Go Back
Government Notices published in Govt. Gazette No. 19,209 of 14 February 2014
01/01/2014
No. 142
PUBLICATION OF ACTS IN SUPPLEMENT
IT is notified for general information that the following Acts are published in the Supplement to this Gazette:
Act No. II of 2014 entitled the Criminal Code (Amendment No. 2) Act, 2014; and
Act No. III of 2014 entitled the Criminal Code (Amendment No. 3) Act, 2014.
No. 143
PUBLICATION OF BILL IN SUPPLEMENT
IT is notified for general information that the following Bill is published in the Supplement to this Gazette:
Bill No. 39 entitled the Marriage (Amendment) Act, 2014.
No. 144
ARMED FORCES OF MALTA
REGULAR FORCE
THE President of Malta has been pleased to approve the transfer of Colonel Harold Stivala from the Active List of the Armed Forces of Malta Regular Force to the Regular Reserve of Officers, on retirement, with effect from 12th February, 2014.
Nru. 145
Money Laundering Act
(Cap. 373)
Board of Governors
It is hereby notified that, in terms of Article 19 of the Prevention of Money Laundering Act, the Minister for Finance has appointed the following persons to serve on the Board of Governors of the Financial Intelligence Analysis Unit.
Furthermore, in terms of Article 20 of the same Act, the Prime Minister, in consultation with the Minister for Finance, has appointed the Chairman and Deputy Chairman of the said Board of Governors, as follows:
Chairman
Dr Peter Grech, LL.D.
Deputy Chairman
Dr Anton Bartolo, LL.D.
Members
Mr Anthony P Cortis
Supt Silvio Valletta
Secretary
Dr Manfred Galdes, LL.D.
These appointmentsare for a period of three years up to 22nd January, 2017.
No. 146
BURIALS ORDINANCE
CAP. 17
Burials Board
IN exercise of the powers conferred by Article 9 of the Burials Ordinance, and for the purposes of that Ordinance, the following persons shall be appointed on the Burials Board for a period of one year as follows:
Chairperson
Mr Joe Debono
Members
Rev. Carmelo Busuttil
Arch. Daniel Micallef
No. 147
SOCIAL SECURITY ACT
CAP. 318
Appointment of Umpires
IN exercise of the powers conferred by Article 107 of the Social Security Act, the Minister for the Family and Social Solidarity is pleased to appoint the Hon. Judge Dr Franco Depasquale, LL.D., Dr Reno Borg, LL.D., Dr Noel Camilleri, LL.D., Dr Andy Ellul, LL.D., Dr Joseph Mifsud, LL.D., Dr Edward Gatt, LL.D., Dr Shaheryar Ghaznavi, LL.D., Dr Adrian Camilleri, LL.D., and Dr Vincent Micallef, LL.D., to be Umpires for the purposes of the said Act.
These appointments are for a period of one year with effect from the 3rd February, 2014.
No. 148
APPOINTMENT OF ACTING SUPERINTENDENT OF PUBLIC HEALTH
The Permanent Secretary in the Ministry for Health has approved the following acting appointments:-
NAMEPOSTDIVISIONDATE
Dr Charmaine GauciSuperintendent ofHealth4 - 6.3.2014
Public Health
Dr Miriam AzzopardiSuperintendent ofHealth17 - 23.3.2014
Public Health
No. 149
GOLDSMITHS AND SILVERSMITHS
CAP. 46
ACT
THE Commissioner of Inland Revenue notifies that on the date shown hereunder, the price of gold and silver on which valuations made by the Consuls for Goldsmiths and Silversmiths are based has been fixed for the purposes of article 14 of the said Act as follows:–
DatePure GoldPure Silver
GramsGrams
14. 02. 2014€30.750€0.505
No. 150
MINISTRY FOR TRANSPORT AND INFRASTRUCTURE
Government Grant on the Purchase of Electric Vehicles
The Government in conjunction with Transport Malta will be launching a grant scheme to incentivise the purchase of electric cars and electric quadricycles whilst at the same time reducing the number of old motor vehicles from the road.
Subject to various conditions, the grant will amount to:
a) €4,000 to persons registering an electric car;
b) €5,000 to persons registering an electric car and de-registering another car which is at least 10 years old from year of manufacture;
c) €1,500 to persons registering an electric quadricycle.
The scheme comes into effect on the 1st January, 2014 and is on a first come first serve basis.
THE SCHEME
1. Interpretation
For the purpose of the scheme, unless the context otherwise requires:
‘applicant’ means the person applying for the grant under this scheme and who, apart from being a person residing in Malta, is the purchaser of an electric car or of an electric quadricycle as defined hereunder;
‘application’ means the application made for a grant under this scheme;
‘Authority’ means the Authority for Transport in Malta set up under the provisions of the Authority for Transport in Malta Act (Cap. 499);
‘seller’ means an agent or dealer as defined under this scheme;
‘certificate of conformity’ means the document set out in Annex IX of Directive 2007/46/EC, issued by the manufacturer and certifying that a vehicle belonging to the series of the type approved in accordance with that Directive complies with all regulatory acts at the time of its production;
‘vehicle registration certificate’ means the vehicle registration certificate issued by the Authority providing proof of registration of the motor vehicle;
‘authorised treatment facility’ has the same meaning as assigned to it in the Registration and Licensing of Motor Vehicles Regulations (SL368.02);
‘de-registered car’ means a car which has been de-registered;
‘electric car’ means an M1 category electric vehicle used for the carriage of persons and which may carry no more than eight passengers in addition to the driver or a range extender electric vehicle having a range extender engine which recharges the battery to prolong the autonomy of the engine. The range extender engine will only be engaged when the battery level drops at a specific point, thus acting as a generator to produce electricity, thus extending the normal range of the electric vehicle provided that for the purpose of the grant, the REEV can have a guaranteed autonomy on a battery of a minimum of 130km on pure electric charge before the range extender is automatically engaged as a back-up after the battery runs out. The vehicle shall have a length that does not exceed 4460mm as certified on the certificate of conformity, and is licensed for private use only;
‘grant’ means the grant being given under this scheme to the purchaser of a motor vehicle which satisfies the requirements of paragraph 4 (ii);
‘electric quadricycle’ means an L7e category vehicle as defined in Article 1 of Directive 2002/24/EC relating to the type-approval of two or three-wheel motor vehicles, as amended;
‘Malta’ means the islands of Malta;
‘Minister’ means the Minister responsible for transport;
‘dealer’ or ‘agent’ means a person or entity authorised to import, sell or buy motor vehicles;
‘person’ means a natural person;
‘person residing in Malta’ means a natural person who either holds a legally valid identification document issued in terms of the Identity Card and other Identity Documents Act (Cap. 258) or who has a residence permit or a letter issued from the expatriate office at the Ministry of Foreign Affairs;
‘registered owner’ means the person or undertaking in whose name a motor vehicle is registered by the Authority;
‘Member State’ means a Member State of the European Union;
‘registration tax’ means the registration tax charged and levied in terms of the Motor Vehicles Registration and Licensing Act under the laws of Malta (Cap. 368);
‘de-registered’ means, for the purpose of this scheme, the permanent removal of a motor vehicle from its registration with Transport Malta and thereafter, that motor vehicle shall never be registered again to be used on the road in Malta;
‘European Union’ has the same meaning as is assigned to it by article 2 of the European Union Act (Cap. 460), and includes Norway, Iceland and Liechtenstein;
‘private use’ means any use other than for hire or reward;
‘M1 vehicle’ means, for the purposes of this scheme, a motor vehicle used for the carriage of persons and which may carryno more than eight passengers in addition to the driver;
‘used motor vehicle’ means a motor vehicle that has been registered;
‘purchaser’ means the person buying the vehicle from another country or from the local agent or dealer, having that vehicle registered in his name and being the applicant for the grant under this scheme;
2. Area of applicability
2.1 The scheme for a grant for the purchase of an electric car or electric quadricycle applies to any person residing in Malta and if that person is applying for the €5,000 grant, that person shall be the registered owner ofan M1 vehicle which is at least 10 years old from year of manufacture, provided that such vehicle shall continue to be so registered, garaged or licensed until the date of application for the grant, and is de-registered at the time of the registration of the electric vehicle;
2.2. The scheme consists of a grant of:
a) €4,000 to persons registering an electric car;
b) €5,000 to persons registering an electric car and de-registering another motor vehicle which is at least 10 years old from year of manufacture;
c) €1,500 to persons registering an electric quadricycle.
Every eligible person shall be entitled to only one grant under this scheme.
3. Manner of application and supporting documents.
(i)An application for a grant under this scheme shall be made either by the agent/dealer or by the purchaser following the issue of an invoice by the agent/dealer to the purchaser, in the form set out in the schedule to this scheme and shall contain all the information, details and documents as required in the said form and in terms of this scheme.
(ii) Applications shall be accompanied by the following documents:
(a) copy of a legally valid identification document of the applicant or a residence permit or letter issued by the expatriate office;
(b) a copy of the Certificate of Conformity, detailing the chassis number and length of the vehicle in the case of new cars and new quadricycles only;
(c) the original registration certificate and the original valuation printout issued from the Authority’s Technical Unit in the case of used cars and quadricycles;
(d) a destruction certificate issued by the approved destruction facilitycertifying that the vehicle which is being scrapped has been destructedin the approved destruction facility (applicable if another vehicle is being scrapped).
(iii) Applications under this scheme, together with all the relevant documents, shall be submitted/sent by the agent or dealer on behalf of the applicant to the Driver and Vehicle Licensing Unit, Hornworks Ditch, Floriana, Hall C, between 7.30 a.m. and noon during working days, together with all other relevant documents required for the registration of the vehicle.
4. Eligibility
(i) To be eligible, an applicant shall conform to sub-section 2.1 or 2.2 ofSection 2.
(ii) To qualify, the electric car (M1 vehicle) shall:
(a) be either new or used and having not more than 12 months from date of first registration and not more than 10,000 km on the odometer;
(b) not have been registered before the 1st January, 2014;
(c) be licensed for private use;
(d) have a length that does not exceed 4,460mm as certified on the Certificate of Conformity in the case of new cars; or
(e) have a length that does not exceed 4,460mm as certified on the original valuation printout issued from the Authority’s Technical Unit in the case of used cars.
(iii) To qualify, the electric quadricycle shall:
a) be either new or used and have not more than 12 months from date of first registration and not more than 10,000km on the odometer;
b) not have been registered before the 1st January, 2014;
c) be licensed for private use.
(iii) To qualify for the €5,000 grant, the motor vehicle to be de-registered shall:
(a) be at least ten (10) years old on the date of application, the age of the vehicle being determined as the calendar year as on the date of application less the year of manufacture as certified on the vehicle registration certificate;
(b) have been registered, garaged or licensed with the Authority in the name of the applicant on the date of application, as shown on the vehicle’s registration certificate or as confirmed by the Authority;
(c) be de-registered prior to the registration of the new vehicle;
(d) once de-registered, the motor vehicle shall be destroyed in accordance with the provisions of Part VIII of the Registration and Licensing of Motor Vehicles Regulations (SL368.02).
5. Payment of Grant
Where an applicant qualifies for the grant, the grant shall be deducted by Transport Malta from the total amount of registration tax due on that particular vehicle being registered in the name of the purchaser. The registration tax will then be topped up with the equivalent amount by means of a transfer. The grant would still be payable when the customer enjoys an exemption from registration tax and, in such a case, separate financial arrangements are made.
The grant given to the purchaser shall not be assessed as income for income tax purposes.
6. Validity of application
An application shall not be deemed to have been submitted by the applicant unless it is completed in full and is accompanied by all the relevant documents. If the application is not completed correctly and the relevant documents are not included, the claim for the grant shall not be processed unless the missing information is provided. The Authority shall write to the agent/dealer or applicant and advising him of the information required.
7. Refund of grant if the vehicle is transferred
The new motor vehicle purchased by the applicant for the grant shall remain registered in his name for a period of at least thirty-six (36) months from the date of first registration. If the registered owner of a new motor vehicle on which a grant has been provided under this scheme transfers the said vehicle, for any reason other than a transfer causa mortis to a heir, to a third party before the expiry of the thirty-six month period, then that person shall refund the grant received to the Authority.
8. Duration of scheme
This scheme shall remain into force for a maximum period of twenty four months beginning on the 1st January, 2014 unless modified or terminated beforehand by a Notice in the Government Gazette. The scheme shall be automatically terminated when the total amount of the grants reach the amount of €300,000. Notwithstanding, Government may terminate the scheme at any time by giving prior notice.
The scheme may be renewed as deemed necessary by the Minister by a Notice in the Government Gazette.
9. Amendments to the scheme
The Minister responsible for transport shall have the right to make any amendments to this scheme by a Notice in the Government Gazette.
10. Fraudulent claims
Where a fraudulent claim arises, the Minister responsible for transport may institute criminal proceedings against those responsible. In the event of an incorrect payment of a claim, the Ministry responsible for transport reserves the right to recover funds paid in error.
No. 151
PROSPECTUS
Issue of An Aggregate of Euro 100,000,000 Malta Government Stocks Subject to an Over-Allotment Option of Euro 60,000,000 in the Event of Over-Subscription
Authorised under the Local Loans (Registered Stock and Securities) Ordinance, Cap. 161
1. ISSUANCE OF STOCK
The Accountant General is offering an aggregate Euro 100,000,000 of Malta Government Stocks which are being offered and made available in any one or any combination of the following Stocks:
(i) 3.2% Malta Government Stock 2019 (V) Fungibility Issue, and
(ii) 3.3% Malta Government Stock 2024 (I), and
(iii) 4.45% Malta Government Stock 2032 (II).
2. APPLICATIONS
a) Applications open at 8.30 a.m. on Monday 24th February, 2014 and close on the time and dates as hereunder, or earlier at the discretion of the Accountant General:
(i) at 5.00 p.m. on Wednesday 26th February, 2014 for applications by any single and/or joint applicants which in the aggregate do not exceed €100,000 per person, and
(ii) at noon on Monday3rd March, 2014 for applications in the form of sealed bids (auction) under paragraphs 2(e) and 2(f).
b) All applications are to be made in multiples of €100 on the prescribed form.
c) Application forms may be downloaded from Treasury’s website: (www.treasury.gov.mt) or obtained from, and lodged at, all Members of the Malta Stock Exchange and other authorised Investment Service Providers.
d) Applications by any single and/or joint applicants, which in the aggregate must not exceed €100,000 per person in any or each of the three Stocks, shall be at a price to be established for each Stock. Such Offer Price for each Stock will be announced to the Malta Stock Exchange and published in daily local newspapers three (3) days prior to opening of the applications. Applicants under this category are precluded from bidding also under paragraphs (e) and (f) below.
e) Applications by any single applicant, which in the aggregate are over €100,000, but do not exceed €500,000 in any or each of the three Stocks, shall be in the form of sealed bids for a minimum of €100,100 each. Applicants under this category are precluded from applying also under paragraphs (d) and (f).
f) Applications by any single applicant, which in the aggregate exceed €500,000 in any or each of the three Stocks, shall be in the form of sealed bids for a minimum and multiples of €500,000 each. Applicants under this category are precluded from applying also under paragraphs (d) and (e).
g) Bids on the prescribed forms are to be deposited at the Treasury Tender Box, Floriana or transmitted by fax on 2596 7210 or by e-mail at the e-mail addresses indicated on the application forms.
h) Applications by minors will only be accepted if signed by a legal guardian.
i) Applications in the name of ‘Nominee a/c’ and/or ‘Clients a/c’ will only be accepted if accompanied by a list showing the identity card number, or in case of a body corporate, the relevant identification number of their respective clients.The amount applied for by any single person, and/or two or more persons as joint applicants, listed under the ‘Nominee a/c’ and/or ‘Clients a/c’must not exceed €100,000 per person in any or each of the three Stocks.
j) All applications will be irrevocable after closing time.
3. CLEARING FACILITIES
a) MaltaClear
Clearing and settlement of transactions in Malta Government Stocks traded on the Malta Stock Exchange Trading System are effected through MaltaClear in accordance with Chapter 7 of the Malta Stock Exchange Bye-Laws.
b) Clearing (FOP) through Clearstream – MSE Access Link
(i) Applicants under paragraphs 2 (e) and (f) above, may also avail of free-of-payment (FOP) clearing facility provided through the Malta Stock Exchange plc (MSE) – Clearstream Banking AG – Frankfurt (CBF) Access Link as direct customers of CBF or Clearstream Banking SA, Luxembourg (CBL), or indirectly by being capable of clearing through CBF/CBL via another central securities depository or international central securities depository (‘other CS/ICSD’) linked to CBF/CBL.
(ii) It is the settled subscriber’s responsibility to ensure that a relevant Receive Free message for free receipt of the subscribed Stocks is raised in due time in the appropriate format of the Society of Worldwide Interbank Financial Telecommunication (SWIFT). Where for any reason, the FOP delivery over the MSE-CBF Link of the allotted Malta Government Stocks fails or remains outstanding for a period of time set at the MSE’s discretion, the same Stocks may be transferred off-market, in favour of a securities account opened in the name of the settled subscriber, without charge at the MSE’s Central Securities Depository (hereinafter the CSD), until the CSD receives further authenticated instructions. The supplied International Bank Account Number (IBAN) will be availed for the payment of any interests or other payments that may subsequently become due to the settled subscriber during such time that the Stocks remain credited in the said CSD account, on the relevant record date.
4. ALLOTMENT POLICY OF STOCK
Allocation of Stock will be made in the following order:
a) applications by auction will be considered after applications at the Offer Price per €100 nominal are exhausted.
b) In the event that the original sum on issue is over-subscribed, the Treasury reserves the right to:
(i) exercise the over-allotment option at paragraph (5) by issuing further stocks; and
(ii) first allocate and satisfy the applications to applicants falling under paragraph (2) (d).
c) In case that notwithstanding the exercise of the over-allotment option there still remains applications which are unsatisfied, then the Treasury will scale down applications as deemed appropriate.
d) Bids at the last rate accepted for each Stock by more than one applicant will be allotted in proportion to the amount of the bids for each respective Stock. The allotment results of each Stock to applicants whose applications are in the form of sealed bids (auction) will be determined and announced within two hours immediately after the closing time of applications by auction.
e) Any amount allotted to the Government Funds will be at the cut-off rate.
5. OVER-ALLOTMENT OPTION
The Accountant General reserves the right to exercise an over-allotment option for an additional amount of € 60,000,000.
Refunds of applications, which are not wholly allotted, will be effected before the issue of the relevant Registration Advices.Such refunds will be paid by direct credit through SEPA (Single Euro Payments Area) in the IBAN (International Bank Account Number) account indicated in the respective application form for the payment of dividend (interest).
6. UNDERISSUANCE
The Accountant General reserves the right to accept bids for the full amount or any part thereof and to reject any bid or part thereof on any grounds whatsoever, notwithstanding that the aggregate amount on issue has not been taken up.
7. PAYMENT OF DIVIDENDS (INTEREST)
Dividend (interest) is payable half yearly in arrears on the:
a) (i) 31st day of January and the 31st day of July during the tenor of the 3.2% Malta Government Stock 2019 (V);
(ii) 12th day of May and the 12th day of November during the tenor of the 3.3% Malta Government Stock 2024 (I) and
(iii) 3rd day of March and the 3rd day of September during the tenor of the 4.45% Malta Government Stock 2032 (II).
b) (i) In the case of accepted applications submitted by members of the public under paragraph 2 (d) in respect of the 3.2% Malta Government Stock 2019 (V) F.I., the first pro rata dividend (interest) payment covering the period from the 3rd March, 2014 (the issue date) to the 30th July, 2014 (both dates inclusive) will be made at the rate of 1.325967 per cent on the 31st July, 2014;
(ii) in the case of accepted bids/applications submitted by institutional investors under paragraphs 2 (e) and (f) in respect of the 3.2% Malta Government Stock 2019 (V) F.I., the first pro rata dividend (interest) payment covering the period from the 6th March, 2014 (the issue date) to the 30th July, 2014 (both dates inclusive) will be made at the rate of 1.299448 per cent on the 31st July, 2014;
(iii) in the case of accepted applications submitted by members of the public under paragraph 2 (d) in respect of the 3.3% Malta Government Stock 2024 (I), the first pro rata dividend (interest) payment covering the period from the 3rd March, 2014 (the issue date) to the 11th May, 2014 (both dates inclusive) will be made at the rate of 0.638122 per cent on the 12th May, 2014;
(iv) in the case of accepted bids/applications submitted by institutional investors under paragraphs 2 (e) and (f) in respect of the 3.3% Malta Government Stock 2024 (I), the first pro rata dividend (interest) payment covering the period from the 6th March, 2014 (the issue date) to the 11th May, 2014 (both dates inclusive) will be made at the rate of 0.610773 per cent on the 12th May, 2014;
(v) in the case of accepted applications submitted by members of the public under paragraph 2 (d) in respect of the 4.45% Malta Government Stock 2032 (II), the first dividend (interest) payment covering the period from the 3rd March,2014 (the issue date) to the 2nd September, 2014 (both dates inclusive) will be made at the rate of 2.225000 per cent on the 3rd September, 2014;
(vi) in the case of accepted bids/applications submitted by institutional investors under paragraphs 2 (e) and (f) in respect of the 4.45% Malta Government Stock 2032 (II), the first pro rata dividend (interest) payment covering the period from the 6th March, 2014 (the issue date) to the 2nd September, 2014 (both dates inclusive) will be made at the rate of 2.188723 per cent on the 3rd September, 2014.
c) (i)Payment of dividend (interest) of each Stock will be made by direct credit through theSEPA (Single Euro Payments Area) system in the IBAN (International Bank Account Number) account as advised on the application form.
(ii) If the interest date falls on a day other than a business day, interest payment will be made on the immediately following business day. A “business day” means a day other than a Saturday,a national or public holiday listed in sections 2 and 5 (1) of the National Holidays and other Public Holidays Act (Cap.252 of the Laws of Malta), a bank holiday as declared under section 3(2)(b) of the Banking Act (Cap.371 of the Laws of Malta) or a day when the Trans-EuropeanAutomated Real-time Gross settlement Express Transfer system (TARGET), owned and operated by the Eurosystem, is closed for business as may be published on European Central Bank’s website (www.ecb.europa.eu).
8. FUNGIBILITY
The Accountant General reserves the right to issue, in future, additional amounts of each of the present Stock in further tranches. In the event of such further issues these will be integrated with the respective existing Stock.
9. REDEMPTION OF STOCK
(i) The 3.2% Malta Government Stock 2019 (V) shall be redeemed at par on the 31st July, 2019.
(ii) The 3.3% Malta Government Stock 2024 (I) shall be redeemed at par on the 12th November, 2024.
(iii) The 4.45% Malta Government Stock 2032 (II) shall be redeemed at par on the 3rd September, 2032.
10. SECURITY
The Stock and dividend (interest) thereon will be a charge on the General Revenue and Assets of the Government of Malta.
11.TRADING ON THE MALTA STOCK EXCHANGE
a)Pursuant to the Financial Markets Act, Cap. 345, an application has been submitted to the Listing Authority for the bonds to be admissible to listing and to the Malta Stock Exchange for the bonds to be admitted to its Official List.
b) On the 31st July, 2014, after the payment of the first dividend (interest) as indicated in paragraphs 7 (b) (i) and 7 (b) (ii), any amount allotted under the 3.2% Malta Government Stock 2019 (V) F.I. shall be integrated with the existing issue of this Stock and thereafter shall be deemed to be one Stock.
c) On the 12th May, 2014, after the payment of the first dividend (interest) as indicated in paragraphs 7 (b) (iii) and 7 (b) (iv), any amount allotted under the 3.3% Malta Government Stock 2024 (I) shall be integrated and thereafter both shall be deemed to be one Stock.
d) On the 3rd September, 2014, after the payment of the first dividend (interest) as indicated in paragraphs 7 (b) (v) and 7 (b) (vi), any amount allotted under the 4.45% Malta Government Stock 2032 (II) shall be integrated and thereafter both shall be deemed to be one Stock.
12. COLLECTIVE ACTION CLAUSES (CACs)
(a) Pursuant to the decision of the European Council of 24-25th March 2011, and in accordance with Paragraph 3 of Article 12 of the European Stability Mechanism (ESM) Treaty, the model Collective Action Clauses (CAC) became mandatory in all new euro area government securities with maturity above one year issued on or after 1st January 2013.
(i) Pursuant to the provisions contained in the CACs, the Accountant General may, at any time, convene a meeting of stockholders to consider and approve any modifications of the borrowing terms and conditions of the Stock on issue.
(ii) The modifications that may be carried out are of two types: (1) A ‘reserved matter’ modification, involving the modification of the most important terms and conditions of this Stock, such as a reduction in the principal or interest payable on this Stock, or changes in the dates when interest is payable or Stock is redeemable, or change the definition of a ‘reserved matter’; and (2) A ‘non-reserved matter’ modification, involving the modification of less important terms and conditions other than a reserved matter.
(iii) Under the CAC, a modification may be proposed in relation to either a single stock, a so-called single-series modification, or to more than one stock at the same time, a so-called cross series modification.
(iv) Modification of stock in relation to a ‘reserved matter’ shall require the affirmative vote of stockholders of not less than 75% of the aggregate principal amount of the outstanding stock represented at a meeting duly convened, or not less than 66 2/3% of the aggregate principal amount of the outstanding stock in the case of written resolution.
(v) In relation to a ‘non-reserved matter’ modification, the affirmative vote of stockholders of more than 50% of the aggregate principal amount of the outstanding stock represented at a meeting duly convened, or of more than 50% of the aggregate principal amount of the outstanding stock in the case of written resolution, is required.
(vi) In all events, a proposed modification shall require the consent of the Accountant General and, if approved, shall be binding for all stockholders.
(b) Notice of Meetings of Stockholders shall be published by the Accountant General at least 21 days prior to the date of the meeting or, in the case of an adjourned meeting, at least 14 days prior to the date of the adjourned meeting. The notice shall, amongst other matters, (i) specify the date, time and location of the meeting; (ii) set out the agenda and quorum for, and the text of any resolutions proposed to be adopted; and (iii) set out any additional rules adopted by the Accountant General and, if applicable, the conditions under which a cross-series modification will be deemed to have been satisfied if it is approved as to some but not all the affected series of debt securities.
(c) The Chair of any meeting of stockholders will be appointed by the Accountant General; or if such person nominated is not present at the meeting, by the holders of more than 50% of the aggregate principal amount of the Stocks then outstanding represented at the meeting.
(d) The Accountant General shall publish, without undue delay, all notices and other matters required to be published pursuant to Stockholders Meetings and Written Resolutions:
(i) on the Treasury’s website: (www.treasury.gov.mt);
(ii) through the Malta Stock Exchange;
(iii) Malta Government Gazette.
(e) The Collective Action Clauses (CACs), as agreed upon by the Member States of the European Union at its summit held on 24-25 March 2011, and in accordance with Paragraph 3 of Article 12 of the European Stability Mechanism (ESM) Treaty, can be found on the Treasury website www.treasury.gov.mt under the section reserved for the Debt Management Directorate.
Note: The above paragraph on the Collective Action Clauses (CACs) contains summarized information taken from the Model Collective Action Clauses (CAC). All potential applicants are solicited to access the detailed CACs which can be found on the Treasury website, and any decision to invest in the Stock/s should be based on consideration of the Prospectus as a whole.
13. RELEVANT LEGISLATION
The Local Loans (Registered Stock and Securities) Ordinance, Cap. 161, and Directive by the Minister for Finance under articles 4 (1) (a) and 6 (1) of the said Ordinance, the Local Loans (Registered Stock) Regulations, 1959.
Note: The value of the investment may go up and/or down during the tenor of the Stock.
No. 152
CONDOMINIUM ACT
Cap. 398
Notice is hereby given that I have received an application for the registration of and/or amendment to rules regulating the following condominia:-
Condominium NumberAddress of CondominiumRemarksDate of Registration
948The Muses ResidencesRegistration of14/11/2013
Brio CourtRules
Triq iċ-Ċimiterju
k/ma’ Triq ta’ Lanza
Ħaż-Żabbar
964“Melea”Registration of23/12/2013
Triq l-Għoljiet,Rules
Mellieħa
971West Ridge ViewRegistration of09/01/2014
Garage ComplexRules
Triq in-Namura
Baħrija, l/o Rabat
Malta
977123, Gidwed Lane CourtRegistration of17/01/2014
Triq ta’ GidwedRules
Wied il-Għajn
979SeaBreeze ApartmentsRegistration of06/12/2013
Triq il-MadonnaRules
ta’Sacro Cuor
Tas-Sliema
985110 Leone CourtRegistration of27/01/2014
Triq il-Qalb ImqaddsaRules
San Ġiljan
Audrey Vassallo LL.D.
Land Registrar