Specific Loan (Rhodesia Railways) Act

The Laws of Zambia
Copyright Ministry of Legal Affairs, Government of the Republic of Zambia
REPUBLIC OF ZAMBIA
SPECIFIC LOAN (RHODESIA RAILWAYS
CHAPTER 370
CHAPTER 370 SPECIFIC LOAN (RHODESIA RAILWAYS)
SPECIFIC LOAN (RHODESIA RAILWAYS)
47 of 1950
An Act to authorise the raising of a sum of seven million five hundred and forty
thousand pounds by way of loan. [22nd December, 1950]
1. This Act may be cited as the Specific Loan (Rhodesia Railways) Act. Short title
2. In this Act, unless the context otherwise requires- Interpretation
"Governor" means the Governor of the former Protectorate of Northern Rhodesia. 3. The Governor is hereby authorised to issue debentures or stock or both under
the provisions of the General Loan and Stock Act, to an amount sufficient to produce as
nearly as may be the sum of seven million five hundred and forty thousand pounds
sterling, and such further sum as may be necessary to defray the expenses of issue. Authority to borrow by
issue of debentures or
stock. Cap. 350
4. (1) Any sum raised to defray the expenses of issue shall be applied only to that
purpose.

ority to borrow by
issue of debentures or
stock. Cap. 350
4. (1) Any sum raised to defray the expenses of issue shall be applied only to that
purpose.

Application of loan
(2) Save as aforesaid, the money to be borrowed under the authority of this Act
shall be appropriated and applied to the purposes specified in the Schedule.

The Laws of Zambia
Copyright Ministry of Legal Affairs, Government of the Republic of Zambia
5. Contributions to the sinking fund, as contemplated by the provision of sections
fourteen and twenty-seven of the General Loan and Stock Act, shall commence in respect
of any debentures or stock issued under this Act not later than three years after the date
from which the interest on such debentures or stock shall commence to run.
Commence-ment of
contribution to sinking
fund.
Cap. 350
6. Pending the issue of the whole or any portion of the loan hereby authorised, the
President may, if necessary, raise instalments of the money as required by the issue of
treasury bills under the Treasury Bills Act.
Powers to issue
treasury bills
Cap. 348
SCHEDULE
(Section 4)
APPLICATION OF LOAN
£
Loan to Rhodesia Railways for capital expenditure . . . . 7,500,000
Stock Transfer Stamp Duty Fund . . . . . . . . . . 40,000
_________
£7,540,000