Micro Loan Guarantee (Amendment) Regulations, 2013

L.N. 428 of 2013

MALTA ENTERPRISE ACT

(CAP. 463)

Micro Loan Guarantee (Amendment) Regulations, 2013

IN exercise of the powers conferred upon him by article 5 of the

Malta Enterprise Act, the Minister for the Economy, Investment and

Small Business, in consultation with the Malta Enterprise

Corporation, has made the following regulations:-

The title of these regulations is the Micro Loan Guarantee Citation.

(Amendment) Regulations, 2013, and these regulations shall be read

and construed as one with the Micro Loan Guarantee Regulations, S.L. 463.08

hereinafter referred to as "the principal regulations".

Regulation 2 of the principal regulations shall be amended Amends

regulation 2 of

as follows

the principal

regulations.

(a)

in the definition "assisted loan", for the words "an

authorised bank" there shall be substituted the words "a licensed

commercial bank";

(b)

the definition "authorised bank" shall be deleted;

and

(c)

in the definition "eligible enterprise"

(i) for the words "one to twenty persons", there

shall be substituted the words "one to fifty persons";

(ii) for the words "the sum of four million euro

(€4,000,000)" there shall be substituted the words "the sum

of ten million euro (€10,000,000)"; and

(iii) for the words "shall not exceed two million

euro (€2,000,000)" there shall be substituted the words

"the sum of ten million euro (€10,000,000)".

Regulation 3 of the principal regulations shall be amended Amends

regulation 3 of

as follows

the principal

regulations.

(a)

in sub-regulation (1) thereof, the words "from an

authorised bank" shall be deleted; and

(b) in sub-regulation (2) thereof, the words "and may

only be approved by an approved bank" shall be deleted.

In regulation 5 of the principal regulations, for the words

"ten years and six months" there shall be substituted the words "ten

years".

In sub-regulation (1) of regulation 6 of the principal

regulations, for the words "due to the authorised bank" there shall be

substituted the words "due to the bank".

Regulation 7 of the principal regulations shall be deleted.

Regulations 8 and 9 of the principal regulations shall be re-

numbered as regulation 7 and regulation 8 respectively.

In regulation 7 of the principal regulations, as re-

numbered, for the words "and the authorised bank", wherever they

occur, there shall be substituted the words "and the bank".

Sub-regulation (2) of regulation 8 of the principal

regulations, as re-numbered, shall be deleted.

€0.18