CHAPTER 353 - LOCAL LOANS (REGISTERED STOCK AND SECURITIES) ACT
INDEX TO SUBSIDIARY LEGISLATION
Local Loans (Substituted Bonds and Stock) Regulations
Local Loans (Registered Stock) Regulations
LOCAL LOANS (SUBSTITUTED BONDS AND STOCK) REGULATIONS
[Section 35]
Arrangement of Regulations
Regulation
PART I
PRELIMINARY
1. Title
2. Interpretation
3. Application
PART II
REGISTRATION OF SUBSTITUTED BONDS AND STOCK
4. Register of stock
5. Issue of certificates
6. Specifications of certificates
PART III
TRANSFER OF SUBSTITUTED BONDS AND STOCK
7. Transfer by instrument in writing
8. Execution of instrument of transfer
9. Transfer to be entered in register
10. Transferor deemed to remain holder
11. Conditions of transfer
12. Evidence may be required
13. Period and notice of transfer
PART IV
REPRESENTATIVE STOCKHOLDERS
14. Transfer by executors, etc.
15. Trustees
16. Notice of trust not required to be entered in register or certificate
PART V
PAYMENT OF INTEREST ON SUBSTITUTED BONDS AND STOCK
17. Payment of interest
18. Closing of register
PART VI
MISCELLANEOUS PROVISIONS
19. Authority for transfer and power of attorney
20. Where Registrar may refuse to recognise instrument
21. Execution of instruments by bodies corporate
[Regulations by the Minister]
SI 190 of 1965.
PART I
PRELIMINARY
These Regulations may be cited as the Local Loans (Substituted Bonds and Stock) Regulations.
In these Regulations, unless the context otherwise requires—
“certificate” means a certificate or a duplicate certificate issued in terms of regulation 5 representing an amount of substituted bonds or stock;
“register” means a register kept in terms of regulation 4 in respect of an issue of substituted bonds or stock;
“Registrar” means a registrar appointed under the provisions of sub-section (2) of section 35 of the Act;
“stockholder” means a person who is a holder for the time being of an amount of substituted bonds or stock.
“the Order in Council” means the Federation of Rhodesia and Nyasaland (Dissolution) Order in council, 1963;
These Regulations shall only apply to substituted bonds or stock issued under section 12 of the Order in council and section 35 of the Act.
PART II
REGISTRATION OF SUBSTITUTED BONDS AND STOCK
(1) The Registrar shall keep a register in respect of every issue of substituted bonds or stock, wherein shall be entered—
(a) the names and addresses of all stockholders; and
(b) the amount of the substituted bonds or stock of that issue held by such stockholders.
(2) In the event of the redemption of any issue of substituted bonds or stock, the Registrar may close the register relating to such issue for transfers of amounts of substituted bonds or stock of that issue for a period of not more than thirty days immediately preceding the redemption date.
(1) Every person—
(a) whose name is entered in a register at the time of issue of any substituted bonds or stock as being the holder of an amount of such substituted bonds or stock; or
(b) to whom an amount of any substituted bonds or stock is transferred;
shall be entitled, without payment, to be issued by the Registrar with a certificate or certificates representing that amount of such substituted bonds or stock.
(2) If a certificate is defaced, lost or destroyed, the Registrar may issue a duplicate certificate subject to—
(a) the payment to the Registrar of a charge equivalent to the actual costs thereby incurred by the Registrar;
(b) where the duplicate certificate is issued in respect of a defaced certificate, the surrender to the Registrar of the defaced certificate; and
(c) such other conditions as the Registrar may reasonably deem necessary.
(3) If an amount of any substituted bonds or stock is transferred and the provisions of regulation 11 have been satisfied in respect of an amount of substituted bonds or stock exceeding the amount specified in the instrument of transfer, the person by whom the amount was transferred shall be entitled, without payment, to be issued by the Registrar with a certificate representing the amount of the excess.
(4) Notwithstanding anything in this regulation contained, where the names of two or more persons are entered in a register as being joint stockholders, it shall not be necessary for the Registrar to issue more than one certificate in respect of the amount of substituted bonds or stock in respect of which such persons are joint stockholders, and the delivery of a certificate representing that amount of substituted bonds or stock to one of the several joint stockholders shall be sufficient delivery to all of them.
6. Specifications of certificates
(1) A certificate shall specify the amount and issue of the substituted bonds or stock of which the person specified therein is the holder, and shall be signed by the Registrar or a person authorised in that behalf by the Registrar and by such other person as the Registrar may direct.
(2) A certificate shall be evidence of the title of the person specified therein to the amount of substituted bonds or stock of the issue specified therein.
PART III
TRANSFER OF SUBSTITUTED BONDS AND STOCK
7. Transfer by instrument in writing
Subject to the provisions of these Regulations, substituted bonds or stock shall be transferable by instrument in writing in any usual or common form executed by the transferor and delivered to and retained by the Registrar.
8. Execution of instrument of transfer
The Registrar may refuse to give effect to a transfer of an amount of substituted bonds or stock unless—
(a) the execution of the instrument of transfer relating thereto by each party to the transfer is attested by at least one witness who is not a party to the transfer or the spouse of a party to the transfer; and
(b) the witness specifies in such instrument his usual place of residence or place of business.
9. Transfer to be entered in register
The Registrar shall give effect to a transfer of an amount of substituted bonds or stock by entering in the register relating to substituted bonds or stock of that issue such particulars as are requisite to show the effect of the transfer.
10. Transferor deemed to remain holder
The transferor of an amount of any substituted bonds or stock shall be deemed to remain the holder thereof until the Registrar has given effect to the transfer.
(1) The Registrar may refuse to give effect to a transfer of an amount of substituted bonds or stock unless—
(a) the instrument of transfer relating thereto is accompanied by a certificate representing, or certificates representing in the aggregate, an amount of substituted bonds or stock of the issue specified in such instrument of transfer not falling short of the amount specified therein, being a certificate or certificates wherein the name of the transferor is stated; or
(b) the instrument of transfer relating thereto is accompanied by a certificate representing, or certificates representing in the aggregate, an amount of substituted bonds or stock of the issue specified in such instrument of transfer equal to a part of the amount specified therein, being a certificate or certificates wherein the name of the transferor is stated and, as to the residue thereof, there is furnished to the Registrar such evidence as he may reasonably require that a certificate representing, or certificates representing in the aggregate, an amount of substituted bonds or stock of that issue not falling short of the residue, and being a certificate or certificates wherein the name of the transferor is stated, has or have been lost or destroyed; or
(c) there is furnished to the Registrar such evidence as he may reasonably require that a certificate representing, or certificates representing in the aggregate, an amount of substituted bonds or stock of the issue specified in the instrument of transfer not falling short of the amount specified therein, and being a certificate or certificates wherein the name of the transferor is stated, has or have been lost or destroyed.
(2) Where the provisions of paragraph (b) or (c) of sub-regulation (1) have effect in respect of an amount of substituted bonds or stock, the Registrar may refuse to give effect to a transfer of any such amount unless there is furnished to him such indemnity against claims in respect of lost or destroyed certificates as he may reasonably require.
The Registrar may refuse to give effect to a transfer of an amount of substituted bonds or stock unless there is furnished to him, in addition to the certificate or other evidence furnished in terms of regulation 11 such evidence as he may reasonably require of the right of the transferor to make the transfer.
13. Period and notice of transfer
The Registrar shall not be required to give effect to a transfer of an amount of substituted bonds or stock until—
(a) the expiration of a period of ten days beginning with the day next following that on which the instrument of transfer relating thereto is delivered to the Registrar; or
(b) if before the expiration of the staid period, the Registrar sends to the person specified in the instrument of transfer as the transferor or, if two or more persons are specified in such instrument as the transferors, to one of those persons, a written notice informing him of the proposed transfer, the expiration of the period of ten days beginning with the day next following that on which such written notice was posted.
PART IV
REPRESENTATIVE STOCKHOLDERS
14. Transfer by executors, etc.
(1) An amount of substituted bonds or stock entered in the register relating to substituted bonds or stock of that issue in the name of a deceased person shall be transferable by the executor in the estate of such person or, if there are two or more executors, by all the executors in such estate jointly.
(2) The Registrar shall call for such evidence of the appointment of an executor or executors and his or their power to transfer substituted bonds or stock as he may consider necessary.
(3) Any person in whom an amount of substituted bonds or stock vests in consequence of—
(a) the mental disorder of a stockholder;
(b) the insolvency or bankruptcy of a stockholder under any written law;
(c) the making by a stockholder of an assignment to or composition with his creditors; or
(d) the operation of law otherwise than by transfer in accordance with these Regulations;
shall, on producing such evidence of the capacity in respect of which he proposes to act or of his title as is by law sufficient, have the right to be registered as the holder of that amount of substituted bonds or stock and, additionally or alternatively, to make, subject to the provisions of these Regulations, such transfer of that amount of substituted bonds or stock as such stockholder could have made.
(1) A stockholder may be described in the register relating to the issue of substituted bonds or stock he holds as a trustee of a specified trust or as a trustee without specifying a trust.
{mprestriction ids="2,3,5"}
(2) If a stockholder is the holder of an office, his official designation may be entered in the register relating to the issue of substituted bonds or stock he holds instead of his name; and where, in relation to an amount of substituted bonds or stock, any such official designation is so entered—
(a) an instrument of transfer; and
(b) an instrument containing directions with respect to the payment of interest on that amount;
shall, if executed by the holder for the time being of that office or by the person lawfully acting in the capacity of such holder, be as effectual as if his name were entered as the holder of that amount.
16. Notice of trust not required to be entered in register or certificate
Save as expressly provided by these Regulations, no notice of any trust, whether express, implied or constructive, shall be entered in any register or in a certificate, and notwithstanding that, in relation to an amount of any substituted bonds or stock entered in the register relating to that issue of substituted bonds or stock in a particular name or names, the holder thereof is described as mentioned in sub-regulation (1) of regulation 15, it shall not be necessary for the Registrar to inquire concerning the propriety of anything done in relation to that amount or any part thereof.
PART V
PAYMENT OF INTEREST ON SUBSTITUTED BONDS AND STOCK
(1) The payment of interest on any holding of substituted bonds or stock shall be calculated in accordance with the conditions of the loan to which the issue of substituted bonds or stock relates.
(2) Where two or more persons are registered as joint stockholders, any one of them may give effectual receipts for any interest payable on the amount of substituted bonds or stock in respect of which they are so registered.
(3) Interest shall be payable by means of warrants or cheques sent through the post, and unless otherwise directed in writing by the stockholder, or in the case of joint stockholders by all the stockholders, shall be sent to the stockholder, or in the case of joint stockholders to that stockholder whose name is entered first on the register in respect of the joint holding, at his registered address:
Provided that the Registrar may, in any case in which he sees fit, defer payment of any interest until he has received authority with respect thereto from the stockholder or stockholder.
(4) Every such warrant or cheque shall be made payable to the order of the person to whom it is sent, and payment of the warrant or cheque, if purporting to be duly receipted by or on behalf of the payee, shall be a satisfaction of the amount in respect of the interest.
A register shall be closed as regards transfers for a period of fifteen days immediately preceding any day on which, in terms of the conditions of the loan to which the issue of substituted bonds or stock relates, any payments of interest become due, and shall remain closed until the day on which such payments are effected.
PART VI
MISCELLANEOUS PROVISIONS
19. Authority for transfer and power of attorney
(1) An authority to execute an instrument of transfer relating to an amount of any substituted bonds or stock shall be in writing, and the execution of the instrument containing any such authority shall be attested by at least one witness.
(2) Every power of attorney given by a stockholder authorising the transfer of an amount of substituted bonds or stock shall, when lodged, produced or exhibited to the Registrar, be deemed, as between the Registrar and the donor of the power, to continue and remain in full force and effect until such time as express notice in writing of its revocation has been lodged with the Registrar.
20. Where Registrar may refuse to recognise instrument
If a party to an instrument of transfer relating to an amount of substituted bonds or stock executes such instrument otherwise than by signature, the Registrar may refuse to recognise the instrument unless there is furnished to him such evidence as he may reasonably require (whether by way of a statement written on the instrument and purporting to be signed by the person witnessing the execution of the instrument by that party, or otherwise) that the effect of the instrument was understood by that party.
21. Execution of instruments by bodies corporate
Nothing in these Regulations contained shall be construed as authorising a body corporate to execute an instrument otherwise than in accordance with the rules of law and with the provisions of any instrument (including a statute or instrument made thereunder) regulating the constitution of that body with respect to the execution of instruments by that body.
LOCAL LOANS (REGISTERED STOCK) REGULATIONS
[Section 48]
[Re-denominate the currency as stipulated under S 4 of Re-denomination Act, 8 of 2012, read with Bank of Zambia Act, 43 of 1996.]
Arrangement of Regulations
Regulation
1. Title
2. Interpretation
3. Applications for allotment
4. Letters of allotment
5. Stock certificates
6. Payment of interest and acknowledgement
7. Transfers
8. Applications for consolidation or subdivision
9. Transfer, consolidation and subdivision
10. Issue of duplicates and renewals
11. Provisions relating to joint stockholders
12. Alterations in the register
13. Persons under legal disability
14. Trustees
15. Appointment of agents
16. Death of stockholder
17. Information as to stock accounts
18. Indemnity of Government and officers
19. Saving of rights of third parties
20. Prescribed fees
[Regulations by the Minister]
Act 13 of 1994,
GN 122 of 1958,
GN 309 of 1963,
GN 315 of 1964,
GN 497 of 1964,
SI 48 of 1965,
SI 13 of 1994.
These Regulations may be cited as the Local Loans (Registered Stock) Regulations.
In these Regulations, unless the context otherwise requires—
“unit of stock” means stock of the denomination of two kwacha.
Applications for allotment of stock shall be made in the form set out in Form 1 of the Schedule.
Letters of allotment of stock shall be made in the form set out in Form 2 of the Schedule.
Stock certificates shall be issued in the form set out in Form 3 of the Schedule.
6. Payment of interest and acknowledgment
(1) The interest due on any registered stock shall be paid by warrant to the registered stockholder or to any branch of any bank within Zambia or person or body of persons to whom the stockholder has by a request duly made to the Minister authorised the Minister to issue such warrant.
(2) No warrant shall be paid until the receipt thereon for the amount thereby payable has been duly signed, and such receipt shall be a full discharge to the Government and to the Minister for the payment of the sum named in the warrant.
(3) The posting of a letter containing a warrant sent by the Minister in pursuance of these Regulations addressed to any person at the last address furnished by that person to the Minister shall, as regards the liability of the Government and of the Minister, be equivalent to the delivery of the warrant to the person to whom the letter was addressed.
(4) Where, in pursuance of these Regulations or in accordance with any authority given thereunder, any payment is to be made by the Minister to a firm or a body of persons, whether corporate or unincorporate, a receipt for the payment given by any person purporting to be an agent or officer of that firm or body and to be authorised to receive the payment shall be a full discharge to the Government and the Minister for the amount paid.
(5) Where stock is registered in the names of two or more persons as joint stockholders, the Minister may, unless other arrangements with respect to the payment of interest have been made in accordance with these Regulations, pay any interest thereon to the stockholder whose name appears first in the register.
(6) A receipt for the payment of interest on any stock which is given by any one of two or more joint stockholders of such stock shall, unless notice in writing to the contrary has been received by the Minister from any other joint stockholder of such stock, be a full discharge to the Minister and the Government for the payment of that interest.
Transfers of stock shall be executed by an instrument in the form set out in Form 4 of the Schedule.
8. Applications for consolidation or subdivision
Applications for consolidation or subdivision of stock shall be made in the form set out in Form 5 of the Schedule.
9. Transfer, consolidation and subdivision
No transfer, consolidation or subdivision of stock shall be made except in respect of units of stock.
10. Issue of duplicates and renewals
(1) The loss or destruction of any stock certificate issued by the Minister shall be notified in writing to him as soon as practicable by the person entitled to the possession thereof.
(2) Upon receipt of such notification, the Minister shall cause to be published in the Gazette a notice stating that the certificate has been lost or destroyed, as the case may be, and that he proposes, after the expiration of two calendar months from the date of such notice, to issue a duplicate of such certificate.
(3) The person giving such notification shall also be required to issue a notice in a local newspaper, circulating in the district of his residence, stating that the certificate has been lost or destroyed, as the case may be, and that he proposes to apply to the Minister for the issue of a duplicate.
(4) If the Minister is satisfied that any stock certificate has been lost or destroyed, or is of opinion that any stock certificate has been issued in error or has been tampered with, or is in such a condition as to render its renewal desirable, he may—
(a) in the case of loss or destruction, issue, subject to the provisions of sub-regulation (2), a duplicate certificate; and
(b) in any other case, issue a renewal of the stock certificate, to any person who satisfies him that he is entitled to the possession thereof.
(5) Where any fee is authorised on the issue of a duplicate or on the renewal of a stock certificate, no such fee shall be payable in relation to a duplicate or renewal of a stock certificate occasioned solely by an error attributable to the person issuing the original stock certificate.
11. Provisions relating to joint stockholders
(1) Subject to the provisions of these Regulations, any application with respect to stock in the names of two or more persons as joint stockholders shall be made by all such persons.
(2) The joint stockholders of any stock may authorise any person, including one of themselves, to act as their agent in respect of such stock and the provisions of these Regulations relating to the authorisation of agents shall apply accordingly.
Powers of stockholders to act by majority—
(3) Where stock is registered in the names of three or more stockholders and an application in that behalf is made in respect of such stock in accordance with the provisions of this regulation, all things required to be done for the purpose of dealing with such stock may, subject to the provisions of these Regulations, be done and given by a majority of the persons who are the stockholders at the date when the application is made, or, in the case of the death of any such persons, by a majority of the survivors of them.
(4) An application for the purpose of this regulation shall be made in writing to the Minister.
(5) A person who is registered as one of the stockholders of any stock with respect to which an application has been made under this regulation may give notice in writing to the Minister that the application is revoked, and, on notice being so given, the provisions of this regulation shall, as from the receipt of the notice by the Minister, cease to apply to such stock.
12. Alterations in the register
(1) In the event of stock being registered incorrectly owing to any mistake in the request for registration or transfer, the account shall be amended upon the receipt of a letter or declaration, as the case may require, stating how the error arose. In the event of alteration to any name or names in the account which has been necessitated by reason of a transfer, are execution of the transfer shall be made by the transferor or by his solicitor.
(2) On the marriage of a female stockholder, her name and description shall be altered in the register with respect to stock standing either in her name solely or jointly with any other persons, on such stockholder producing to the Minister her marriage certificate, and notifying her change of address, if any, and giving full particulars of the accounts in which it is desired to have the alterations made. Specimens of her present and former signatures shall be furnished, and the husband shall not be required to join in the notification.
13. Persons under legal disability
If the stockholder of any stock becomes of unsound mind or otherwise subject to legal disability, anything which under these Regulations may be done by or in relation to such stockholder may be done by or in relation to the person, if any, having power in law to administer the property of such stockholder, subject to the prior production to the Minister of documentary proof of such power to the satisfaction of the Minister.
Where any stock is purchased by any person as trustee for another person, the Minister, at the request of the trustee, shall cause him to be so described in the register.
(1) Subject to the provisions of these Regulations, any stockholder may give an authority in writing authorising any person to act as his agent with respect to stock held by him or with respect to any interest arising therefrom and such authority may—
(a) relate to the whole stock or to any unit of stock which may at any time be held by the persons giving the authority or to the whole stock or to any unit of stock which is held by him at the time when the authority is given; and
(b) authorise the person to whom the authority is given to deal with the stock or interest to which it relates either generally at his discretion or subject to any directions contained in the authority.
(2) An authority under this regulation shall be of no effect unless and until it is delivered to the Minister.
(3) An authority given under this regulation may be revoked at any time by the person by whom it was given and shall be determined by the death, bankruptcy or legal disability of that person:
Provided that any payment duly made by the Minister under these Regulations in compliance with an authority given under this regulation shall, notwithstanding the revocation or determination of such authority, be deemed for all purposes to be a valid payment unless notice in writing of the revocation had been received by, or the death, bankruptcy or disability had come to the knowledge of the Minister at the time when the payment was made.
(4) An authority given under this regulation shall, subject to the terms thereof, until revoked or determined—
(a) remain in force notwithstanding any increase or decrease in the nominal value of the stock to which it relates;
(b) entitle the person to whom it is given to make any application and sign any document mentioned in these Regulations and to receive any payment in pursuance thereof.
(1) Subject to the provisions of sub-regulation (4), the death of a stockholder shall be proved by production of either probate of the will or letters of administration, or copies of such probate or letters certified by a notary public to be true copies, and, where necessary, a declaration as to the identity of the deceased shall be made by some disinterested person.
(2) On completion of the proof of death of a stockholder in a joint account, the stock shall be held at the disposal of the survivor or survivors, but the name of the deceased stockholder shall not be removed from the account.
(3) On the death of the last survivor in a joint account, the stock and interest thereon shall be held at the disposal of the executors or administrators of such last survivor.
(4) Where the amount of stock registered in the name of a deceased does not exceed the sum of one hundred kwacha, the Minister, on being notified of the death of such person, shall communicate with the District Secretary of the District in which the deceased person was living at the date of his death. If the District Secretary is satisfied, after the expiration of such period of time as he thinks reasonable, that the deceased person has left no will, and that letters of administration in respect of his estate have not been granted, he shall notify the Minister of the name of the person or persons who appear to him entitled by African customary law to administer the estate of the deceased, and the Minister shall thereupon cause the stock to be transferred, without charge, into the name of such person or persons.
17. Information as to stock accounts
Information with regard to a stock account shall only be furnished at the request of a stockholder to whom such account relates or his duly appointed representative.
18. Indemnity of Government and officers
The Government, the Minister, and any person acting under his authority, shall not be liable, without proof of negligence or fraud, in respect of any payment duly made or act duly done in accordance with these Regulations, and any such payment shall, subject to the provisions of regulation 19, be deemed to have been a valid payment and a receipt issued by the person to whom the money was paid shall be a full discharge to the Government and to the Minister for the amount of such payment.
19. Saving of rights of third parties
No provision of these Regulations for the protection of the Government and of the Minister in respect of any act done or any money paid shall operate to prevent the recovery by any person or his representative of any stock or money lawfully due to him from the person to whom such stock was transferred or such money was paid by or under the direction of the Minister, or from the representative of that person.
The Minister may authorise, either generally or in the case of any particular issue of stock, the payment of the following fees:
On the issue of a stock certificate under section 12 of the Act other than to the first stockholder
3 fee units
On the issue of a duplicate, or renewal of a stock certificate under regulation
8 fee units
On the registration of the transfer of stock under section 14 of the Act
3 fee units
On the consolidation or subdivision of stock under section 39 of the Act
3 fee units
For information furnished under regulation
5 fee units
Provided that, in the case of an account registered in the name of a trustee in accordance with the provisions of regulation 14, no fee shall be charged on the issue of a stock certificate or on the registration of a transfer occasioned solely by a change of trustee.
[Am by GN 315 of 1964; Act 13 of 1994.]
PRESCRIBED FORMS
FORM 1
[Regulation 3]
The List of Applications will be opened at...................(time and date)...................and will be closed when the loan has been fully subscribed or at the latest at ........................................................................
| APPLICATION FORM | For official Use Application No ........... Allotment No ............... |
GOVERNMENT OF ZAMBIA ......... per cent
LOCAL REGISTERED STOCK
19........ (No.............)
ISSUE OF K............. AT K............. per cent
The Permanent Secretary, Ministry of Finance,
P.O. Box RW62,
Lusaka, Zambia
(Agent)(Agent)
I/We hereby apply for K.......................................(say.....................................kwacha) of
GOVERNMENT OF ZAMBIA ....................................................................................... PER CENT.
LOCAL REGISTERED STOCK ...........................................................................according to the
conditions contained in the Prospectus dated...................................................................and
undertake to pay............................................................................ for every K200 of Stock, and to accept the same, or any
lesser amount that may be allotted to me/us, and to pay for the same in conformity with the terms of the said Prospectus.
I/We (details of method of payment). Stock is to be registered in the name(s) of:
Full name(s)..................................................................................................................................
........................................................................................................................................................
(BLOCK CAPITALS)
à Permanent Address....................................................................................................................
....................................................................................................................
.....................................................................................................................
........................................................................
(Signature of Applicant(s))
Date......................................................
Application must be made for K................................................................... of Stock or multiples thereof.
Cheques should be made payable to the........................................................................................
................................................
Interest will be paid by Warrant direct to the Stockholder’s permanent address unless otherwise instructed below.
INTEREST TO BE PAID TO:
*(a) My/Our Account at the ................................................................. branch of the................................
.................................................. Bank,
*(b) My/Our Post Office Savings Bank Account No.................................................. at the........................................................................................Post Office.
*(c) ....................................................................................................................................
....................................................................................................................................
....................................................................................................................................
........................................................................
(Signature of Applicant(s))
Date......................................................
*1. Delete whichever is not applicable.
2. State whether Mr., Mrs. or Miss and titles, if any.
3. Where the address given is c/o another bank or firm, the place of residence or business of the applicant should also be given.
4. Applications by Corporate Bodies should be supported by documentary evidence of the power to acquire Government Stock and documentary evidence of the manner in which contracts of this nature are to be completed on behalf of the applicants. Corporate Bodies who have already registered the aforementioned documents with the Permanent Secretary, Ministry of Finance, need take no further action in this connection.
THE LOCAL LOANS (REGISTERED STOCK) REGULATIONS
FORM 2
[Regulation 4]
GOVERNMENT OF ZAMBIA
LOCAL REGISTERED STOCK
LETTER OF ALLOTMENT
No.......................................(Address)........................................................
(Address)........................................................
..........................................., 19.......
To: ...........................................
To: ...........................................
To: ...........................................
SIR/GENTLEMEN,
I thank you for your remittance of K............................................................ and your application for Stock in the ................................................................. Loan, and have the pleasure to inform you that you have been allotted Stock to the nominal value of K.................................... An official receipt for your deposit is attached.
(a) *The sum of K.......................................................... as calculated below is payable by you on or before the .........................................., 19.........
K
Gross value of allotment at...............................per...............................Stock
Less amount paid on application . . . . . . . . . . . . .........................
Net amount payable by you . . . . . . . . . . . . .....................
(b) *The sum of K......................................... as calculated below is payable to you and cheque No............................................... for that amount is enclosed.
K
Amount paid on application . . . . . . . . . . . .
Less gross value of the allotment at.......................................................for
.....................................................Stock . . . . . . . . . . .....................
Net amount payable to you . . . . . . . . . . . . .....................
If special arrangements for the payment of interest are desired, the form overleaf should be completed.
Intd................................................
Exd..................................................
..................................................
Permanent Secretary,
Ministry of Finance.
To: THE PERMANENT SECRETARY,.............................................., 19.........
To: MINISTRY OF FINANCE,
To: (Address)
SIR,
LOCAL REGISTERED STOCK
A *remittance/cheque for K is enclosed. Please forward receipt and stock certificate to *me/us/to the person named below:
Name .................................................. Signature(s) ..................................................
Address .................................................. Signature(s) z ..................................................
................................................................ Signature(s) ..................................................
*Strike out whichever is inapplicable
FORM 2
(REVERSE) GOVERNMENT OF ZAMBIA
LOCAL REGISTERED STOCK
INTEREST REQUEST
(Address)
Until further notice, please pay interest falling due half-yearly/yearly on the under-stated stockholding(s) by warrant to—
| *Name ............................................................................................................ | Bank |
| Address .......................................................................................................... | Company |
| ........................................................................................................................ | Firm |
| Person |
Details of the stockholding(s) are as follows—
| Names of Holders | Certificate No. or Allotment No. | Amount of Stock |
Signatures (to be signed by all Stockholders, Executors, Administrators or Trustees concerned)
| ............................................................................ | ............................................................... |
| ............................................................................ | ............................................................... |
| ........................................................................... | ............................................................... |
| ........................................................................... | ............................................................... |
[Am by GN 309 of 1963.]
FORM 3
[Regulation 5]
GOVERNMENT OF CREST ZAMBIA
LOCAL REGISTERED STOCK
Stock Certificate No..............................
K..................................................... Stock
This is to certify that ..........................................................................................................................................................
...........................................................................................................................................................
................................
has/have been recorded in the Register of Stockholders as the proprietor(s) of Government of Zambia .....................
Local Registered Stock....................................to the value of .........................................................................................
...........................................................................................................................................................................................
Lusaka............................................. 19........
Exd ........................................... Transfer No .......................................... Registered Folio No ..........................................................
...................................................................
Permanent Secretary
Ministry of Finance.
(Reverse)
Interest is payable...........................................................................................................
This Certificate is not negotiable by endorsement, and a sale or transfer of the Stock, in whole or in part, must be effected by an instrument of transfer on the approved form which must be registered at the office of the Permanent Secretary, Ministry of Finance, Lusaka.
Please complete and forward to the Permanent Secretary, Ministry of Finance (address). Received Stock Certificate No........................................
Signature.................................................. Date............................................., 19........
[Am by GN 309 of 1963.]
FORM 4
[Regulation 7]
stock transfer form
Government of Zambia
Local Registered Stock
(Above this line for Registrars only)
Consideration Money
K...........................
Certificate lodged with the Registrar
(Note: The Stock Certificate must accompany this form)
(For completion by the Registrar/ Stock Exchange)
Full name of Undertaking
Full description of Security
Number or amount of Shares, Stock or other security and, in figures column only, number and denomination of units, if any.
Words
Figures
(units of)
Name(s) of registered holder(s) should be given in full; the address should be given where there is only one holder.
If the transfer is not made by the registered holder(s) insert also the name(s) and capacity (e.g., Executor(s)) of the person(s) making the transfer.
In the name(s) of
I/We hereby transfer the above security out of the name(s) aforesaid to the person(s) named below or to the several persons named in Parts 2 of Brokers Transfer Forms relating to the above security:
Stamp of Selling Broker(s) or, for transactions which are not Stock Exchange transactions, of Agent(s), if any acting for the Transferor(s)
Delete words in italics except for Stock
Exchange transactions.
Signature(s) of Transferor(s)
Date....................................
1. .....................................................................
2. .....................................................................
3. .....................................................................
4. ....................................................................
Bodies corporate should execute under their common seal.
Full name(s) and full postal address(es) of the person(s) to whom the security is transferred.
Please state title, if any, or whether Mr., Mrs., or Miss.
Please complete in typewriting or in block capitals.
I/We request that such entries be made in the register as are necessary to give effect to this transfer.
Stamp of Buying Broker(s)
(if any)
Stamp or name and address of person lodging this form (if other than the Buying Broker(s))
FORM 5
[Regulation 8]
GOVERNMENT OF ZAMBIA
................Local Registered Stock
APPLICATION FOR CONSOLIDATION/SUBDIVISION OF STOCK
..........................., 19......
The Permanent Secretary,
Ministry of Finance,
(Address)
The undersigned herewith tender the undernoted Stock Certificate(s) and request that (a) new
Stock Certificate(s) may be issued to the values indicated below.
Particulars of Stock Certificates Tendered for Consolidation/Subdivision
Stock Certificate Number
Amount
Total . . K
Particulars of Stock Certificates Required on Consolidation/Subdivision
Stock Certificate
Amount
Total . . K
Signature(s) and address(es) of holder(s)
...................................................................
...................................................................
...................................................................
...................................................................
...................................................................
...................................................................
...................................................................
...................................................................
[Am by GN 309 of 1963.]
{/mprestriction}