ITALIAN GOVERNMENT LOAN ACT

ITALIAN GOVERNMENT LOAN

CHAPTER 208

ITALIAN GOVERNMENT LOAN ACT

To provide for the raising of loans or the acceptance of credit facilities

from, or authorized by, the Government of the Republic of Italy for

purposes of development or purposes connected therewith, and for matters

incidental thereto.

(1st July, 1968) *

ACT XVIII of 1968, as amended by Act XIII of 1983 and Legal Notice

411 of 2007.

The short title of this Act is the Italian Government Loan

Act.

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

of Malta may borrow such sum or sums as may be required, not

exceeding in the aggregate four million, six hundred and fifty-eight

thousand and seven hundred and forty-six euro and eighty cents

(4,658,746.80) or such higher sum as the House of Representatives

may, by resolution, approve, by means of a loan or loans or through

credit facilities made, granted or authorized by the Government of

the Republic of Italy.

(2) Any loan or credit facility under the provisions of

subarticle (1) shall be in such manner, on such terms and subject to

such conditions as may be agreed between the Government of

Malta and the Government of the Republic of Italy or as may be

agreed in accordance with arrangements provided for by agreement

between the Governments aforesaid.

The repayment of the principal money of any sum

borrowed under the provisions of this Act, and the payment of any

interest payable thereon and of all charges payable in connection

therewith, shall be a charge on the Consolidated Fund.

Any money borrowed under the provisions of this Act shall

be applied to such purposes of development or purposes connected

therewith as the Government of Malta, subject to any agreement in

respect thereof between the Government of Malta and the

Government of the Republic of Italy, may deem proper.

*See Government Notice No. 470 of the 1st of July, 1968.