FINANCIAL ASSISTANCE ARRANGEMENTS

FINANCIAL ASSISTANCE

SUBSIDIARY LEGISLATION 146.01

FINANCIAL ASSISTANCE ARRANGEMENTS

28th July, 1981

LEGAL NOTICE 83 of 1981, as amended by Legal Notices 44 and 54 of

1986, 142 of 1993 and 409 of 2007.

The title of these Arrangements is Financial Assistance

Arrangements.

(1) The Director of Agriculture, a representative of the

Attorney General, a representative of the Permanent Secretary at

the Ministry of Finance, a representative of the Chairman of the

Co-operatives Board, an Assistant Head in the Department of

Agriculture and two public officers, one performing duties at the

Ministry of Agriculture, and the other at the Gozo section of the

department, both appointed by the Minister responsible for

agriculture, shall constitute a Commission to consider applications

for financial assistance under the Agricultural and Fishing

Industries (Financial Assistance) Act, hereinafter referred to as "the

Act".

(2) The Director of Agriculture shall be the Chairman of the

Commission and he shall designate an officer of the Department of

Agriculture to act as Secretary to the Commission.

Applications for financial assistance under the Act shall be

made on a form approved by the Commission which shall be sent to

the Secretary of the Commission at the Department of Agriculture.

Only citizens of Malta permanently resident in Malta shall

be entitled to apply for assistance under the Act.

Applicants for financial assistance shall furnish to the

Commission such information and evidence as the Commission

may require for the purpose of considering the application.

Financial assistance under the Act shall only be given on

the recommendation of the Commission with the approval of the

Minister responsible for agriculture or an officer nominated by

him.

Any agreement relating to the giving of financial

assistance under the Act shall be made by a private writing or by a

notarial deed, as the case may require, and shall be executed on

behalf of the Government of Malta by the Director of Agriculture,

or by an officer not below the rank of Assistant Head in the

Department of Agriculture delegated by the Director to act in this

behalf.

Financial assistance under the Act may be given subject to

such conditions, agreements and obligations imposed upon or

undertaken by the recipient as the Commission may advise. Such

conditions and obligations shall include an undertaking on the part

of the recipient -

FINANCIAL ASSISTANCE

(a) to repay any loan together with the interest thereon in

accordance with the terms of the agreement;

(b) not to sell nor dispose of in any other manner, the

property in or the possession of anything acquired or

improved with the aid of a loan or grant without the

previous consent in writing of the Minister responsible

for agriculture before the loan is completely repaid or,

in the case of a grant, during such period as the

agreement may prescribe;

(c) to maintain anything purchased or improved with the

aid of the financial assistance afforded, in proper order

and condition to the satisfaction of the Minister

responsible for agriculture, and allow any person

authorised by the Minister responsible for agriculture

to inspect such thing at all reasonable times;

(d) in the event of the recipient failing to comply with all

the terms of the agreement with the Government

entered into by him in respect of the financial

assistance afforded, the total amount of such assistance

shall become repayable to the Government

immediately.

Loans made under these arrangements shall be repaid as

follows -

Up to €2,329.37 within a maximum period of 5 years.

Over €2,329.37 and up to €6,988.12 within a

maximum period of 7 years.

Over €6,988.12 and up to €11,646.87 within a

maximum period of 10 years.

Over €11,646.87 and up to €23,293.73 within a

maximum period of 15 years.

Over €23,293.73 within a maximum period of 20

years.

The rate of interest payable on loans made under the terms

of these Arrangements, shall be at rates of not less than three per

centum per annum nor more than the ruling commercial rate of

interest.