The purpose of this Law is to provide a framework for the efficient issuance and management of government securities to ensure that the Government’s financing needs and payment obligations are met at the lowest possible cost over the medium to long term, consistent with a prudent degree of risk, and to contribute to the development of the securities market in the Kingdom of Cambodia.
The definitions of terms used in this Law are listed as follows:
- “Government securities” means bills and bonds and other instruments creating or acknowledging indebtedness and issued by or on behalf of the Government under this Law.
- “Non-marketable securities” are those which, according to their terms, are payable only to the registered owners or recognized successors in title to the extent and in the manner provided in the applicable Parkas of the Minister of Economy and Finance, provided that the owners or recognized successors in title are entitled to call for redemption before maturity in accordance with the terms of such securities.
- “Government securities certificate” means an executed written instrument, which the fulfillment of an obligation by the government of Cambodia and sets forth the terms, conditions, and stipulations of such obligation.
- The term “accounts” means the general accounts and the special accounts of the National Treasury as prescribed in the [Public Finance Law of 1993] and other special accounts established by a law of the Kingdom of Cambodia.
- “Successor” means a person who inherits title and obligation in succession to a predecessor.
Law on Government Securities PDF Download