International Bank Loan Act, 1963
- Commenced on 1 January 1964
- [This is the version of this document at 31 December 1996.]
1. Short titleThis Act may be cited as the International Bank Loan Act.
2. InterpretationIn this Act, the expression "the loan" means the loan made by the International Bank for Reconstruction and Development to the former Federation of Rhodesia and Nyasaland in an aggregate principal amount equivalent to nineteen million dollars pursuant to a loan agreement dated the 16th June, 1958, between the former Federation of Rhodesia and Nyasaland and the International Bank of Reconstruction and Development.
3. Assumption by Government of liability for one-half of loanThe Government hereby assumes one-half of the obligation of the former Federation of Rhodesia and Nyasaland to pay principal, interest and other charges and premium, if any, in respect of the loan.
4. Sums borrowed and interest and other charges and premium, if any, charged on and payable out of general revenues and assets
5. Power to issue instruments, including bondsNotwithstanding anything contained in any other written law, the Government is hereby authorised to issue such instruments, including bonds, as may be necessary for the purpose of any agreement which may have been entered into or may after the commencement of this Act be entered into by the Government with the International Bank for Reconstruction and Development in respect of the obligation assumed under section three.
History of this document
31 December 1996 this version
01 January 1964