Chapter 366
In short
This law authorizes the Government of Malta to borrow up to thirty million Maltese liri within Malta to cover the deficit in the Consolidated Fund for the year 1993.
What it regulates
- The power of the Government of Malta to raise a loan.
- The maximum amount of money that can be borrowed.
- The method for raising the loan, specifically through the issuance of stock.
- The purpose for which the borrowed money must be used.
Who it concerns
- The Government of Malta.
- The Minister responsible for finance.
Key points
- A sum not exceeding thirty million Maltese liri can be raised.
- The loan must be raised in Malta.
- The loan is for the purpose of making good the deficit incurred by the Consolidated Fund to meet expenditure during the year 1993.
- The Minister responsible for finance is authorized to issue stock under the Local Loans (Registered Stock and Securities) Ordinance.
Legal text
Legal text
LOCAL LOAN CHAPTER 366 LOCAL LOAN ACT To authorise a sum not exceeding thirty million 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 1993. (1st February, 1994)* Enacted by ACT II of 1994 . 1. This Act may be cited as the Local Loan Act. 2.
(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 thirty million Maltese liri.
(2)For the purpose of raising the loan as aforesaid, 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; and the loan made under the provisions of this section shall be made on such terms and conditions as the said Minister may approve.
- 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
- *See Government Notice No. 87 of 1st February,
- Short title. Power to raise loan. Purpose.