The object of this Bill is to enable the Minister for finance to raise money by way of loan for the purpose of lending to the Single Resolution Board an unsecured loan facility of up to sixty-six million Euro (€66,000,000) in terms of the Loan Facility Agreement between the Republic of Malta and the Single Resolution Board to be entered into in pursuance of Regulation (EU) No 806/2014 of the European Parliament and of the Council of 15 July 2014 establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) No 1093/2010.
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