LOCAL LOAN ACT

LOCAL LOAN

CHAPTER 384

LOCAL LOAN ACT

To authorise a sum not exceeding thirty-two million, five hundred

thousand liri to be raised in Malta by way of loan for the purpose of

making good the deficit incurred by the Consolidated Fund to meet

expenditure during the year 1994.

(13th June, 1995) *

Enacted by ACT XVIII of 1995 .

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-two million, five 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

incurred during the year 1994.

*See Government Notice No. 385 of 13th June, 1995.