 DEVELOPMENT LOAN   [ CAP. 229.        1
CHAPTER 229
DEVELOPMENT LOAN ACT
To authorise and regulate the raising of loans for purposes relating to
economic development.
(9th May, 1972) *
Enacted by ACT XVII of 1972, as amended by Acts: XXXV of 1973, XIII
of 1983 and XII of 1988.
Short title.
Power to raise 
loans. 
Amended by: 
XXXV.1973.2; 
XIII.1983.5; 
XII. 1988.2.
2. (1) Subject to the provisions of this Act, the Government
of Malta may, by or in pursuance of agreements concluded with the
Government of any other country, or with any international or
foreign organisation, fund or other institution, borrow sums of
money not exceeding in the aggregate an amount corresponding to
twenty-five million liri, or such higher sum as the House of
Representatives may from time to time by resolution determine.
(2) Any loan made under the authority of this Act shall be on
such terms, conditions and modalities as may be agreed between
the Government of Malta and the Government, organisation, fund
or other institution making the loan.
Purpose of loans.
appropriated and applied -
( a ) to meet expenditure relating to the development of the
economy of Malta, being expenditure authorised by an
Appropriation Act or charged on the Consolidated
Fund by any other law for the time being in force; or
( b ) to any other purpose approved by resolution of the
House of Representatives.
Loans to be 
charged on general 
revenues.
4. The principal money of any loan made under the authority
of this Act, 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. 357 of  9th May, 1972.
