Chapter 366 – Local Loan Act
What is this act about?
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.
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 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 does this act apply to?
- The Government of Malta.
- The Minister responsible for finance.
What are the 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.
Other legislation
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 .
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 1993. *See Government Notice No. 87 of 1st February, 1994.
Short title.
Power to raise loan.
Purpose.