Chapter 349 – Local Loan Act
What is this act about?
This law authorizes the Government of Malta to borrow money to cover a deficit in the Consolidated Fund from 1990.
Who it applies to: The Government of Malta; The Minister responsible for finance.
At a glance
- Country
- Malta
- Area of law
- Other legislation
- Articles
- 3
- Source
- legislation.mt
- Text retrieved
- Explanation updated
What does this act regulate?
- The raising of a loan by the Government of Malta.
- The maximum amount of money that can be borrowed.
- The method for raising the loan (issuing stock).
- The purpose for which the borrowed money must be used.
Who does this act apply to?
- The Government of Malta.
- The Minister responsible for finance.
What are the key points?
- The Government of Malta can raise a loan not exceeding thirty-four million four hundred thousand Maltese Liri.
- The loan is to be raised in Malta.
- The Minister responsible for finance is authorized to issue stock under the Local Loans (Registered Stock and Securities) Ordinance.
- The borrowed money is specifically for making good the deficit incurred by the Consolidated Fund for expenditure during the year 1990.
Other legislation
Legal text
Legal text
LOCAL LOAN
CHAPTER 349
LOCAL LOAN ACT To authorise the sum of thirty-four million four hundred thousand Maltese liri by way of loan for the purpose of making good the deficit incurred by the Consolidated Fund to meet expenditure during the year 1990. (12th March, 1991)* Enacted by ACT VII of 1991 .
Art. 1
This Act may be cited as the Local Loan Act.
Art. 2
Art. 3
Any money borrowed under the authority of this Act shall be appropriated and applied for the purpose of making good the deficit incurred by the Consolidated Fund to meet expenditure during the year 1990. *See Government Notice No. 212 of 12th March, 1991.
Short title.
Power to raise loan.
Purpose of loan.