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	REGULATIONS FOR LICENSING DEALERS AND BROKERS	(Size 359KB)	(Size 179KB)
	COLLECTIVE INVESTMENT SCHEMES	(Size 161KB)	(Size 77KB)
	REGULATIONS FOR THE ESTABLISHMENT AND OPERATION OF INVESTMENT INSTITUTIONS	(Size103KB)	(Size 48KB)

RESERVE BANK OF MALAWI AS REGISTRAR OF GOVERNMENT SECURITIES

Sections 24 and 26 of Part V of the Finance and Audit Act
(Cap.37:01) deals with Borrowing by the Malawi Government. Furthermore in Section 26 (5) the Reserve Bank of Malawi is appointed Registrar of securities issued by the Malawi Government for purposes of raising or borrowing monies. The two Sections state as follows:

Section 24

• (1) The Secretary to the Treasury may, with the prior approval of the Minister, borrow for and on behalf of the Government by the issue of Treasury Bills payable at the Reserve Bank of Malawi, sums not exceeding a total at any time of twelve million Kwacha (K12,000,000) or such further amounts as may from time to time be directed by the Minister in accordance with a resolution of the National Assembly.
• (2) The principal monies represented by the Treasury Bills issued under this section shall be part of the public debt.
• (3) Every such Treasury Bill shall be for the sum of two thousand Kwacha (K2,000) or a multiple of two thousand Kwacha (K2,000) and shall be payable at par at such time as the Secretary to the Treasury shall determine, which time shall be stated in the Bill: Provided that every such Treasury Bill shall be payable not later than one year from the date of issue.
• (4) The Secretary to the Treasury may, with the prior approval of the Minister, decide the issue price of each issue of the Treasury Bills and the arrangement for such issue, which may include calling for tenders.
• (5) Upon repayment of the principal monies payable in respect of any such Treasury Bill, the Bill shall be cancelled by the Reserve Bank of Malawi on behalf of the Secretary to the Treasury.

Section 26

• (1) The Minister may from time to time raise sums in the currency of Malawi by the issue of stock, bonds or promissory notes not exceeding in the aggregate such amount as may be authorized by law.
• (2) The principal monies and interest represented by stock, bonds or promissory notes issued under this section shall form part of the public debt.
• (3) All expenditure in connection with the raising of such loans may, if the minister so directs, be paid out of the principal monies raised.
• (4) The Minister may determine the terms and conditions on which any stock, bonds or promissory notes shall be issued and may in determining such conditions provide that the interest payable on such stock, bonds or promissory notes shall be exempt from all taxes or any particular tax payable in terms of any law of Malawi and in this respect may make different provisions as to interest payable to persons resident within and outside Malawi:
Provided that no promissory note issued under this section shall be expressed to be repayable at a date later than four years from the date when it is issued. (5) All stock and every bond other than a promissory note issued under this section shall be issued as a registered stock or a registered bond and all such stock and every bond which is declared by the Minister to be transferable, shall be transferred by written instrument in a form approved by the Secretary to the Treasury. (6) The Reserve Bank of Malawi shall be appointed Registrar in respect of all Government Securities covered above.