Government Loans (Conversion) Act, 1951

Creation and issue of securities.

4.—(1) The Minister may create and issue securities for the purpose (whether alone or with other purposes) of the conversion under this Act of the stock of a Government.

(2) Securities under this section shall bear such rate of interest and be subject to such conditions as to repayment, redemption or otherwise as the Minister thinks fit.

(3) The principal and interest of securities under this section shall be charged on the Central Fund or the growing produce thereof.