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Local Loan Act (Cap. 357) Consolidated

LOCAL LOA N [ CAP. 357. 1

CHAPTER 357

LOCAL LOAN ACT

To authorise a sum of thirty-six million Maltese 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 1991.

(12th May, 1992)*

Enacted by ACT II of 1992.

1. This Act may be cited as the Local Loan Act.

2. (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-six million 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.

Short title.

Power to raise loan.

Cap. 161.

3. Any money borrowed under the authority of this Act shall be appropriated and applied for the purpose of making good the de ficit incurred by the Cons olidated Fund to meet expend iture during the year 1991.

Purpose of loan.

*See Government Notice No. 291 of 12th May, 1992.