Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1697796922432.pdf (Guyana)
GUYANA No.

4 of 1983 ORDER Made Under THE RATE OF INTEREST ACf (No.

13 of 1979) lN EXERCISE OF THE POWERS CONFERRED UPON THE MINISTER OF THE RATE OF INTEREST ACT, I HEREBY OR­ BY SECTION 6 DER AS FOLLOWS:- 1.This Order which amends the Rate of Interest Order* may c1tat1on and com· be cited as the Raite of Interest deemed to have come into operation Order is hereby 2.The Principal on 21st June, 1982. amended - as follows (Amendment) Order 1983 and shall be mencement.
:f1 f�:n1 ent (a)by the �eletion from the first the words "Insurance column ,thereof (b)by renumbering Companies" of the corresponding 4; and clause 3 as clause pal column of the Schedule of �� � - and from the second entry "10%"; (c)by inserting the following clause as clause 3 - "Rate of interest charged by lnsur­ ance Com­ panies on mortgages.

the prov1s1ons of clause 2 (2) per annum which may be directly secured 3.
(l) Notwithstanding the maximum rate of interest charged, on a loan able property domestic commercial or reserved secured by a mortgage by Insurance lending shall Jen.ding shall be fourteen whether or immov­ in respect Companies on movable per cent.

of be ten per cent and in respect of or indirectly, *No 44 of 1982.
2 (2)ln this clause - "domestic lending" includes the purchase, lending construcrion tor the purpose of or repair of a financing building to be used as a residence by the borrower; lending" ··commercial of financing to be rented lending includes the construction either or repair wholly or partly.
for the purpose of a building (3)Notwithstanding the Jc!initions shall be converted !en.ding versa 1i the building ing was effeo1ed nature of the lending or propeny is put to such a use as would change the to the other:·.

from one <.

:aiegory in paragraph into a commercial in respect lending o( which tbt: lend­ (2) a domestic and vi::e Made this 26,h day of January, 1983.

H.D.

Jloyre, Vice-President, Economic Planning and Finance.