Section 4
Terms and payment of Treasury Bills
of Treasury Bills (Local) Act 1946
ActIn forceProvision 5 of 19
Section 4
(1)
Every Treasury Bill issued under this Act shall be for such amount and upon such terms as may be determined by the Minister of
Finance.
(2)
The Bank shall, before each issue of Treasury Bills aforesaid, fix and determine the time at which the Treasury Bills are to be issued and, subject to subsection (3), the time at which such Bills shall become payable.
(3)
Every Treasury Bill shall be payable not later than one year from the date of its issue.