First Schedule (Section 2)
Loan Agreements
|
Person |
|
Agreement |
1. |
The International Bank for Reconstruction and Development. |
1. |
Agreement dated 21st June, 1956, between the International Bank for Reconstruction and Development and the Federal Power Board for the loan of an amount in various currencies equivalent to eighty million dollars. |
2. |
The Commonwealth Development Corporation. |
2. |
Agreement dated 12th July, 1956, between the Commonwealth Development Corporation, the Federal Power Board and the Government of the Federation of Rhodesia and Nyasaland for the loan of fifteen million pounds sterling. |
3. |
The Commonwealth Development Finance Company Limited. |
3. |
Agreement dated 12th July, 1956, between the Commonwealth Development Finance Company Limited, the Federal Power Board and the Federation of Rhodesia and Nyasaland for the loan of three million pounds sterling. |
Second Schedule (Section 2)
Clause in Agreement with the International Bank for Reconstruction and Development
Section 3.01. It is the mutual intention of the Government and the Bank that no external debt shall enjoy any priority over the Loan by way of a lien on governmental assets. To that end the Government undertakes that, except as the Bank shall otherwise agree, if any lien shall be created on any assets of the Republic as security for any external debt, such lien shal ipso facto equally and rateably secure the payment of one-half of the principal of, and one-half of the interest and other charges on, the Loan and the Bonds, and that in the creation of any such lien express provision will be made to that effect; provided, however, that the foregoing provisions of this section shall not apply to: (i) any lien created on property, at the time of purchase thereof, solely as security for the payment of the purchase price of such property; (ii) any lien on commercial goods to secure a debt maturing not more than one year after the date on which it is originally incurred and to be paid out of the proceeds of sale of such commercial goods; or (iii) any lien arising in the ordinary course of banking transactions and securing a debt maturing not more than one year after its date.The term "assets of the Republic" as used in this section includes assets of the Republic or of any of its political subdivisions or of any agency of the Republic or of any such political subdivision, including its share of the assets of the Bank of Rhodesia and Nyasaland or of any successor agency fulfilling similar functions in the Republic.The term "lien" shall include mortgages, pledges, charges, privileges and priorities of any kind.
Third Schedule (Section 3)
Loan indebtedness
|
Person |
Loan indebteness (in local currency)K
|
1. |
Barclays Bank D.C. and O. |
2,000,000 |
2. |
Indaba Investments |
4,000,000 |
3. |
Mufulira Copper Mines Limited |
4,412,000 |
4. |
Nchanga Consolidated Copper Mines Limited |
6,759,000 |
5. |
Roan Selection Trust Limited |
3,401,000 |
6. |
Rhokana Corporation Limited |
3,522,000 |
7. |
Standard Bank Limited |
2,000,000 |