Chapter 469

In short

This law, called the Budget Measures Implementation (2004) Act, is about putting into effect various financial and administrative decisions made in the 2004 budget. It also allows the Government to borrow money and makes changes to several other laws.

What it regulates

The Government's ability to raise loans in Malta.
The use of borrowed money to cover excess expenditure.
Amendments to various tax and administrative laws.
The coming into force of certain provisions and amendments.

Who it concerns

The Government of Malta.
The Minister responsible for finance.

Key points

The Government of Malta may raise a loan not exceeding 232,937,339.86 Euro.
This loan is to be used to meet excess expenditure over revenue incurred in the Consolidated Fund during 2003, 2004, or subsequent years.
The Minister responsible for finance can issue stock in Malta to raise this loan.
The law also amends several other Acts, including the Income Tax Act, Social Security Act, and Value Added Tax Act.

Legal text

BUDGET MEASURES IMPLEMENTATION

(2004)CHAPTER 469 BUDGET MEASURES IMPLEMENTATION

(2004)ACT To implement various budget measures and other administrative measures. 1st January, 2004 ACT II of 2004, as amended by Legal Notice 427 of 2007 and Act I of 2010 . 1. The short title of this Act is the Budget Measures Implementation

(2004)Act. Short title. PART I

The provisions of this Part shall be deemed to have come into force on the 1st January,
Coming into force of this Part.
For the purpose of this Part, "revenue" has the same meaning as is assigned to it in article 2 of the Financial Administration and Audit Act, but does not include proceeds from loans. Interpretation. 4.

(1)Subject to the provisions of this Act, the Government of Malta may raise in Malta, by way of loan, a sum of money not exceeding two hundred and thirty-two million and nine hundred and thirty-seven thousand and three hundred and thirty-nine euro and eighty-six cents (232,937,339.86). Authority to raise loan. Amended by: L.N. 427 of 2007.

(2)For the purpose of raising the aforesaid loan the Minister responsible for finance is hereby authorised to issue stock in Malta under the provisions of the Local Loans (Registered Stock and Securities) Ordinance on such terms and conditions as the said Minister may approve.

Any money borrowed under the authority of this Part shall be appropriated and applied for the purpose of meeting excess expenditure over revenue incurred in the Consolidated Fund during the year 2003 and that projected to be incurred during the year 2004 or during subsequent years. Purpose. PART II
All amendments are in force and have been inserted in the Act accordingly. Amendment of the Income Tax Act. PART III All amendments are in force and have been inserted in the Act accordingly. Amendment of Social Security Act. BUDGET MEASURES IMPLEMENTATION

(2004)PART IV Amendment of the Import Duties Act. All amendments are in force and have been inserted in the Act accordingly. PART V Amendment of the Duty on Documents and Transfers Act. All amendments are in force and have been inserted in the Act accordingly. Amendment of the Motor Vehicles Registration and Licensing Act. All amendments are in force and have been inserted in the Act accordingly. Amendment of the Income Tax Management Act. All amendments are in force and have been inserted in the Act accordingly; article 48 (which never came into force) was repealed by Act. I. 2010.

PART VI PART VII PART VIII Amendment of Excise Duty Act. All amendments are in force and have been inserted in the Act accordingly. PART IX Amendment of Companies Act. All amendments are in force and have been inserted in the Act accordingly. PART X Amendment of the Value Added Tax Act. All amendments are in force and have been inserted in the Act accordingly. Amendment of the Accountancy Profession (Amendment) Act 2003, Act XIV of
68.

(1)This Part amends the Accountancy Profession (Amendment) Act, 2003, and it shall be read and construed as one with the said Accountancy Profession (Amendment) Act, 2003, hereinafter in this Part referred to as "the principal Act". Amendment of article 6 of the principal Act. 69. In article 6 of the principal Act, in subarticle

(4)in paragraph (d) thereof, for the words "chairman of the Board." there shall be substituted the words "chairman of the Disciplinary Committee.". PART XI

(2)The provisions of this Part shall come into force on such date as the Minister responsible for finance may establish by notice in the Gazette.

AI explanation based on the official legal text. Indicative, not a substitute for legal advice.