In short
This law, called the Local Loan Act, authorizes the Government of Malta to raise a specific sum of money through a loan within Malta. The purpose of this loan is to cover a deficit in the Consolidated Fund from the year 1992.
What it regulates
- The power of the Government of Malta to raise a loan.
- The maximum amount of money that can be raised through this loan.
- The method for raising the loan, specifically through the issuance of stock in Malta.
- The terms and conditions of the loan, as approved by the Minister responsible for finance.
Who it concerns
- The Government of Malta.
- The Minister responsible for finance.
Key points
- The Act authorizes a loan of money not exceeding twenty-eight million nine hundred thousand Maltese liri.
- The loan is to be raised in Malta.
- The loan's purpose is to make good the deficit incurred by the Consolidated Fund to meet expenditure during the year 1992.
- The Minister responsible for finance is authorized to issue stock in Malta for the purpose of raising the loan.
📄 Legal text
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LOCAL LOAN
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To authorise a sum of twenty-eight million nine hundred thousand
Maltese liri to be raised in Malta by way of loan for the purpose of making
good the deficit incurred by the Consolidated Fund to meet expenditure
during the year 1992.
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Enacted by ACT III of 1993 .
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🔗 Għas-sors uffiċjali
AI explanation based on the official legal text. Indicative, not a substitute for legal advice.