LOCAL LOAN ACT

LOCAL LOAN

CHAPTER 349

LOCAL LOAN ACT

To authorise the sum of thirty-four million four hundred thousand

Maltese liri by way of loan for the purpose of making good the deficit

incurred by the Consolidated Fund to meet expenditure during the year

1990. (12th March, 1991) *

Enacted by ACT VII of 1991 .

This Act may be cited as the Local Loan Act.

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

of Malta may raise in Malta by way of loan a sum of money not

exceeding thirty-four million four hundred thousand Maltese Liri.

(2) For the purpose of raising the loan as aforesaid, the

Minister responsible for finance is hereby authorised to issue stock

in Malta under the provisions of the Local Loans (Registered Stock

and Securities) Ordinance; and the loan made under the provisions

of this section shall be made on such terms and conditions as the

said Minister may approve.

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 1990.

*See Government Notice No. 212 of 12th March, 1991.