Cap. 229 Art. 2Power to raise loans.

(1) Subject to the provisions of this Act, the Government of Malta may, by or in pursuance of agreements concluded with the

Government of any other country, or with any international or foreign organisation, fund or other institution, borrow sums of money not exceeding in the aggregate an amount corresponding to fifty-eight million, two hundred and thirty-four thousand and three hundred and thirty-four euro and ninety-six cents (58,234,334.96), or such higher sum as the House of Representatives may from time to time by resolution determine.

(2) Any loan made under the authority of this Act shall be on such terms, conditions and modalities as may be agreed between the Government of Malta and the Government, organisation, fund or other institution making the loan.