S.L. 575.2 Art. 10Modes of issue.

(1) Treasury Bills may be issued:

(a) on a money market fixed yield basis (rate of discount), and

(b) by a competitive auction after a public invitation for bidding; or

(c) by a restrictive competitive tender process limited to a number of selected institutional investors.

(2) Treasury Bill competitive auctions shall be held on a weekly basis through a standardised tendering process or as may otherwise be determined by the Accountant General.

(3) When Treasury Bills are issued at a fixed rate of discount (yield), such rate shall be fixed by the Accountant General.