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Minister for Finance may redeem External Loan.
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6.—(1) It shall be lawful for the Minister to take such steps as he shall think proper to ascertain the names and other particulars of all subscribers to the External Loans or either of them and the amounts subscribed by them respectively.
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(2) The Minister may at any time issue to every subscriber to the External Loans or either of them a stock certificate for a sum equal to the amount so subscribed by him.
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(3) The Minister may at any time redeem all or any of the stock certificates issued under this section either
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(a) by paying to the holder thereof a sum equal to the nominal amount of the certificate together with interest on that amount at the rate of five per cent. per annum from the date on which the amount aforesaid was fully subscribed to the Loan to the date of redemption, or
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(b) by purchasing such certificates for such price as the Minister shall think proper.
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(4) The Minister may, subject to the provisions of this section, make regulations governing the issue transfer devolution and redemption of stock certificates issued under this section.
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(5) There shall be charged on the Central Fund or the growing produce thereof such sum as shall be required to redeem in manner hereinbefore provided all stock certificates issued under this section and to meet the expenses in connection with the issue and redemption of such stock certificates.
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