Public Debt

(1) Notwithstanding the provisions of any other law, on and after the commencement date, the raising off all loan for on behalf of the government, and the giving of guarantees with respect to the repayment of loans by any public body shall be governed by this Act. 

(2) No loan borrowed by any public body shall be guaranteed by or on behalf of the Government otherwise than in accordance with this Act.

(3) Subject to section 28 this Act applies to securities issued by the Government under any enactment, whether before or after the commencement of this Act

(2) The functions of the Public Debt Financing Committee, in relation to the management of the public debt shall be to-

d) review the evaluations of funding requests by specified public bodies

(4) For the purposes of this section “specified public body” means 

(a) a statutory body or authority

(b) a local authority; or

(c) a Government company. 

 

(1) The authority to raise loans for or on behalf of the Government vests solely in the Minister.

(1) For the purposes of section 9, the Minister may enter into an agreement with any person, financial institution, international financial organization, or foreign government,, in such manner and on such terms as he thinks fit.