LOCAL LOAN ġ CAP. 428.  1
CHAPTER 428
LOCAL LOAN ACT
AN ACT to authorise that a sum not exceeding one hundred million
Maltese liri be raised in Malta by way of loan for the purpose of meeting
excess expenditure over revenue incurred in the Consolidated Fund during
the years 1999 and 2000 and that expected to be incurred during the year
2001.
23rd February, 2001
ACT VII of 2001.
Short title and 
commencement.
1. The short title of this Act is Local Loan Act.
Interpretation.
Cap. 174.
2.  For the purposes of this Act, "revenue" has the same
meaning as is assigned to it in article 2 of the Financial
Administration and Audit Act, but does not include proceeds from
local loans.
3. (1) Subject to the provisions of this Act, the Government
of Malta may raise in Malta, by way of loan, a sum of money not
exceeding one hundred million Maltese liri.
Cap. 161.
(2) For the purpose of raising the aforesaid loan the Minister
responsible for finance is hereby authorised to issue stock in Malta
under the provisions of the Local Loans (Registered Stock and
Securities) Ordinance on such terms and conditions as the said
Minister may approve.
Purpose.
be appropriated and applied for the purpose of meeting excess
expenditure over revenue incurred in the Consolidated Fund during
the years 1999 and 2000, and that projected to be incurred during
the year 2001:
Provided that any amount borrowed under this section in
excess of the amount actually required for the said purposes and
remaining as a balance in the Consolidated Fund at the end of 2001,
shall be used to meet excess expenditure over revenue in the
Consolidated Fund during the first subsequent year in which such
excess is incurred.
