CHAPTER 56:07
STOCK, BONDS AND TREASURY BILLS

ARRANGEMENT OF SECTIONS

    SECTION

PART I
Preliminary

    1.    Short title

    2.    Interpretation

PART II
Stock and Bonds

    3.    Loans to be raised by stock or bonds

    4.    Payment into Development Fund or Consolidated Fund

    5.    Principal moneys, etc. charged on Consolidated Fund

    6.    Expenses

    7.    Terms and conditions

    8.    Authority to issue stock or bonds exceeding P50 million

    9.    Register of stock and bonds

    10.    Certificates of title

    11.    Interest

    12.    Redemption

    13.    Bank to be sole agent

    14.    No responsibility for trust

    15.    Indemnity

PART III
Treasury Bills

    16.    Issue of Treasury bills

    17.    Moneys to be paid into or charged upon Development Fund or Consolidated Fund

    18.    Value and tenor of Treasury bills

    19.    Bank to keep records of payments

PART IV
Limitation on Borrowing

    20.    Limitation on borrowing

PART V
Regulations

    21.    Regulations

    22.    Repeal of Cap. 56:07

    23.    Savings

Act 13, 2005.

An Act to re-enact with amendments, the provisions relating to the issue of stock, bonds and treasury bills and matters incidental thereto and connected therewith.

[Date of Commencement: 23rd September, 2005]

PART I
Preliminary (ss 1-2)

1.    Short title

    This Act may be cited as the Stock, Bonds and Treasury Bills Act.

2.    Interpretation

    In this Act, unless the context otherwise requires—

    "Bank" means the Bank of Botswana established under the Bank of Botswana Act (Cap. 55:01);

    "bonds" means any fixed income instrument, debt security or loan, given by an investor to an issuer in return for the promise of being paid interest at given times, and the principal in full at the maturity of the bond;

    "debt service ratio" means interest and principal payments due on public and publicly guaranteed debt during the year, which is expressed as a percentage of the total exports of goods and services for that year;

    "scripless format" means a paperless system where ownership of securities is recorded in an electronic book-entry format;

    "stock" means any equity investment that entitles the investor to co-ownership in the issuing organisations earnings and assets; and