Treasury Bills Act
- Commenced on 26 September 1969
- [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. Issue of treasury billsNotwithstanding section 22 of the Public Finance Act, the Minister may borrow, by the issue in Uganda of Government treasury bills at any one time or by such installments as he or she may think necessary a sum not exceeding in total twenty-two billion shillings or such further sums as may from time to time be authorised by resolution of Parliament.
2. Proceeds from issue of treasury billsThe proceeds from the issue of treasury bills shall be paid into the Consolidated Fund.
3. Principal monies charged upon Consolidated FundThe principal monies represented by the treasury bills issued under this Act are charged upon and shall be payable out of the Consolidated Fund.
4. Value of bills when payableNotwithstanding section 22(3) of the Public Finance Act, every treasury bill issued under this Act shall be for a sum of ten thousand shillings or a multiple of ten thousand shillings and shall be payable at par at such time or times as the Minister shall, before the issue of the treasury bills, fix and determine, but not later than one year from the date of issue.
5. RulesThe Minister may make rules providing for all or any of the following—
6. Bank of UgandaThe Minister may appoint the Bank of Uganda as agent for the Government for any of the purposes of this Act.
7. ValidationAny treasury bills issued prior to the commencement of this Act, which were in excess of the legal limit then existing under section 2 of the Treasury Bills Act, Cap. 153, 1964 Revision, shall be deemed to have been validly issued under this Act.
8. Repayment of treasury billsThe principal monies represented by the treasury bills issued under this Act shall be repaid by the Bank of Uganda, and upon that repayment the treasury bills shall be cancelled by the Bank of Uganda.
History of this document
26 September 1969