ACT No. XXIII of 2016 AN ACT to amend the Local Loans (Registered Stock and Securities) Ordinance, Cap. 161.

I assent.

M ARIE- L OUISE

(L.S.)

C OLEIRO P RECA

President

6th May, 2016

ACT No. XXIII of 2016

AN ACT to amend the Local Loans (Registered Stock and

Securities) Ordinance, Cap. 161.

BE IT ENACTED by the President, by and with the advice and

consent of the House of Representatives, in this present Parliament

assembled, and by the authority of the same, as follows:-

The short title of this Act is the Local Loans (Registered Short title.

Stock and Securities) Ordinance (Amendment) Act, 2016, and this

Act shall be read and construed as one with the Local Loans

(Registered Stock and Securities) Ordinance, hereinafter referred to

as "the Ordinance".

Immediately after article 4A of the Ordinance, there shall Addition of new

article 4B to the

be added the following new article

Ordinance.

" Raising and

(1) The Minister responsible for

lending of

finance may represent the Republic of Malta

money in terms

when entering into the Loan Facility

of the Loan

Facility

Agreement with the Single Resolution Board

Agreement

with the Single

in pursuance of Regulation (EU) No. 806/

Resolution

2014 of the European Parliament and of the

Board.

Council of 15 July 2014 establishing uniform

rules and a uniform procedure for the

resolution of credit institutions and certain

investment firms in the framework of a Single

Resolution Mechanism and a Single

Resolution Fund and amending Regulation

(EU) No. 1093/2010.

(2) The Minister responsible for

finance may, in terms of the Loan Facility

Agreement between the Republic of Malta

and the Single Resolution Board referred to in

sub-article (1), raise a sum of money by way

of loan for the purpose of lending to the

Single Resolution Board an unsecured loan

facility of up to sixty-six million Euro

(€66,000,000).

(3) For the purposes of sub-articles (1)

and (2) the Minister responsible for finance is

hereby authorised to borrow sums of money

on such terms and subject to such conditions

as the said Minister may approve under the

provisions of this Ordinance for an amount

which in total does not exceed sixty-six

million Euro (€66,000,000).".

Passed by the House of Representatives at Sitting No. 384 of the

3rd May, 2016.

A NĠLU F ARRUGIA

Speaker

R AYMOND S CICLUNA

Clerk of the House of Representatives