Cap. 575 Art. 9The raising of money by way of loan. S.L. 330.09 Cap. 330.

(1) The Minister may, in pursuance of the Recovery and Resolution Regulations made under the Malta Financial Services

Authority Act:

(a) further to a recommendation by the competent authority in consultation with the Resolution Committee, raise a sum of money by way of loan for the purpose of providing precautionary recapitalisation measures in favour of credit institutions in view of preserving financial stability; or

(b) further to a resolution action taken by the Resolution Committee in consultation with the competent authority, raise a sum of money by way of loan for the purpose of providing public backstop measures; or

(c) in close cooperation with the Resolution Committee, raise a sum of money by way of loan for the purpose of providing extraordinary public financial support through financial stabilisation tools.

(2) For the purpose of sub-article (1), the Minister is hereby authorised to borrow sums of money on such terms and subject to such conditions as the said Minister may approve under the provisions of this Act for such amount not exceeding any amount which the House of Representatives may from time to time by resolution authorise.