ACT No. IX 0/ 1991 A N A CTlo~ndlheC;~ilCode, CtJp. 16.

CENsu T A UONE

(L.S. )

President

14th July. 1992

ACT No. IX 0/ 1991

A N A CTlo~ndlheC;~ilCode, CtJp. 16.

BE IT ENACTE D by the President, by and with the advice and

consent of the House of Representatives. in Ihis present Parli ament

aMCmblc::d, and by IM authority of the same, as follows:-

I. This Act ma y be cited as IM Civil Code (Amendment) Act .

1992, and shan be read and construed as one with the Ci vil Code,

M

here inafter referred 10 as "the principallaw

•

Immediately after subsection (4) of $«lion 1852 of the

principilllaw there shall be added the followi ng IUbs«1ion (5)

M(5) Notwithstanding anything contained in the foregoing

provisions of this section. or in any othe r provision of law. but

c .... 2Jl without prejudicc 10 the provisiQns of 111<: Exchange. Control Act.

where an obl igll tion 10 pay interest 81 • rate higher 1han eight per

cc nt per annum arises .. oder the law ofa oountryOlhcrthan Malt ...

or is regulated by ,uch a law. in accordance with market condition s

prevailing in such other country or with intcrnationhl market

conditions. and the amount is denomina ted and payable in a

foreign currency. $uch higher rate of interest shall for all inten~ and

pu~ be recognized as valid and be en f~able in M al ta .~.

Passed by the House of Represen(D.tives at Silling No . 3601 the 8th July. 1992.

R10IAKD 1. CAUO I1

Citric 10lM HQl4$e of Represtnrativa.

J_!nformaz:gom KamlJ' N>!clItd b)- tho o.p.nm.m mlnfomlllim _ C..,fiiU

!~ mtd-Dipammrnt'"

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