Cap. 393 Art. 2Authority to raise loan.

(1) Subject to the provisions of this Act, the Government of Malta may raise, by way of loans, both in Malta and outside

Malta, a sum of money not exceeding one hundred and seventy-five million Maltese liri.

(2) For the purpose of raising the aforesaid loans, the Minister responsible for finance is hereby authorised to borrow sums of money, on such terms and conditions as the said Minister may approve, under the provisions either:

(a) of the Development Loan Act, in respect of loans raised outside Malta; and, or

(b) of the Local Loans (Registered Stock and Securities) Ordinance, in order to issue stock in Malta.