Cap. 505 чл. 4Payment and issuing of guarantees.

(1) Any financial instrument or financial arrangement issued or entered into by the European Financial Stability Facility for the purpose of article 3(2), shall be guaranteed by the

Government of Malta subject to the terms incorporated in the European Financial Stability Facility Framework Agreement: Provided that the guarantee issued by the Government of Malta shall not exceed the aggregate amount of euro 704.33 million.

(2) Any guarantee issued by the Government of Malta for financial instruments or financial arrangements issued by the European Financial Stability Facility beyond the purpose specified under sub-article (1) may only be done in such manner and for such purpose as the House of Representatives may by resolution determine. on the 7th June 2010

EFSF FRAMEWORK AGREEMENT between KINGDOM OF BELGIUM FEDERAL REPUBLIC OF GERMANY IRELAND KINGDOM OF SPAIN FRENCH REPUBLIC ITALIAN REPUBLIC REPUBLIC OF CYPRUS GRAND DUCHY OF LUXEMBOURG REPUBLIC OF MALTA KINGDOM OF THE NETHERLANDS REPUBLIC OF AUSTRIA PORTUGUESE REPUBLIC REPUBLIC OF SLOVENIA SLOVAK REPUBLIC REPUBLIC OF FINLAND HELLENIC REPUBLIC AND EUROPEAN FINANCIAL STABILITY FACILITY 7 June 2010 EFSF FRAMEWORK AGREEMENT (the "Agreement") between:

(A) Kingdom of Belgium, Federal Republic of Germany, Ireland, Spain, French Republic, Italian Republic, Republic of Cyprus, Luxembourg, Republic of Malta, Kingdom of the Netherlands, Republic Portuguese Republic, Republic of Slovenia, Slovak Republic, Republic and the Hellenic Republic (the "euro-area Member States Shareholders"); and

(B) European Financial Stability Facility ("EFSF"), a société incorporated in Luxembourg, with its registered office at 3, rue de L-1352 Luxembourg (the euro-area Member States and EFSF referred the "Parties"). PREAMBLE

Whereas:

(1) On 9 May 2010 a comprehensive package of measures including (a) a Council Regulation establishing the European Financial Mechanism ("EFSM") based on Article 122(2) of the Treaty on the the European Union and (b) the EFSF in order to financially support Member States in difficulties caused by exceptional circumstances Member States’ control. It is envisaged that financial support to euro-area States shall be provided by EFSF in conjunction with the IMF comparable terms to the stability support loans advanced by euro-area States to the Hellenic Republic. be conditional upon the relevant euro-area Member States which loans entering into memoranda of understanding (each an "MoU") with Commission, acting on behalf of the euro-area Member States, in budgetary discipline and economic policy guidelines and their with the terms of such MoU. With respect to each Loan Facility relevant beneficiary euro-area Member State shall be referred to as decision of the representatives of the governments of the 16 euro-area dated 7 June 2010, acting on the basis of the conclusions of the 27 of 9 May 2010, the Commission was tasked with carrying out certain functions as contemplated by the terms of this Agreement. shall finance the making of such loans by issuing or entering into commercial paper, debt securities or other financing arrangements Instruments") which are backed by irrevocable and unconditional a "Guarantee") of the euro-area Member States which shall act as respect of such Funding Instruments as contemplated by the terms of The guarantors (the "Guarantors") of Funding Instruments issued by EFSF shall be comprised of each euro-area Member State euro-area Member State which is or has become a Stepping-Out Article 2(7) prior to the issue of such Funding Instruments). political decision has been taken by all euro-area Member States to Guarantee Commitments (as defined in Article 2(3)) pursuant to the terms of euro-area Member States and EFSF have entered into this Agreement to and conditions upon which EFSF may make Loans to euro-area finance such Loans by issuing or entering into Funding Instruments Guarantees issued by the Guarantors, the terms and conditions on which shall issue Guarantees in respect of the Funding Instruments issued by EFSF, the arrangements entered into between them in the event Guarantor is required to pay under a Guarantee more than its required liabilities in respect of a Funding Instrument and certain other matters therefore, the Parties have agreed as follows:

INTO FORCE Agreement (with the exception of the obligation of euro-area Member Guarantees under this Agreement) shall, upon at least five (5) euro-States comprising at least two-thirds (2/3) of the total guarantee out in Annex 1 (the "Total Guarantee Commitments") providing confirmation substantially in the form of Annex 3 to EFSF that they have procedures necessary under their respective national laws to ensure obligations under this Agreement shall come into immediate force and "Commitment Confirmation"), enter into force and become binding and the euro-area Member Sates providing such Commitment obligation of euro-area Member States to issue Guarantees under this enter into force and become binding between EFSF and the euro-applies for stability support from the euro-area Member States or from financial support under a similar programme or which is already Out Guarantor shall be excluded in computing whether this ninety threshold of the Total Guarantee Commitments is satisfied.

(3) This Agreement and the obligation to provide Guarantees with the terms of this Agreement shall enter into force and become remaining euro-area Member States (which have not provided their Confirmations at the time the Agreement or the obligation to provide comes into force pursuant to Article 1(1) or 1(2)) at the time when Member States provide their Commitment Confirmation to EFSF should be addressed to the Commission.