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Development Loans (United Kingdom Government) Act (Cap. 185) Consolidated

DEVELOPMENT LOANS ( U NI TED KI NG DO M G O V ERN ME NT) [CAP. 185. 1

CHAPTER 185

DEVELOPMENT LOANS

(UNITED KINGDOM GOVERNMENT) ACT

To provide for the raising of loans from the Government of the United Kingdom for the purpose of development, and for matters incidental thereto.

Enacted by ACT XI of 1965.

(12th March, 1965)*

l. This Act may be cited as the Development Loans (United

Kingdom Government) Act.

2. (1) Subject to the provisions of this Act the Government of Malta may borrow from time to time a sum or sums of money not exceeding in the aggregate five million seven hundred thousand pounds sterling by means of a loan or loans made by the Government of the United Kingdom.

(2) Any loans under the provisions of subarticle (1) shall be on such terms as may be agreed between the Government of Malta and the Government of the United Kingdom.

Short title.

Powers to borrow from the United Kingdom Government.

3. The principal money of any loan raised under the provisions of this Act, and the interest payable thereon, shall be charged on and paid out of the general revenues and assets of the G o v e rn ment of Malt a, whi c h are hereby app r opr iated t o the purpose.

4. Any money borrowed under the provisions of this Act shall be appropriated and applied to the purposes specified in the Malta Development Plan for the period 1st April, 1964 to 31st March,

1969, or in any modification, amendment or extension thereof as may be approved from time to time by the Minister of Economic Pl anni ng and Finan ce or t o an y oth er purposes agreed w ith th e
Government of the United Kingdom in accordance with Article 3 of the Agreement on Financia l Assi stance entered into on 21st September 1964.

Loans to be charged on general revenues and assets.

Application of loan.

*See Government Notice No. 159 of 12th March, 1965.