELLANEOUS
63. Unauthorized debt management activity
64. Confidentiality of information
65. Exemption from stamp duty
66. Regulations
67. Repeal
68. Savings
69. Transitional
SUBSIDIARY LEGISLATION