DEVELOPMENT LOANS (UNITED KINGDOM GOVERNMENT) ACT (gverntar-renjuunit)

DE VELOPMENT LOANS (UNITED KI N G D O M G O V E R N M ENT )

CHAPTER 185

DEVELOPMENT LOANS

(UNITED KINGDOM GOVERNMENT) ACT

To provide for the raising of loans from the Government of the United

Kingdom for the purpose of development, and for matters incidental

thereto.

(12th March, 1965) *

Enacted by ACT XI of 1965.

This Act may be cited as the Development Loans (United

Kingdom Government) Act.

(1) Subject to the provisions of this Act the Government

of Malta may borrow from time to time a sum or sums of money not

exceeding in the aggregate five million seven hundred thousand

pounds sterling by means of a loan or loans made by the

Government of the United Kingdom.

(2) Any loans under the provisions of subarticle (1) shall be on

such terms as may be agreed between the Government of Malta and

the Government of the United Kingdom.

The principal money of any loan raised under the

provisions of this Act, and the interest payable thereon, shall be

charged on and paid out of the general revenues and assets of the

Government of Malta, which are hereby appropriated to the

purpose.

Any money borrowed under the provisions of this Act shall

be appropriated and applied to the purposes specified in the Malta

Development Plan for the period 1st April, 1964 to 31st March,

1969, or in any modification, amendment or extension thereof as

may be approved from time to time by the Minister of Economic

Planning and Finance or to any other purposes agreed with the

Government of the United Kingdom in accordance with Article 3 of

the Agreement on Financial Assistance entered into on 21st

September 1964.

*See Government Notice No. 159 of 12th March, 1965.