Cap. 575 Art. 58Sinking funds. 18 [CAP.

(1) The Minister may decide to form a sinking fund for the repayment of any loan and for the purpose to repurchase government debt securities already issued.

(2) In the case the Minister decides to establish a sinking fund for the repayment of any loan of the Government, there shall be AND MANAGEMENT OF PUBLIC DEBT 575.

annual contributions in the said fund in accordance with the terms and conditions published, or any other agreement governing the said loan. The Minister shall appropriate out of the general revenue and assets of the Government of Malta a sum determined in accordance with the rate specified in the terms of the agreement or in any terms and conditions governing the said loan as contributions to the sinking fund established for the purpose of redeeming that loan and shall thereafter make a like timely appropriation up to the full repayment of the loan.

(3) The Minister may further authorise the appropriation, out of the general revenue and assets of the Government of Malta, of a contribution towards the sinking fund established specifically to repurchase loans already issued.