Government Notices published in Govt. Gazette No. 19,478 of 25 September 2015

IT is notified for general information that, acting onthe advice of the Prime Minister, the President of Malta has directed that theHon. George Vella, MD, Cert. GAM (UK), MP, Minister for Foreign Affairs,assumes the additional duties of the Prime Minister, on Wednesday, 23rdSeptember, 2015, during the absence from Malta of the Hon. Joseph Muscat, KUOM,B Com, BA (Hons), MA (European Studies), PhD (Bristol), MP. 

 IT is notified for general information thatthe Hon. Joseph Muscat, KUOM, BCom, BA (Hons.), MA (European Studies), PhD(Bristol), MP, resumed duties as Prime Minister on Thursday, 24th September,2015, and that the arrangements made by Government Notice No. 926 of the 23rdSeptember, 2015, ceased to have effect accordingly.

Delegationof Certain Powers Respecting the Public Service

BYthe Honourable Dr Joseph Muscat, KUOM, BCom, BA (Hons.), MA (European Studies),PhD (Bristol), MP, Prime Minister.

WHEREASarticle 110 of the Constitution of Malta provides that power to makeappointments to public offices and to removepersons holding or acting in any such offices shall vest in the PrimeMinister, acting on the recommendation of the Public Service Commission;

ANDWHEREAS it is further provided in the same article that the Prime Minister,acting on the recommendation of the Public Service Commission, may delegate inwriting any of the aforementioned powers to such public officer or otherauthority as may be specified in the Instrument of Delegation;

ANDWHEREAS by Instrument of Delegation dated 25th January, 1966, the PrimeMinister, acting on the recommendation of the Public Service Commission,delegated certain powers in respect of the Malta Police Force to theCommissioner of Police;

AND WHEREAS by Instrument dated 20th February, 1970, thePrime Minister, acting on the recommendation of the Public Service Commission,delegated to the then Administrative Secretary certain powers respectingappointments in the Public Service on the basis of the results of publicexaminations conducted by the Board of Local Examinations;

ANDWHEREAS by Instruments dated 6th October, 1999, and 11th January, 2005, thePrime Minister, acting on the recommendation of the Public Service Commission,delegated to Permanent Secretaries the power to make engagements on definitecontract of Casual Substitutes and to renew their engagement, subject tocertain conditions;

ANDWHEREAS by Instrument dated 18th January, 2000, the Prime Minister, acting onthe recommendation of the Public Service Commission, delegated to the thenPermanent Secretary at the Office of the Prime Minister the power to makeappointments to posts in Salary Scale 20 in the Public Service, provided thatsuch appointments are made in accordance with paragraph (c) of sub-article (2)of article 110 of the Constitution;

ANDWHEREAS by Instrument dated 4th April, 2009, the Prime Minister, acting on therecommendation of the Public Service Commission, delegated to PermanentSecretaries the power to engage/re-engage retired persons/ retired officers upto the age of 65 years on definite contract for not more than 42 months, inareas of acute shortage as decided upon by the Principal Permanent Secretary;

ANDWHEREAS by Instrument dated 26th June, 2012, the Prime Minister, acting on therecommendation of the Public Service Commission, delegated to the PermanentSecretary charged with the Ministry responsible for Education the power to makeengagements of ‘Adult Educators’, and to renew their engagement;

ANDWHEREAS by Instrument dated 26th June, 2012, the Prime Minister, acting on therecommendation of the Public Service Commission, delegated to the PermanentSecretary charged with the Ministry responsible for Education the power to makeengagements of ‘On call Supply Learning Support Assistants’ and ‘On call SupplyKindergarten Assistants’, and to renew their engagement;

ANDWHEREAS by Instrument dated 3rd May, 2013, the Prime Minister, acting on therecommendation of the Public Service Commission, delegated to PermanentSecretaries the power to recruit disabled persons in the Public Service inSalary Scales 16 – 20 (both scales included) directly from the register ofdisabled unemployed kept by the Employment and Training Corporation (ETC),following a selection process carried out by the recruiting department amongstpotential candidates referred to the department by the ETC on the grounds that,in the ETC’s judgement, they could be considered suitable to perform theduties, in essence, of the office to be filled, notwithstanding that suchcandidates would not necessarily be in possession of the eligibility requisitesnormally required for that office, and provided that the ability of suchcandidates to perform the duties, in essence, of that office, was proventhrough an entry examination or test of competence;

AND WHEREAS by Instrument dated 28th May, 2013, to besuperseded by a fresh Instrument with modified parameters, the Prime Minister,acting on the recommendation of the Public Service Commission, delegated to theCommission the power to make and to postpone appointments to public officesbelow senior management level, and power to withhold the progression of publicofficers in the same salary scales from one scale to the next within the samegrade;

ANDWHEREAS the Public Service Commission has recommended that, as from 1stFebruary, 2016:

1.the delegation of powers made by the Instrument dated 20th February, 1970, theInstruments dated 6th October, 1999 and 11th January, 2005, the Instrumentdated 18th January, 2000, the Instrument dated 4th April, 2009, the Instrumentdated 26th June, 2012 in respect of the engagement of ‘Adult Educators’, theInstrument dated 26th June, 2012 in respect of the engagement of ‘On CallSupply Learning Support Assistants’ and ‘On Call Supply KindergartenAssistants’, and the Instrument dated 3rd May, 2013 should be revoked;

2.the Instrument of Delegation superseding that of the 28th May, 2013 shouldapply concurrently with this Instrument and may be exercised by the Commissionin situations where the current Instrument cannot, for any reason, be applied;

3.the Instrument of Delegation dated 25th January, 1966 should be saved andshould remain in force;

4.the power to make appointments to public offices under article 110 of theConstitution, other than headship positions, should be delegated to PermanentSecretaries, provided that such appointments are made following a competitiveselection process and on the basis of a valid order of merit;

5.the power to postpone appointments to which paragraph 4 refers should also bedelegated to Permanent Secretaries;

6.the power to extend fixed-term appointments or renew such appointments forsubsequent terms should be delegated to Permanent Secretaries, provided thatany appointments so extended or renewed were initially made on the basis of acompetitive selection process;

7.for the purpose of this Instrument of Delegation, a competitive selectionprocess may take place either following a call for applications or from amongcandidates referred by the Employment and Training Corporation, subject to sucheligibility requirements as may apply, and according to any applicable generaland special directives issued as specified in paragraph 10;

8.the power to fill a position by lateral appointment without the need for acompetitive selection process, as provided for in article 25 of the PublicAdministration Act (Cap. 497), should be delegated to Permanent Secretaries;

9for the purpose of this Instrument of Delegation, “Permanent Secretaries”includes the Principal Permanent Secretary;

10.the powers delegated by this Instrument should be exercised subject to theprovisions of the PSC Appointments Regulations, any provisions of any other lawthat may apply, and any directives and guidelines issued by the Commission orby the Principal Permanent Secretary with the approval of the Commission;

11.the powers delegated by this Instrument may otherwise be exercised withoutreference to the Commission; and

12.the above mentioned delegation of powers should be subject to the proviso thatthe Commission reserves the right to make, at any time, a recommendation to thePrime Minister that this Instrument of Delegation be withdrawn or amended andthat, upon such a recommendation being made and until the Prime Minister actsupon such a recommendation, the powers delegated by this Instrument shall besuspended;

ANDWHEREAS I agree with the said recommendations:

NOW, THEREFORE, I, JOSEPH MUSCAT, KUOM, BCOM, BA (HONS.),MA (EUROPEAN STUDIES), PhD (BRISTOL), MP, Prime Minister, in exercise of thepowers conferred by article 110 of the Constitution, do hereby direct that asfrom 1st February, 2016 the powers set out in paragraphs 1 to 12 herein bedelegated to Permanent Secretaries in accordance with and subject to theforegoing provisions of this Instrument, as recommended by the Commission.

THISINSTRUMENT of delegation shall be in addition and without prejudice to otherInstruments of Delegation which have been issued in terms of article 110 of theConstitution, except as provided in paragraph 1 hereof.

GIVENunder my hand at the

Aubergede Castille, Valletta

this16th day of September, 2015

Delegationof Certain Powers Respecting the Public Service

BYthe Honourable Dr Joseph Muscat, KUOM,
BCom, BA (Hons.), MA (European Studies), PhD (Bristol), MP, Prime Minister.

WHEREASarticle 110 of the Constitution of Malta provides that power to makeappointments to public offices and to removepersons holding or acting in any such offices shall vest in the PrimeMinister, acting on the recommendation of the Public Service Commission;

ANDWHEREAS it is further provided in the same article that the Prime Minister,acting on the recommendation of the Public Service Commission, may delegate inwriting any of the aforementioned powers to such public officer or otherauthority as may be specified in the Instrument of Delegation;

ANDWHEREAS by Instrument of Delegation dated 25th January, 1966, the PrimeMinister, acting on the recommendation of the Public Service Commission,delegated certain powers in respect of the Malta Police Force to theCommissioner of Police;

AND WHEREAS by Instrument dated 20th February, 1970, thePrime Minister, acting on the recommendation of the Public Service Commission,delegated to the then Administrative Secretary certain powers respectingappointments in the Public Service on the basis of the results of publicexaminations conducted by the Board of Local Examinations;

ANDWHEREAS by Instruments dated 6th October, 1999, and 11th January, 2005, thePrime Minister, acting on the recommendation of the Public Service Commission,delegated to Permanent Secretaries the power to make engagements on definitecontract of Casual Substitutes and to renew their engagement, subject tocertain conditions;

ANDWHEREAS by Instrument dated 18th January, 2000, the Prime Minister, acting onthe recommendation of the Public Service Commission, delegated to the thenPermanent Secretary at the Office of the Prime Minister the power to makeappointments to posts in Salary Scale 20 in the Public Service, provided thatsuch appointments are made in accordance with paragraph (c) of sub-article (2)of article 110 of the Constitution;

ANDWHEREAS by Instrument dated 4th April, 2009, the Prime Minister, acting on therecommendation of the Public Service Commission, delegated to PermanentSecretaries the power to engage/re-engage retired persons/retired officers upto the age of 65 years on definite contract for not more than 42 months, inareas of acute shortage as decided upon by the Principal Permanent Secretary;

ANDWHEREAS by Instrument dated 26th June, 2012, the Prime Minister, acting on therecommendation of the Public Service Commission, delegated to the PermanentSecretary charged with the Ministry responsible for Education the power to makeengagements of ‘Adult Educators’, and to renew their engagement;

ANDWHEREAS by Instrument dated 26th June, 2012, the Prime Minister, acting on therecommendation of the Public Service Commission, delegated to the PermanentSecretary charged with the Ministry responsible for Education the power to makeengagements of ‘On call Supply Learning Support Assistants’ and ‘On call SupplyKindergarten Assistants’, and to renew their engagement;

AND WHEREAS by Instrument dated 3rd May, 2013, the PrimeMinister, acting on the recommendation of the Public Service Commission,delegated to Permanent Secretaries the power to recruit disabled persons in thePublic Service in Salary Scales 16 – 20 (both scales included) directly fromthe register of disabled unemployed kept by the Employment and TrainingCorporation (ETC), following a selection process carried out by the recruitingdepartment amongst potential candidates referred to the department by the ETCon the grounds that, in the ETC’s judgement, they may be considered suitable toperform the duties, in essence, of the office to be filled, notwithstandingthat such candidates may not necessarily be in possession of the eligibilityrequisites normally required for that office, and provided that the ability ofsuch candidates to perform the duties, in essence, of that office, is proventhrough an entry examination or test of competence;

ANDWHEREAS by Instrument dated 28th May, 2013, the Prime Minister, acting on therecommendation of the Public Service Commission, delegated to the Commissionthe power to make, to postpone and to revoke appointments to public offices inSalary Scales 6 to 20, both scales included, and power to withhold theprogression of public officers in the same salary scales from one scale to thenext within the same grade;

ANDWHEREAS the Public Service Commission has recommended that:

1.the Instrument of Delegation dated 28th May, 2013 should be revoked;

2.power to make appointments to public offices under article 110 of the Constitution,other than headship positions, be delegated to the Commission;

3.the appointments to which the preceding paragraph refers should include:

(i)appointments following a call for applications;

(ii)both indefinite appointments and appointments of a definite duration;

(iii)promotions following the attainment of a number of years of satisfactoryservice or the attainment of a particular qualification, where such promotionsare provided for in an agreement governing a particular career stream in thePublic Service, or in the call for applications under which the public officersin question have been appointed;

(iv)the renewal of definite appointments, where such renewal is warranted;

(v)changes in the employment status of public officers from one on a definitebasis to one on an indefinite basis, in accordance with the provisions of thelaw or of an agreement which is approved by the Public Service Commission;

(vi) the upgrading of the indefinite status of publicofficers following the attainment of a number of years’ satisfactory service orthe attainment of a particular qualification, when such upgrading is providedfor a priori in the call for applications under which the publicofficers in question have been appointed;

(vii)the assimilation of public officers from one grade to another grade in terms ofthe provisions of an agreement governing a particular career stream in thePublic Service;

(viii)        changesto the nomenclature or designation of public officers, where such nomenclatureor designation derives from an appointment under article 110 of theConstitution;

4.power to postpone appointments in the offices to which paragraph 2 refers, formore than twelve weeks from the effective date thereof, should be delegated tothe Commission; while power to delay appointments for a lesser period shouldcontinue to be exercisable by Heads of Department;

5.power to withhold the progression of public officers in the offices to whichparagraph 2 refers, to a higher salary scale within the same grade or position,where justified on account of poor performance, misconduct or other reasons,should be delegated to the Commission;

6.power to withhold salary increments of public officers in the offices to whichparagraph 2 refers, where justified on account of poor performance, misconductor other reasons, should be delegated to the Commission;

7.power to withhold promotion to a higher grade or position, on the basis of anumber of years’ satisfactory service, in the offices to which paragraph 2 refers,where justified on account of poor performance, misconduct or other reasons,should be delegated to the Commission;

8.the Commission should be empowered to exercise its powers under this Instrumentwithout the requirement to submit recommendations thereon as is permitted byarticle 110 (2) (b) of the Constitution;

9.the Commission shall exercise its powers under this Instrument subject to thefollowing conditions:

(i) subject to any arrangements made by the Commissionunder regulation 4 of the PSC Regulations, or any like provision of anyregulations which may supersede the said Regulations, the decision of theCommission to make or postpone an appointment or to withhold a public officer’sprogression, salary increment or promotion to a higher grade or position, asaforementioned, as recorded in the minutes of the Commission, shall constitutethe authority for the said action;

(ii)the said appointment, postponement, or withholding of progression, salaryincrement or promotion shall take effect as from the date on which it iscommunicated by the Executive Secretary, or an officer authorised to act on hisbehalf, to the Permanent Secretary of the relevant ministry, unless theCommission specifies a different date in its decision;

(iii)on being informed of the Commission’s decision to make or postpone anappointment or to withhold a public officer’s progression, salary increment orpromotion, the Permanent Secretary shall take action forthwith to effect thatdecision, unless he or the Principal Permanent Secretary submits a request forreconsideration in accordance with paragraph (iv) hereunder;

(iv)within one calendar month from the date on which he is informed of theCommission’s decision to make or postpone an appointment or to withhold a publicofficer’s progression, salary increment or promotion, the Permanent Secretaryof the relevant ministry, or the Principal Permanent Secretary, may request theCommission to reconsider its decision; and in such a case the Commission’sdecision shall not be effective unless it is confirmed by the Commission, andthe effective date shall be the date when the Permanent Secretary is informedthat the decision has been so confirmed, unless the decision as confirmedspecifies a different date;

(v)the Principal Permanent Secretary may act under the preceding paragraph withrespect to any action taken by the Commission under this Instrument ofDelegation, and he shall in addition assume the functions of PermanentSecretary under this Instrument with respect to appointments to general servicegrades and other offices which are filled through calls for applications issuedunder his authority; the postponement of such appointments; the withholding ofthe progression, salary increments or promotion after a number of years ofsatisfactory service of public officers in general service grades and otheroffices as aforesaid;

(vi)the Commission may at any time recommend to the Prime Minister that thisInstrument of Delegation be withdrawn, and this Instrument shall be suspendedupon such a recommendation being made, until the Prime Minister acts thereon;

(vii)         this Instrument shall also be suspendedif the Prime Minister so directs and if such decision is communicated to theCommission, whereupon the Commission shall consider whether or not to recommendthe withdrawal of this Instrument, but the Instrument shall remain suspendeduntil such time as it is withdrawn, subject to paragraph (viii) below;

(viii)the Instrument shall resume effect if the Commission retracts itsrecommendation for the withdrawal of the Instrument, or if the Prime Ministerrescinds his direction for its suspension, or both, as applicable;

ANDWHEREAS I agree with the said recommendation:

NOW,THEREFORE, I, JOSEPH MUSCAT, KUOM, BCOM, BA (HONS.), MA (EUROPEAN STUDIES), PhD(BRISTOL), MP, Prime Minister, in exercise of the powers conferred by article110 of the Constitution, do hereby direct that as from the date hereof, thepowers set out in paragraphs 1 to 9 herein, be delegated to the Public ServiceCommission in accordance with and subject to the foregoing provisions of thisInstrument, as recommended by the Commission.

THISINSTRUMENT of delegation shall be in addition and without prejudice to otherInstruments of Delegation which have been issued in terms of article 110 of theConstitution, except as provided in paragraph 1 hereof.

GIVENunder my hand at the

Aubergede Castille, Valletta

this 16th day of September, 2015

It is being notified for general information that inaccordance with the Commissioners for Justice Act (Cap. 291), the PrimeMinister has approved the appointment as Commissioner for Justice for a periodof two years with effect from the 1st July, 2015 of:

DrNoel Bartolo, and,

DrAnna Mallia.

THEPermanent Secretary in the Ministry for Home Affairs and National Security hasapproved the following acting appointment:

NAME                                                      POST                                       DEPARTMENT                        DATE

Is-SurAlbert Tabone                          Director                                 CivilProtection                   23.09-25.09.2015                                                                                                                                                                                   

IN exercise  of  the powers  conferred  by Article 22 of the Code of Police Laws (Cap. 10), the Minister or Gozohas directed that the streets specified in the first column of the subjoinedschedule be renamed as specified in the second column of the schedule.

L-GĦARB

Kanċellament

Dan l-isqaqgħandu jiġi kkanċellat

Triq tat-Trux,Sqaq Nru. 5, Ta’ Lavinja

IX-XLENDI,IL-MUNXAR

Isem Ġdid ta’Triq

Dik it-triq blaisem li minn Triq ir-Rabat, Ix-Xlendi, Il-Munxar,

twassal għall-mitħna sotterraneatissemma……………………………………………TRIQ IL-MITĦNA SOTTERRANEA

ISSUE OF ANAGGREGATE OF EURO 120,000,000 MALTA GOVERNMENT STOCKS

Subject to anOver-Allotment Option of Euro 60,000,000 in the event of over-subscription

Authorised underthe Budget Measures Implementation (2015) Act (Cap. 541) and the Local Loans(Registered Stock and Securities) Ordinance, (Cap. 161)

1.ISSUANCE OF STOCK

TheAccountant General is offering an aggregate Euro 120,000,000 of MaltaGovernment Stocks which are being offered and made available in any one or anycombination of the following Stocks:

(i)2% Malta Government Stock 2020 (V) Fungibility Issue, and

(ii)2.3% Malta Government Stock 2029 (II) Fungibility Issue.

2.APPLICATIONS

a)Applications open at 8.30 a.m. on Monday 5th October, 2015 and close on thetime and dates as hereunder, or earlier at the discretion of the AccountantGeneral:

(i)at 5.00 p.m. on Wednesday, 7th October, 2015 for applications by any singleand/or joint applicants which in the aggregate do not exceed €100,000 perperson, and

(ii)at noon on Monday, 12th October, 2015 for applications in the form of sealedbids (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 obtainedfrom, and lodged at, all Members of the Malta Stock Exchange and other authorisedInvestment 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 ofthe two Stocks, shall be at a price to be established for each Stock. Suchoffer price for each Stock will be announced to the Malta Stock Exchange andpublished in daily local newspapers three (3) days prior to opening of theapplications. Applicants under this category are precluded from bidding alsounder 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 two Stocks, shall be in theform of sealed bids for a minimum of €100,100 each. Applicants under thiscategory are precluded from applying also under paragraphs (d) and (f).

f)Applications by any single applicant, which in the aggregate exceed €500,000 inany or each of the two Stocks, shall be in the form of sealed bids for aminimum and multiples of €500,000 each. Applicants under this category areprecluded 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-mailaddresses 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 beaccepted if accompanied by a list showing the identity card number, or in caseof a body corporate, the relevant identification number of their respectiveclients. The amount applied for by any single person, and/or two or morepersons as joint applicants, listed under the ‘Nominee a/c’ and/or ‘Clientsa/c’must not exceed €100,000 per person in any or each of the two Stocks.

j)All applications will be irrevocable after closing time.

3.CLEARING FACILITIES

a)MaltaClear

Clearing and settlement of transactions in MaltaGovernment Stocks traded on the Malta Stock Exchange Trading System areeffected through MaltaClear in accordance with Chapter 7 of the Malta StockExchange 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 customersof CBF or Clearstream Banking SA, Luxembourg (CBL), or indirectly by beingcapable of clearing through CBF/CBL via another central securities depositoryor international central securities depository (‘other CS/ICSD’) linked toCBF/CBL.

(ii)It is the settled subscriber’s responsibility to ensure that a relevant ReceiveFree message for free receipt of the subscribed Stocks is raised in due time inthe appropriate format of the Society of Worldwide Interbank FinancialTelecommunication (SWIFT). Where for any reason, the FOP delivery over theMSE-CBF Link of the allotted Malta Government Stocks fails or remainsoutstanding for a period of time set at the MSE’s discretion, the same Stocksmay be transferred off-market, in favour of a securities account opened in thename of the settled subscriber, without charge at the MSE’s Central SecuritiesDepository (hereinafter the CSD), until the CSD receives further authenticatedinstructions. The supplied International Bank Account Number (IBAN) will beavailed for the payment of any interests or other payments that maysubsequently become due to the settled subscriber during such time that theStocks remain credited in the said CSD account, on the relevant record date.

4.ALLOTMENT POLICY OF STOCK

Allocationof Stock will be made in the following order:

a)applications by auction will be considered after applications at the offerprice per €100 nominal are exhausted.

b)In the event that the original sum on issue is over-subscribed, the Treasuryreserves 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 underparagraph (2) (d).

c)In case that notwithstanding the exercise of the over-allotment option therestill remains applications which are unsatisfied, then the Treasury will scaledown applications as deemed appropriate.

d)Bids at the last rate accepted for each Stock by more than one applicant willbe 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 theform of sealed bids (auction) will be determined and announced two hoursimmediately 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

TheAccountant General reserves the right to exercise an over-allotment option andallocate an additional amount of up to a maximum of € 60,000,000.

Refundsof applications, which are not wholly allotted, will be effected before theissue of the relevant Registration Advices. Such refunds will be paid by credittransfer through the Single Euro Payments Area (SEPA) scheme in theInternational Bank Account Number (IBAN) indicated in the respectiveapplication form for the payment of interest.

6.UNDERISSUANCE

TheAccountant General reserves the right to accept bids for the full amount or anypart 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 INTEREST

Interestis payable half yearly in arrears on the:

a)(i) 26th day of March and the 26th day of September during the tenor of the 2%Malta Government Stock 2020 (V); and

(ii)24th day of January and the 24th day of July during the tenor of the 2.3% MaltaGovernment Stock 2029 (II).

b)(i) In the case of accepted applications submitted by members of the publicunder paragraph 2 (d) in respect of the 2% Malta Government Stock 2020 (V)F.I., the first pro rata interest payment covering the period from the 12thOctober, 2015 (the issue date) to the 25th March, 2016 (both dates inclusive)will be made at the rate of 0.912088 per cent on the 26th March, 2016;

(ii)in the case of accepted bids/applications submitted by institutional investorsunder paragraphs 2 (e) and (f) in respect of the 2% Malta Government Stock 2020(V) F.I., the first pro rata interest payment covering the period from the 14thOctober, 2015 (the issue date) to the 25th March, 2016 (both dates inclusive)will be made at the rate of 0.901099 per cent on the 26th March, 2016;

(iii)in the case of accepted applications submitted by members of the public underparagraph 2 (d) in respect of the 2.3% Malta Government Stock 2029 (II) F.I.,the first pro rata interest payment covering the period from the 12th October,2015 (the issue date) to the 23rd January, 2016 (both dates inclusive) will bemade at the rate of 0.650000 per cent on the 24th January, 2016;

(iv)in the case of accepted bids/applications submitted by institutional investorsunder paragraphs 2 (e) and (f) in respect of the 2.3% Malta Government Stock2029 (II) F.I., the first pro rata interest payment covering the period fromthe 14th October, 2015 (the issue date) to the 23rd January, 2016 (both datesinclusive) will be made at the rate of 0.637500 per cent on the 24th January,2016.

c)(i) Payment of interest of each stock will be made by credit transfer throughthe Single Euro Payments Area (SEPA) scheme in the International Bank AccountNumber (IBAN) as advised on the application form.

(ii)If the interest date falls on a day other than a business day, interest paymentwill be made on the immediately following business day. A “business day” meansa day other than a Saturday, a national or public holiday listed in sections 2and 5 (1) of the National Holidays and other Public Holidays Act (Cap. 252 ofthe Laws of Malta), a bank holiday as declared under section 3 (2) (b) of theBanking 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 bepublished on European Central Bank’s website (www.ecb.europa.eu).

8.FUNGIBILITY

TheAccountant General reserves the right to issue, in future, additional amountsof each of the present Stock in further tranches. In the event of such furtherissues these will be integrated with the respective existing Stock.

9.REDEMPTION OF STOCK

(i)The 2% Malta Government Stock 2020 (V) shall be redeemed at par on the 26thSeptember, 2020.

(ii)The 2.3% Malta Government Stock 2029 (II) shall be redeemed at par on the 24thJuly, 2029.

10.SECURITY

TheStock and interest thereon will be a charge on the General Revenue and Assetsof the Government of Malta.

11. TRADING ON THE MALTA STOCKEXCHANGE

a)Pursuant to the Financial Markets Act, Cap. 345, an application has beensubmitted to the Listing Authority for the bonds to be admissible to listingand to the Malta Stock Exchange for the bonds to be admitted to its OfficialList.

b)On the 26th March, 2016, after the payment of the first interest as indicatedin paragraphs 7 (b) (i) and 7 (b) (ii), any amount allotted under the 2% MaltaGovernment Stock 2020 (V) F.I. shall be integrated with the existing issue ofthis Stock and thereafter shall be deemed to be one Stock.

c)On the 24th January, 2016, after the payment of the first interest as indicatedin paragraphs 7 (b) (iii) and 7 (b) (iv) any amount allotted under the 2.3%Malta Government Stock 2029 (II) F.I. shall be integrated with the existingissue of this Stock and thereafter 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 inaccordance with Paragraph 3 of Article 12 of the European Stability Mechanism(ESM) Treaty, the model Collective Action Clauses (CAC) became mandatory in allnew euro area government securities with maturity above one year issued on orafter 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 anymodifications 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 ‘reservedmatter’ modification, involving the modification of the most importantterms and conditions of this Stock, such as a reduction in the principal orinterest payable on this Stock, or changes in the dates when interest ispayable or Stock is redeemable, or change the definition of a ‘reservedmatter’; and (2) A ‘non-reserved matter’ modification, involving themodification of less important terms and conditions other than a reservedmatter.

(iii)Under the CAC, a modification may be proposed in relation to either a singlestock, a so-called single-series modification, or to more than one stock at thesame time, a so-called cross-series modification.

(iv)Modification of stock in relation to a ‘reserved matter’ shall require theaffirmative vote of stockholders of not less than 75% of the aggregateprincipal amount of the outstanding stock represented at a meeting dulyconvened, or not less than 66 2/3% of the aggregate principal amount of theoutstanding stock in the case of written resolution.

(v)In relation to a ‘non-reserved matter’ modification, the affirmative vote ofstockholders of more than 50% of the aggregate principal amount of theoutstanding stock represented at a meeting duly convened, or of more than 50%of the aggregate principal amount of the outstanding stock in the case ofwritten resolution, is required.

(vi)In all events, a proposed modification shall require the consent of theAccountant General and, if approved, shall be binding for all stockholders.

b)Notice of Meetings of Stockholders shall be published by the Accountant Generalat least 21 days prior to the date of the meeting or, in the case of anadjourned meeting, at least 14 days prior to the date of the adjourned meeting. The notice shall, amongst other matters, (i) specify the date, time andlocation of the meeting; (ii) set out the agenda and quorum for, and the textof any resolutions proposed to be adopted; and (iii) set out any additionalrules adopted by the Accountant General and, if applicable, the conditionsunder which a cross-series modification will be deemed to have been satisfiedif it is approved as to some but not all the affected series of debtsecurities.

c)The Chair of any meeting of stockholders will be appointed by the AccountantGeneral; or if such person nominated is not present at the meeting, by theholders of more than 50% of the aggregate principal amount of the Stocks thenoutstanding represented at the meeting.

d)The Accountant General shall publish, without undue delay, all notices andother matters required to be published pursuant to Stockholders Meetings andWritten 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 ofthe European Union at its summit held on 24-25 March, 2011, and in accordancewith Paragraph 3 of Article 12 of the European Stability Mechanism (ESM) Treaty,can be found on the Treasury website (www.treasury.gov.mt) under thesection reserved for the Debt Management Directorate.

Note: The aboveparagraph on the Collective Action Clauses (CACs) contains summarizedinformation taken from the Model Collective Action Clauses (CACs). Allpotential applicants are solicited to access the detailed CACs which can befound on the Treasury website, and any decision to invest in the Stock/s shouldbe based on consideration of the Prospectus as a whole. 

13.RELEVANT LEGISLATION

The Budget Measures Implementation (2015) Act (Cap. 541),the Local Loans (Registered Stock and Securities) Ordinance, (Cap. 161), andDirective by the Minister for Finance under articles 4 (1) (a) and 6 (1) of thesaid Ordinance, the Local Loans (Registered Stock) Regulations, 1959.

Note: The value ofthe investment may go up and/or down during the tenor of the Stock.

IN exercise of the powers conferred by Section 115of the Code of Police Laws (Chapter 10), the Minister for Transport andInfrastructure has been pleased to order that the numbers/names of the doors inthe undermentioned street at Is-Siġġiewi, specified in the subjoined schedule,be altered as stated in the said schedule.

IN exercise of the powers conferred by Section 115of the Code of Police Laws (Chapter 10), the Minister for Transport andInfrastructure has been pleased to order that the numbers/names of the doors inthe undermentioned street at L-Imsida, specified in the subjoined schedule, be alteredas stated in the said schedule.

Amendment

WITH reference to Government Notice No. 647 dated 27thJuly, 2001 and Government Notice No. 1077 dated 18th November, 2003, under thetitle of ‘Renumbering of Doors at Il-Mosta, the following amendment in boldshould be made.

Notificationof Exemption of Environmental Planning Statement

In conformity with Regulation 3(8) of the EnvironmentalImpact Assessment Regulations (Legal Notice 114 of 2007), and in view of thefact that MEPA has determined that the proposal is unlikely to have significantenvironmental impacts, the Director of Environment Protection agrees that theproposal does not require the preparation of an Environmental PlanningStatement (EPS). 

TheProject Description Statement (PDS) presented as part of the application hasconsidered the environmental issues in a sufficient manner such that thepreparation of an EPS would not add any new information and MEPA has all thenecessary information to determine the application. From the informationpresented in the PDS and screening according to Schedule IB of the same Regulations,the proposal is not likely to have significant environmental effects.

Adetailed justification is presented below:

ReferenceNumber: TRK 153575

Location:             Il-Barriera tal-Perwilin,Kuntrada tal-Perwilin, Għarb, Gozo

Proposal: To sanction all illegalities

Thefollowing potential environmental impacts were identified and mitigationmeasures proposed in the Project Description Statement (PDS) submitted to MEPAon the 21st June, 2015 and updated on the 27th July, 2015 and the justificationfor proposal from carrying out an Environmental Impact Assessment (EIA)submitted on 2nd September, 2015.

Notwithstandingthe above, the Malta Environmental and Planning Authority reserves the right torequest the applicant to submit additional information as may be necessary todetermine the application.

THECommissioner of Inland Revenue notifies that on the date shown hereunder, theprice of gold and silver on which valuations made by the Consuls for Goldsmithsand Silversmiths are based has been fixed for the purposes of article 14 of thesaid Act as follows:

Date                                   Pure Gold                                     Pure Silver

                                                Grams                                            Grams

25.9.2015                               €32.729                                            €0.458