                            DEVELOPMENT LOAN                     [ CAP. 213.         1
CHAPTER 213 
DEVELOPMENT LOAN ACT
Amended by: 
XXIII. 1970.2; 
XIII. 1983.5.
To authorise a sum of twenty-one million liri to be raised by way of loan
for the purpose of financing the investment programme for the financial
years 1969-70 and 1970-71.
(24th February, 1970) *
Enacted by ACT III of 1970, as amended by Acts: XXIII of 1970 and XIII
of 1983.
Short title.
Power to raise 
loans .
Amended by: 
XXIII. 1970.3; 
XIII. 1983.5.
2. (1)  Subject to the provisions of this Act, the Government
of Malta may from time to time raise by way of loan a sum or sums
of money not exceeding in the aggregate twenty-one million liri
and such further sum or sums as may be necessary to defray the
expenses of any issue of stock or securities authorised by this Act.
Cap. 161.
(2) For the purpose of raising any loan as aforesaid, the
Minister responsible for finance is hereby authorised to issue stock
or securities or both under the provisions of the Local Loans
(Registered Stock and Securities) Ordinance, or to borrow in any
other manner he may deem proper; and any loan made under the
provisions of this section shall be made on such terms as the said
Minister may approve.
Purpose of loans. 
Amended by: 
XXIII. 1970.4.
3. (1) Any sum raised to defray the expenses of any such
issue as aforesaid shall be applied only to that purpose.
(2) Save as provided in subsection (1) of this section, any
money borrowed under the authority of this Act shall be
appropriated and applied to meet capital expenditure incurred in
respect of the financial years ending respectively on 31st March,
1970 and on 31st March, 1971 and authorised by an Appropriation
Act or charged on the Consolidated Fund by any other law for the
time being in force.
Commencement of 
contribution to 
sinking fund.
4. In respect of loans raised under the provisions of the
Ordinance aforesaid, the first contribution to the sinking fund as
contemplated by the provisions of paragraph   ( e ) of subsection (1)
of section 6 and of section 25 of the said Ordinance shall be made
not later than three years after the date from which the interest on
the loan hereby authorised shall commence to run.
Charge on 
Consolidated 
Fund.
5. In respect of any loan other than a loan raised as mentioned
in section 4 of this Act, the principal money of any such loan and
the interest payable thereon shall be a charge on the Consolidated
Fund and shall be payable out of the general revenues and assets of
the Government of Malta which are hereby appropriated to the
purpose.
* See  Government Notice No. 128 of the 24 February, 1970.
