|
|||
Act No: CAP. 455
Act Title: GUARANTEE (HIGH COMMISSION RAILWAYS AND HARBOURS LOAN) (NO. 1)
An Act to guarantee a loan of twenty-three million pounds sterling to be raised by the High Commission for certain purposes of the East African Railways and Harbours Administration to facilitate the investment of trust and other funds in the United Kingdom in High Commission securities issued for the purposes of such loan, and for other matters relating thereto and connected therewith [Act No. 1 of 1950, Act No. 60 of 1951, L.N. 2/1964, Act No. 21 of 1966.]
WHEREAS the High Commission by an Act entitled the Loan (Railways and Harbours) (1949) Act (Cap. 13(1951)) of the High Commission made in accordance with the provisions of section 28(1)(a) of the East Africa (High Commission) Order in Council, 1947, is authorised to raise, either at one time or by instalments, a loan of twenty-three million pounds sterling for certain purposes of the East African Railways and Harbours Administration set out in the Schedule to such Act: AND WHEREAS the principal of and the interest on any such loan is by such Act charged upon and payable out of the Railways and Harbours Fund maintained for the East African Railways and Harbours Administration under section 41 of the said Order in Council: AND WHEREAS it is expedient that repayment of the principal of and interest on such loan should be guaranteed out of the general revenues and other funds of Kenya and that any sums necessary for fulfilling such guarantee should be charged on such general revenues and other funds: BE IT THEREFORE ENACTED by the Governor of the Colony of Kenya, with the advice and consent of the Legislative Council thereof, as follows—
[
Date of commencement:16th January, 1950.
]
[
Date of assent:16th January, 1950.
]
|
|