Premium Development Bonds Act
- Commenced on 23 March 1964
- [This is the version of this document at 31 December 2000.]
- [Note: The version of the Act as at 31 December 2000 was revised and consolidated by the Law Reform Commission of Uganda. All subsequent amendments have been researched and applied by Laws.Africa for ULII.]
1. InterpretationIn this Act, unless the context otherwise requires—
2. Issue of bonds
3. AdministrationThe Treasury shall, subject to section 2, be charged with the administration of the issue and repayment of bonds issued under this Act.
4. Nature of bondsBonds issued under this Act shall be bearer bonds and shall be transferable.
5. Consolidated Fund paymentsThe monies represented by the bonds and all other monies payable under this Act are charged upon the Consolidated Fund.
6. Stamp duty exemptionNotwithstanding the Stamps Act, no stamp duty shall be payable on the issue or transfer of bonds under this Act.
7. Draw by lot of bonds before maturityDuring the currency of the bonds of any particular bond issue there shall be drawings by lot in the manner prescribed of numbers corresponding to all the numbers of the bonds issued under that issue, and the holders of the bonds corresponding to the numbers so drawn shall be entitled to such prizes as may be prescribed under section 8(b).
8. Maturity of bonds, etc.The Minister shall by statutory order prescribe before the occasion of any bond issue—
9. Exemption from income taxAny premium paid on the maturity of a bond and any prize awarded under section 8 shall be exempt from income tax.
10. Disclosure of names
11. Offences and penalties
12. RegulationsThe Minister may by statutory instrument make regulations for better carrying into effect the provisions and purposes of this Act and, in particular, for
13. Directions by MinisterThe Minister may, subject to this Act, give directions of a general or specific nature to the Treasury and the Treasury shall be bound to comply with the directions.
History of this document
31 December 2000 this version
23 March 1964