Cap. 617 Art. 3Authority to issue guarantees.

Subject to the provisions of this Act, the Government of

Malta may issue unconditional, irrevocable and on-demand guarantees to the European Union by entering into a voluntary guarantee agreement with the European Commission pursuant to Article 11 of Council Regulation (EU) 2020/672 of 19 May 2020 on the establishment of a European instrument for temporary support to mitigate unemployment risks in an emergency (SURE) following the COVID-19 outbreak to enable Malta to contribute to the Instrument.