Chapter 469 – Budget Measures Implementation (2004) Act
What is this act about?
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.
Who it applies to: The Government of Malta; The Minister responsible for finance.
At a glance
- Country
- Malta
- Area of law
- Administrative law
- Articles
- 6
- Source
- legislation.mt
- Text retrieved
- Explanation updated
What does this act regulate?
- 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 does this act apply to?
- The Government of Malta.
- The Minister responsible for finance.
What are the 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.
Administrative law
Legal text
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 .
Art. 1
The short title of this Act is the Budget Measures Implementation (2004) Act.
Short title.
PART I
Art. 2
The provisions of this Part shall be deemed to have come into force on the 1st January, 2004.
Coming into force of this Part.
Art. 3
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.
Art. 4
Authority to raise loan.
Amended by:
L.N. 427 of 2007.
Art. 5
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
Art. 6
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. 2010.72.
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 2003.
Amendment of article 6 of the principal Act.