FINANCIAL ASSISTANCE ġ S.L.146.01 1
SUBSIDIARY LEGISLATION 146.01
FINANCIAL ASSISTANCE ARRANGEMENTS
28th July, 1981
LEGAL NOTICE 83 of 1981, as amended by Legal Notices 44 and 54 of
1986, and 142 of 1993.
Title.
Arrangements.
The Commission.
Amended by:
L.N. 44 of 1986;
L.N. 54 of 1986.
Substituted by:
L.N. 142 of 1993.
Cap. 146
2. (1) The Director of Agriculture, a representative of the
Attorney General, a representative of the Permanent Secretary at
the Ministry of Finance, a representative of the Chairman of the
Co-operatives Board, an Assistant Head in the Department of
Agriculture and two public officers, one performing duties at the
Ministry of Agriculture, both appointed for the purpose by the
Minister responsible for agriculture, shall constitute a Commission
to consider applications for financial assistance under the
Agricultural and Fishing Industries (Financial Assistance) Act,
hereinafter referred to as "the Act".
(2) The Director of Agriculture shall be the Chairman of the
Commission and he shall designate an officer of the Department of
Agriculture to act as Secretary to the Commission.
Applications.
made on a form approved by the Commission which shall be sent to
the Secretary of the Commission at the Department of Agriculture.
Persons entitled to 
apply for 
assistance.
4. Only citizens of Malta permanently resident in Malta shall
be entitled to apply for assistance under the Act.
Information and 
evidence required.
5. Applicants for financial assistance shall furnish to the
Commission such information and evidence as the Commission
may require for the purpose of considering the application.
Assistance to be 
given only on 
recommendation.
Amended by:
L.N. 142 of 1993.
6. Financial assistance under the Act shall only be given on
the recommendation of the Commission with the approval of the
Minister responsible for agriculture or an officer nominated by him
for the purpose.
Agreements to be 
made by a private 
writing or by 
notarial deed.
Amended by:
L.N. 142 of 1993.
7. Any agreement relating to the giving of financial
assistance under the Act shall be made by a private writing or by a
notarial deed, as the case may require, and shall be executed on
behalf of the Government of Malta by the Director of Agriculture,
or by an officer not below the rank of Assistant Head in the
Department of Agriculture delegated by the Director to act in this
behalf.
Assistance may be 
given subject to 
conditions, 
agreements and 
obligations.
Amended by:
L.N. 142 of 1993.
8. Financial assistance under the Act may be given subject to
such conditions, agreements and obligations imposed upon or
undertaken by the recipient as the Commission may advise. Such
conditions and obligations shall include an undertaking on the part
of the recipient -
2 ġ S.L.146.01 FINANCIAL ASSISTANCE
( a ) to repay any loan together with the interest thereon in
accordance with the terms of the agreement;
( b ) not to sell nor dispose of in any other manner, the
property in or the possession of anything acquired or
improved with the aid of a loan or grant without the
previous consent in writing of the Minister responsible
for agriculture before the loan is completely repaid or,
in the case of a grant, during such period as the
agreement may prescribe;
( c ) to maintain anything purchased or improved with the
aid of the financial assistance afforded, in proper order
and condition to the satisfaction of the Minister
responsible for agriculture, and allow any person
authorised by the Minister responsible for agriculture
to inspect such thing at all reasonable times;
( d ) in the event of the recipient failing to comply with all
the terms of the agreement with the Government
entered into by him in respect of the financial
assistance afforded, the total amount of such assistance
shall become repayable to the Government
immediately.
Repayment. 9. Loans made under these arrangements shall be repaid as
follows -
Up to Lm1,000 within a maximum period of 5 years.
Over Lm1,000 and up to Lm3,000 within a maximum
period of 7 years.
Over Lm3,000 and up to Lm5,000 within a maximum
period of 10 years.
Over Lm5,000 and up to Lm10,000 within a maximum
period of 15 years.
Over Lm10,000 within a maximum period of 20 years.
Rate of interest. 10. The rate of interest payable on loans made under the terms
of these Arrangements, shall be at rates of not less than three  per
centum   per annum  nor more than the ruling commercial rate of
interest.
