Section 16
State OrdinanceIn forceProvision 16 of 27
Section 16
(1)
The Accountant-General may, for a period not exceeding fourteen days previously to each payment of interest on any stock registered under the provisions of this Ordinance, close the register of that stock as regards transfer upon giving not less than seven days’ notice of such closing. Such notice shall be published in the Gazette.
6
(2)
The persons who on the day of such closing are registered as stockholders shall, as between them and their transferees, be entitled to the interest then next payable on the stock.
Loans to be a charge upon general revenues.