Zambia
Development (United Kingdom Government) Loan Act, 1960
Chapter 373
- Commenced on 19 August 1960
- [This is the version of this document at 31 December 1996.]
1. Short title
This Act may be cited as the Development (United Kingdom Government) Loan Act.2. Interpretation
In this Act, unless the context otherwise requires—"the Capital Fund" means the Fund established in accordance with a motion adopted by the Legislative Council of the former Protectorate of Northern Rhodesia on the 19th July, 1955;"the Capital Fund Estimates" means those estimates of expenditure from the Capital Fund which are approved specifically by the National Assembly from time to time by motion.[As amended by G.N. No. 315 of 1964 and S.I. No. 159 of 1965]3. Authority to raise loans
4. Application of money borrowed
All moneys borrowed under the provisions of this Act shall be appropriated and applied to any of those purposes of the Capital Fund Estimates which may, in accordance with the provisions of the Act, be approved by one of Her Brittanic Majesty's Secretaries of State and the National Assembly from time to time and to no other purpose.[As amended by G.N. No. 315 of 1964 and S.I. No. 159 of 1965]5. Repayment of money borrowed
Any loan raised under the provisions of this Act, together with the interest payable on such loan, shall be repaid by equal annual instalments of capital and interest so that such loan shall be repaid within the period for which the same was granted.6. Charge on revenues and assets
All principal moneys borrowed under the provisions of this Act, together with all interest payable thereon, are hereby charged upon and shall be payable out of the general revenues and assets of the Republic.[As amended by S.I. No. 159 of 1965]History of this document
31 December 1996 this version
Consolidation
19 August 1960
Commenced