Cap. 455 Art. 25Powertoborrowor raise capital.

(1) For the purpose of carrying out any of its functions under this Act, SportMalta may, with the approval in writing of the

Minister, given after consultation with the Minister responsible for finance, borrow or raise money in such manner, from such person, body or authority, and under such terms and conditions as the Minister, after consultation as aforesaid, may in writing approve.

(2) SportMalta may also, from time to time, borrow, by way of overdraft or otherwise, such sums as it may require by way of working capital for carrying out its functions under this Act: Provided that for any facility in an amount exceeding sixty-nine thousand and eight hundred and eighty-one euro and twenty cents (69,881.20), there shall be required the approval of the Minister in writing.