S.L. 358.2 Art. 3Rateofinterestand dates of payment. 2 [S.L.

(1) Interest in full will be payable in arrears every six

(6) months on the 25th March and on the 25th September in every year during the currency of the Stock. The rate of interest shall be revised upon the lapse of every period of two (2) years, starting from the date of emission of such stock, in such a way as to maintain it at 1% lower than the normal maximum lending rate allowed at law, it being understood that it cannot fall below 7%.

(2) Payment of interest will be made by warrant, which is sent by post at the stockholder’s risk to the stockholder himself or to any branch of any local bank, person or body of persons to whom the stockholder has by a request in writing authorised the Accountant General to issue such warrant. No warrant shall be paid until the relative receipt has been duly signed and such receipt shall be a full discharge to the Accountant General and the Government for such payment.

(3) In cases where Stock is registered in the names of two (2) or more persons as joint stockholders, the Accountant General may make payment in the manner above-mentioned to the person whose name first appears in the register. A receipt for the payment of interest given by one or two or more joint stockholders shall, unless notice in writing to the contrary has been received by the Accountant General 358.02 2031 (III)

from any other joint stockholder, be a full discharge to the Accountant General and the Government for the payment of such interest.