Cap. 502 Art. 3Authority to raise loan. Cap. 161.

(1) Subject to the provisions of this Act, the Government of Malta may, for the purposes of article 4, borrow sums of money in Malta, for an amount which in total do not exceed thirty million Euro and such other sums of money as the House of Representatives may from time to time by resolution authorise.

(2) For the purpose of raising the aforesaid sums of money by way of loan, the Minister is hereby authorised to borrow the said sums of money on such terms and subject to such conditions as the said Minister may approve under the provisions of the Local Loans

(Registered Stock and Securities) Ordinance, in order to issue stock

*See article 1(2) of the Act as originally enacted, and Legal Notice 360 of 2010. financing requirements of the Loan Facility Agreement and the Intercreditor Agreement until such time as the proceeds of the borrowing referred to in article 3 shall be obtained.