Government Notices published in Government Gazette No. 21,197 of 23rd February 2024

It is being notified for general information that in accordance with the Commissioners for Justice Act (Cap. 291), the Prime Minister approved the renewal of appointment as Commissioners for Justice for a period of two years of:

Brincat, Dr Matthew;

Fenech Gauci, Dr Roberta; and

Zahra, Dr Lynn

with effect from the 15th February, 2024.

It is notified for general information that the following Acts are published in the Supplement to this Gazette:

Act No. VII of 2024 entitled the Criminal Code (Amendment No. 3) Act, 2024;

Act No. VIII of 2024 entitled the Sports Governance and Integrity (Amendment) Act, 2024;

Act No. IX of 2024 entitled the Sports Governance and Integrity (Amendment No. 2) Act, 2024; and

Act No. X of 2024 entitled the Criminal Code (Amendment No. 4) Act, 2024.

Appointment on the National Air Pollution Control Programme Technical Committee

It is notified for general information that the Minister for the Environment, Energy and Regeneration of the Grand Harbour has approved the appointment of Ms Janette Axisa to serve on the National Air Pollution Control Programme Technical Committee instead of Mr Kevin Farrugia. This appointment is effective from 16th February, 2024 until 28th November, 2025.

​Appointment on the Board of the Environment and Resources Authority

IT is hereby notified for general information that in the exercise of the powers conferred by Article 6 of the Environment Protection Act (Cap. 549), the Minister for the Environment, Energy and Regeneration of the Grand Harbour appointed Professor Saviour Formosa as an Independent Member on the Board of the Environment and Resources Authority

This appointment is effective from the 12th of February, 2024, for a period of three (3) years.

IT is notified that in exercise of such powers as provided by Article (3) of the Commissioners for Oaths Ordinance (Cap. 79) the Minister for Justice and Reform of the Construction Sector appointed as Commissioners for Oaths, in the performance of their duties and for as long as they remain in such office, the undermentioned:

Public Officers/Employees

Borg, Ms Maria – Administrative Officer, Community Malta Agency

Farrugia, Mr Emanuel – Administrative Officer, Community Malta Agency

Stivala,  Ms Berenice – Administrative Officer, Community Malta Agency

Persons who perform functions relating to the foreign service of the Government outside Malta

Attard, Mr Joel – Second Secretary, Permanent Representation of the Republic of Malta, Strasbourg, France

Camilleri Vettiger, Dr Francesca – Ambassador/Permanent Representation of the Republic of Malta, Strasbourg, France

Advocates

Parnis, Dr Doreen

By Authority

Jonathan Attard

Minister for Justice and Reform of the Construction Sector

In exercise of the powers conferred by Article 113 of the Civil Code (Cap. 16), the Minister for Justice and Reform of the Construction Sectorhas made this Order whereby the Adoption Order dated 4th May, 1967, issued by the Walsall County Court in the United Kingdom, is being specified as an adoption of the person therein mentioned for the purposes of Articles 113, 130 and 130A of the Civil Code.

(Sgd) Dr Jonathan Attard

Minister for Justice and Reform of the Construction Sector

In exercise of the powers conferred by Article 113 of the Civil Code (Cap. 16), the Minister for Justice and Reform of the Construction Sectorhas made this Order whereby the Adoption Order dated 19th November, 1964, issued by the Supreme Court of Bahamas is being specified as an adoption of the person therein mentioned for the purposes of Articles 113, 130 and 130A of the Civil Code.

(Sgd) Dr Jonathan Attard

Minister for Justice and Reform of the Construction Sector

It is  hereby  notified  for  general  information  that  the following  person  has  been  appointed Deputy Executive Secretary  of  that  Local  Council  with  effect  from 15th January, 2024:

​Local Council Deputy Executive Secretary

Mellieħa                                 Marica Gambin          

​Court Appointed Experts – Architects and Civil Engineers 2024

It is notified for general information that the persons mentioned hereunder have been nominated on the Panel of Architects and Civil Engineers for the period from the 1st January, 2024 to the 31st December, 2024, or for such a shorter term as may be decided by a Board appointed for such purpose:

Abela, Perit Godwin

Abela, Perit Kevin

Agius, Perit Arielle

Attard, Perit Joseph

Attard, Perit Jean Pierre

Avallone, Peritn Alistair

Bencini, Perit Kevin

Bezzina, Perit Anthony

Bondin, Perit Joseph

Bonello, Perit Marc

Bonnici, Perit Jonathan

Borg, Perit Daniel

Borg, Perit Ruben Paul

Borg, Perit Daniel

Borg, Perit Karmenu

Borg Barthet, Perit Jacques

Borg Bonaci, Perit Clive

Borg Costanzi, Perit Albert

Borg Costanzi, Perit Elena

Borg Francalanza, Perit Michela

Borg Marks, Perit Kylie

Bugeja, Perit Joseph

Buhagiar, Perit Konrad

Buhagiar, Perit Vincent

Buhagiar, Perit Paul

Busuttil, Perit Claude

Buttigieg, Perit Gilbert

Camilleri, Perit Anthony

Camilleri, Perit Mark

Camilleri, Perit Paul

Camilleri, Perit Ian

Camilleri Burlὸ, Perit Kurt

Carter, Perit Claire

Caruana, Perit Mark

Caruana Galea, Perit MarieLouise

Caruana Montaldo, Perit Edgar

Casha, Perit Matthew

Cassar, Perit Mario

Cassar, Perit Stephanie

Cassar, Perit Vincent

Ciappara, Perit Donatella

Cilia, Perit Tiziana

Cilia, Perit David

Cordina, Perit Daniel

Costa, Perit Beverley

Cutajar, Perit Alex

Cutajar, Perit Charmaine

Cutajar, Perit Karl

De Bono, Perit Martin

Debattista, Perit Emanuel (Noel)

Delicata, Perit Ann Marie

Demicoli, Perit John

Desira, Perit Amanda

Ellul, Perit Andrew

Ellul, Perit Frank

Ellul, Perit Marvin

Farrugia, Perit Carmel

Farrugia, Perit Johann

Farrugia, Perit Charles S.

Farrugia, Perit John B.

Farrugia, Perit Stephen

Felice, Perit David

Fenech, Perit Robert

Fiott, Perit Alessandra

Formosa, Perit Eric

Formosa, Perit Mario

Fsadni, Perit Mireille

Galea, Perit M. Roberta

Gauci, Perit Noel

Gauci, Perit Ramon

Gauci, Perit Matthew

Geissler , Perit Peter

Giordano, Perit Ivan

Grech, Perit Philip

Grech, Perit Jonathan

Grech, Perit Chris

Grima, Perit Daniel

Grima, Perit David

Lanfranco, Perit Michael

Lewis, Perit Odette

Lewis, Perit William

Magri, Perit Etienne

Magri, Perit Miriam

Mallia, Perit Claude

Mallia, Perit Claude R.

Mallia, Perit Nicholas

Mallia, Perit M. Roberta

McKenna, Perit  Maria

Micallef, Perit Edward

Micallef, Perit Kerstien

Micallef, Perit Paul

Micallef, Perit Shawn

Micallef, Perit Stephen

Micallef, Perit Philip

Mifsud, Perit Amadeo

Mifsud, Perit Danica

Mifsud, Perit Duncan

Mifsud, Perit James

Mifsud, Perit Lyanne

Mifsud, Perit Philip

Mintoff, Perit Edwin

Musumeci, Perit Robert

Pace, Perit Alexei

Pace, Perit David

Pace, Perit Ivan C.

Pace, Perit Sarah

Pace, Perit Rupert

Pizzuto, Perit Andre

Polidano, Perit Duncan

Poulton, Perit Pierre

Pullicino, Perit George

Rausi, Perit Kenneth

Rizzo Naudi, Perit John M.

Robinson, Perit Anthony

Rossignaud, Perit Edgar

Saliba, Perit Joseph

Saliba, Perit Simon

Schembri, Perit  George

Schembri, Perit  Giorgio

Schembri, Perit  Valeriano

Sciberras, Perit Darren

Scicluna, Perit Steve

Sciortino, Perit Ruben

Settipani, Perit Francesca

Spiteri, Perit Melanie

Spiteri, Perit Joseph

Spiteri, Perit Roderick

Sultana, Perit David

Sutton, Perit Carmen

Tabone, Perit Cleaven

Tabone, Perit Cornelia

Thake, Perit Conrad

Valentino, Perit Anton

Van Dijk, Perit Bernice         

Vella, Perit Godfrey

Vella, Perit Jevon

Vella, Perit Robert C.

Vella Lenicker, Perit Damian

Vella Lenicker, Perit Simone

Wismayer, Perit Amber

Xuereb, Perit Konrad

Xuereb, Perit Krista

Zahra, Perit David

Zahra, Perit Josef

Zammit, Perit Anton

Zammit, Perit Godwin

Zammit, Perit Hector

Zammit, Perit Leonard

Zammit, Perit Ivan

Zammit, Perit Manuel

Zarb, Perit Jean Luke

Zerafa, Perit Robert

The Commissioner of Police, in terms of articles 7 and 8 of the Private Guards and Community Officers Act 1996, hereby notifies that the following applications as mentioned hereunder have been received:

Applikazzjoni ghal-liċenzja bħala Gwardjan Privat

Application for licence of aPrivate Guard

Isem u kunjom                            Nru. tal-Karta tal-Identità                     Indirizz                                                                                                                                       

Name and SurnameIdentity Card No.Address

Any person may, within one month from the publication of this notice, object in writing to the Commissioner about the issue of the above licences on any of the grounds listed in section 10 of the Private Guards and Community Officers  Act 1996, which are:

(a) where the applicant or any officer of the applicant or any person who has an effective control of the services to be provided by the applicant.

(i) has been convicted in Malta or elsewhere of any crime against the safety of the state, or of any crime of voluntary harm or injury to any person or any crime against property or public trust or any other serious crime; or

(ii) has been declared bankrupt or his financial position is precarious or otherwise renders the applicant unsuitable; or

(iii) has been discharged from the police or armed forces  or the prison services because of any offence or other misbehaviour; or

(iv) is a public officer or a member of the police or armed forces or the prison services; or

(b) when information is available which is in the public interest; or

(c) where the applicant does not possess the necessary qualifications as may be prescribed by or under the Act.

Completion of Road Formation and Traffic and Parking Suspension

In virtue of Article eighteen (18) of Legal Notice 291 of 2018, the Agency for Infrastructure Malta hereby gives official notice of its intention to complete the formation of:

Misraħ Mikiel Anton Vassalli, Żejtun (indicated on site plan on page 1951).

Triq il-Għadam, Żejtun (indicated on site plan on page 1952).

Triq is-Siniskalk, Żejtun (indicated on site plan on page 1953).

Any person who is obliged by law to form said road (including by acquiring land necessary for the same formation) has fifteen (15) days from the date of the publication of this notice within which to comply with his obligations at law. In default, the Agency for Infrastructure Malta shall itself proceed with the formation of this road in accordance with its powers at law and at the expense of those persons whose obligation it is to form the road

The Agency for Infrastructure Malta notifies that between 1st March, 2024 and 29th November, 2024, it will be starting road works in Misraħ Mikiel Anton Vassalli, Żejtun. Vehicular access and on-street parking in this road may be restricted during certain works. 'No parking' signs authorised by Transport Malta will be affixed on site before such parking restrictions come in force.

The Agency for Infrastructure Malta notifies that between 1st March, 2024 and 29th November, 2024, it will be starting road works in Triq il-Għadam, Żejtun. Vehicular access and on-street parking in this road may be restricted during certain works. 'No parking' signs authorised by Transport Malta will be affixed on site before such parking restrictions come in force.

The Agency for Infrastructure Malta notifies that between 1st March, 2024 and 29th November, 2024, it will be starting road works in Triq is-Siniskalk, Żejtun. Vehicular access and on-street parking in this road may be restricted during certain works. 'No parking' signs authorised by Transport Malta will be affixed on site before such parking restrictions come in force.

Vehicles found in contravention to the order of this notice and to the related 'no parking' signs on site are liable to be towed.

Further assistance or more information may be obtained by email to (info.im@infrastructuremalta.com).

OFFER OF ROLLOVER TO BONDHOLDERS

OF 62+ MALTA GOVERNMENT SAVINGS

BOND – ISSUE 2019

AT THE RATE OF 3% PER ANNUM

TO A NEW 62+ MALTA GOVERNMENT

SAVINGS BOND - ISSUE 2024

AT THE RATE OF 3.35% PER ANNUM

Summary of the main terms of the Rollover

The following summary must be read as an introduction to this prospectus and any decision to participate in this Rollover is based on consideration of the prospectus as a whole by the investor. The Prospectus deals with the terms of the Rollover as well as the terms of the New Bond that will be created as a result of this Rollover.

Name of Issuer:Government of Malta.

Brief description of the Rollover:On the date of maturity of the 62+ Malta Government Savings Bond – Issue 2019 set for the 20th of March 2024, the maturing Bond may be reinvested and converted into a new 62+ Malta Government Savings Bond – Issue 2024 upon the assent of the Existing Bondholder. The New Bond shall be issued with the same terms and conditions of the Maturing Bond save for the annual interest rate which shall be 3.35% per annum.

Terms of the Exchange: €100 nominal in the New Bond for every €100 nominal of the Maturing Bond.

Who can participate in the Rollover? Existing Bondholders of the 62+ Malta Government Savings Bond – Issue 2019 whose name appears on the bond register at close of business of Friday, the 23rd of February 2024 (the cut-off date) are eligible to rollover the full maturity value of the maturing bond into the New Bond.

How much can the Existing Bondholder reinvest? Existing Bondholders can only reinvestthe full maturing value of the 62+ Malta Government Savings Bond – Issue 2019.

Summary of the main terms of the New Bond to be created from this Rollover.

Title of the Bond: 62+ Malta Government Savings Bond– Issue 2024.

ISIN: MT4000010085.

Type of the new Bond: Fixed rate Bond.

Term: 5 Years.

Interest rate (coupon): The rate of interest of the 62+ Malta Government Savings Bond - Issue 2024 is 3.35% per annum.

Non-Transferable and non-negotiable debt Instrument: The 62+ Malta Government Savings Bond – Issue 2024 cannot be negotiated, assigned, or transferred onto any other individual or legal person and cannot be pledged.

Interest payment dates: The interest will be payable semi-annually in arrears on the 20th of March and the 20th of September during the tenor of the Bond unless the sum reinvested is withdrawn before. The first semi-annual interest payment will be made on the 20th of September 2024.

How can one reinvest in the New Bond? Eligible applicants shall receive by post a prescribed Application Form from the Accountant General. Those who elect to rollover their holdings are to sign the Application Form and send it to the Registrar in the self-addressed envelope provided by not later than Wednesday, the 6th of March 2024.

Maturity:The 62+ Malta Government Savings Bond – Issue 2024 shall be repaid at par on the 20th of March 2029.

What happens at the end of the investment term? The Malta Government Savings Bond – Issue 2024 is a special issue and therefore there is no guarantee that another 62+ Malta Government Savings Bond issue will be available when the Bond is repaid.

Terms and Conditions

1. Application and Interpretation

(a) The 62+ Malta Government Savings Bond - Issue 2024 to be created from the Rollover is a retail debt instrument offered by the Accountant General under the Government Borrowing and Management of Public Debt Act (Cap. 575 of the Laws of Malta) and is subject to the Malta Government Retail Savings Bonds Regulations (the Regulations) as amended or re-enacted from time to time.

(b) This prospectus is being published in accordance with article 25 (3) of the Government Borrowing and Management of Public Debt Act and regulation 4 of the Regulations. This prospectus in conjunction with the Government Borrowing and Management of Public Debt Act and Malta Government Retail Savings Bonds Regulations shall govern this issuance.

2. Definitions

In these terms and conditions:

(a) “Accountant General" means the Accountant General of the Government of Malta who heads the Treasury Department.

(b) “Bondholder" means any individual in whose name the Bond is entered in the register.

(c) “New Bond" for the purpose of this prospectus means the 62+ Malta Government Savings Bond – Issue 2024 (ISIN: MT4000010085) that will be created in exchange for the existing 62+ Malta Government Savings Bond – Issue 2019.

(d) “Business day" means a day other than a Saturday, a national or public holiday listed in articles 2 and 5(1) of the National Holidays and other Public Holidays Act, a bank holiday as declared under article 3(2)(b) of the Banking Act, or a day when the Trans-European Automated Real-time Gross settlement Express Transfer System (TARGET), owned and operated by the Eurosystem, is closed for business as may be published on the European Central Bank's website; (www.ecb.europa.eu).

(e) “Eligible Applicants" for the purpose of this prospectus means all individuals whose name appeared on the register of the 62+ Malta Government Savings Bond – Issue 2019 at close of business of Friday the 23rd of February 2024 (the Cut-Off Date), excluding holders who elected for the early redemption of principal on the 5th of March 2024.

(f) “Claims" in respect of the 62+ Malta Government Savings Bond - Issue 2024 include both the principal repayment and the interest due if any, on the said 62+ Malta Government Savings Bond – Issue 2024.

(g) “Maturing Bond" is the 62+ Malta Government Savings Bond – Issue 2019 (ISIN 4000010044) issued under Government Notice 309 published in the Government Gazette of the 5th of March 2019 which will be redeemed on the 20th of March 2024.

(h) “Maturity date" is the date when the Bond falls due for repayment.

(i) “Registration Manager" means the financial institution appointed by the Accountant General in terms of Article 24(2) to manage the Rollover on behalf of the Treasury.

(j) “Regulations" the word regulations in this prospectus means the Malta Government Retail Savings Bonds Regulations.

(k) “Rollover" in this prospectus means the mechanism by which the 62+ Malta Government Savings Bond – Issue 2019 maturing on the 20th of March 2024 shall be converted to the new 62+ Malta Government Savings Bond – Issue 2024 on a voluntary basis.

3. Offer of Rollover of the 62+ Malta Government Savings Bond – Issue 2019

(a) The Accountant General invites bondholders of the maturing 62+ Malta Government Savings Bond– Issue 2019 to rollover all their holdings into a new 62+ Malta Government Savings Bonds – Issue 2024 (New Bond) with effect from the 20th of March 2024.

(b) The rollover of holdings of the maturing Bond shall take place on the condition that the Bond is free from all liens and charges and with all the rights now or hereafter attached to it.

(c) Bondholders who do not wish to rollover their holdings are not required to do anything and will receive the whole redemption proceeds on the scheduled maturity date of the 20th of March 2024.

(d) On the redemption date of the maturing Bond, the Treasury shall redeem all the nominal amounts of the 62+ Malta Government Savings Bond – Issue 2019. The portion from the maturing Bond that will be renewed, made by applicants who voluntarily assent to rollover their investment, will be converted into the new Bond, the 62+ Malta Government Savings Bond – Issue 2024. The remaining portion consisting of bondholders who opt out from the Rollover will be repaid to these bondholders in their bank account (IBAN) in which the interest is received as held in the register of the Malta Stock Exchange.

4. Eligibility

(a) The eligible applicants who can rollover the maturing proceeds in the New Bond are the existing bondholders of the 62+ Malta Government Savings Bond – Issue 2019 whose name appears on the register of this bond at close of business of Friday the 23rd of February 2024 (the Cut-Off Date) excluding holders who elected for the early redemption of principal on the 5th of March 2024.

(b) The eligible bondholders must agree to rollover the full amount of their holding and shall not be allowed to apply for any amount in the New Bond that either exceeds or falls short of the nominal amount held in the Maturing Bond.

5. Terms of the Bond Exchange:

€100 nominal in the New Bond for every €100 nominal of the Maturing Bond such that bondholders electing to rollover their holdings shall be allocated the same nominal value they held in the 62+ Malta Government Savings Bond – Issue 2019 in the new 62+ Malta Government Savings Bond - Issue 2024.

6. Investment Terms of the New Bond

(a) With effect from the 20th of March 2024, the nominal amount resulting from the rollover shall be converted into a New Bond, the 62+ Malta Government Savings Bond – Issue 2024.

(b) The 62+ Malta Government Savings Bond – Issue 2024 will earn interest at a fixed rate of 3.35% per annum for the whole five-year term of the Bond. Interest will be paid semi-annually for the full term of the Bond starting from the date of issuance which is the 20th of March 2024 (issue date) up to the last day which immediately precedes the date of the maturity of the Bond set for the 20th of March 2029.

7. Non-Transferability

The New Bond or any interest thereon may not be transferred or assigned to any other individual or legal person or pledged, in whole or in part. There will be no secondary trading market for the Bond.

8. Appointment of the Registration Manager

The Malta Stock Exchange p.l.c. (MSE) having its registered office at Garrison Chapel, Castille Place, Valletta (C.42525) has been appointed as the Registration Manager to manage the Rollover on behalf of the Treasury.

9. Arrangements for the Rollover – Closing Date for the submission of the Application Form

(a) The Accountant General shall send a prescribed Application Form to eligible holders of the Maturing Bond whose name appeared on the register at close of business on the 23rd of February 2024 (the cut-off date).

(b) The Application Forms shall include, inter alia, the nominal amount held in the 62+ Malta Government Savings Bond – Issue 2019, the MSE account number, name, surname, and address of the applicant.

(c) Bondholders who wish to rollover all their holdings shall sign the Application Form and send it to the Registrar in the self-addressed envelope provided with the Application Form.

(d) The Application Form duly signed is to be sent by not later than Wednesday, the 6th of March 2024.

(e) The heirs of deceased holders of the maturing bond where the transmission Causa Mortis is not yet finalised are not eligible to participate in the Rollover.

(f) All applications will be irrevocable after the closing time.

(g) The Accountant General acting through the Registration Manager has the right to reject any application if the applicant has failed to comply in a material manner with the terms and conditions contained in this prospectus.

10. Allocation Policy:

Bondholders of the Maturing Bond electing to rollover their holdings shall be allocated the same nominal amount in the New Bond.

11. Interest payments and interest payment dates

(a) The interest will be paid semi-annually in arrears on the 20th of March and the 20th of September in every year during the tenor of the Bond at the rate of 1.675% calculated on the nominal amount of the Bond.

(b) The first semi-annual interest payment at the rate of 1.675% covering the period from the 20th of March 2024 (issue date) up to the 19th of September 2024 (both dates inclusive) shall be paid on the 20th of September 2024.

(c) If an interest payment date falls on a non-business day, payment will be made on the succeeding business day without payment of additional interest.

12. Method of payment of interest and repayment of principal of the New Bond

(a) The settlement of all types of payments linked to this Bond, including:

(i)) semi-annual interest payments,

(ii) early repayment of principal and

(iii) redemption of the Bond on its maturity date,

shall be made by direct credit transfer through the Single Euro Payments Area (SEPA) scheme in the latest IBAN held in the 62+ Malta Government Savings Bond – Issue 2019 register as at cut-off date. The IBAN may be subsequently changed by giving notice in writing to the Central Securities Depository (CSD) of the Malta Stock Exchange.

The Treasury does not charge for sending payments; however, the beneficiary's bank could charge a fee to receive the funds when these exceed certain amounts. The Accountant General shall not be held responsible for any bank charges arising in connection with any payment in respect of this Bond.

13. Tax

(a) The interest earned from the 62+ Malta Government Savings Bond - Issue 2024 is taxed in accordance with the investment income provisions of the Income Tax Act (Cap. 123 of the Laws of Malta).

(b) The tax election in respect of the New Bond shall be the latest tax election registered in the 62+ Malta Government Savings Bond – Issue 2019 register as at cut-off date. The tax election may be subsequently changed by giving notice in writing to the Central Securities Depository (CSD) of the Malta Stock Exchange.

(c) Every year, the Accountant General will (i) render an account to the Maltese Commissioner for Revenue of all amounts of interest paid and tax deducted as well as the identity of the recipient and (ii) will inform the Maltese Commissioner for Revenue of all interest paid gross and of the identity of all such recipients.

14. Early redemptions and cancellation

(a) Bondholders may withdraw the whole amount invested in the 62+ Malta Government Savings Bond - Issue 2024 before the maturity date of the Bond subject to the payment of a penalty for early redemption in terms of paragraph 16 below. No application for a partial withdrawal from an individual's holding will be entertained during the life of the Bond.

(b) Applications for early redemptions shall be made on the prescribed form which can be downloaded from the Treasury's website and sent to the Treasury Department. The Accountant General will normally initiate the electronic transfer of funds within 30 days. Typically, the early redemptions are payable on the fifth (5) day of the month.

(c) Bondholders' requests for early redemptions are irrevocable and cannot be withdrawn after they are submitted to and received by the Accountant General.

(d) The Bonds which are redeemed before the maturity date of the Bond as specified in this paragraph and paragraph 17 will be cancelled.

15. Calculation of accrued interest on early redemption

(a) Where the bondholder withdraws the principal before the first interest payment date, the bondholder shall be entitled to interest from the issue date of the Bond up to the last day which immediately precedes the repayment date.

(b) Where a bondholder withdraws the principal before the maturity date but after the first interest payment date, the bondholder shall be entitled to interest from the last interest payment date up to the last day which immediately precedes the date when the repayment of principal is made.

16. Penalty for early redemption

(a) Except where sub-paragraph 17 (c) applies, a penalty, equivalent to three (3) months gross interest on the principal withdrawn, at the interest rate of the Bond, i.e., 3.35% per annum, will be deducted from the repayment. The formula for calculation and application of the penalty is as follows:

Penalty Amount = P x R x 3
                                     12

Where:  P is the principal amount withdrawn; and

        R the annual interest rate of 3.35% the Bond is earning.

By way of example, a Bondholder who invested the maximum amount permissible of €10,000 who opts for early redemption of the Bond will incur a penalty of €83.75.

(b) If there is insufficient interest due in the current interest period to meet the early redemption charge, an adjustment to the principal being repaid will be made to meet the penalty. If a Bondholder encashes the Bond within the first three months of its commencement, the Bondholder will get back less than originally invested.

17. Claim for encashment of the bond through transmission Causa Mortis

(a) Upon notification of the death of a Bondholder occurring before the maturity date of the bond, the account is put on hold. The bond will continue to earn interest until it is repaid to the beneficiaries (heirs) of the deceased Bondholder through the transmission Causa Mortis procedure. The encashment of the bond must comprise the full amount of the bond and the monies will be paid to the beneficiaries in accordance with the provisions of the will. Claims for part encashment of the bond will not be entertained.

(b) The Bond registered in the name of a deceased person is not transferable onto the beneficiaries of the deceased Bondholder but will be repaid as stipulated in article 17(a). On payment of the principal to the beneficiaries of the deceased bondholder through the transmission Causa Mortis procedure, the account will be closed, and the bond will be cancelled.

(c) No penalty will be charged where the Bond is repaid before maturity to the beneficiaries of the deceased Bondholder through the transmission Causa Mortis procedure.

18. Redemption of the 62+ Malta Government Savings Bond – Issue 2024

The 62+ Malta Government Savings Bond – Issue 2024 shall be redeemed at par on the 20th of March 2029.

19. Cut-off date for amendments in the register

The register shall be closed for a period of ten (10) days immediately preceding each date upon which the semi-annual interest on the bond falls due and no amendments such as, change of (i) address, (ii) tax option and (iii) bank account details, shall be made during this period.

20. Security

The principal and the interest payments thereon of the 62+ Malta Government Savings Bond – Issue 2024 will be a charge on the consolidated fund and other public funds of the Government of Malta.

21. Registration advice and other statements

On registration, the 62+ Malta Government Savings - Issue 2024 Bondholders will receive a registration advice from the Malta Stock Exchange (MSE) through normal post or through the MSE's internal electronic system managed by the MSE.

As soon as the bondholders receive the registration advice from the MSE they should examine it carefully and report any errors or omissions to the Accountant General as soon as possible. It is the responsibility of the Bondholder to ensure that the registration advice and other correspondence received in connection with the 62+ Malta Government Savings Bond – Issue 2024 are kept safely.

22. Prescription

Claims in respect of the 62+ Malta Government Savings Bond – Issue 2024 issued under this prospectus will become prescribed unless presented for payment within six years from the maturity date of the Bond.

23. Data protection clauses

The Accountant General guarantees that any personal data the bondholder may provide in the Application form will be processed in accordance with the requirements of the Data Protection Act (Cap. 586 of the Laws of Malta) and the EU legislation on Data Protection – GDPR (Regulation (EU) 2016/679) in force at the time of data processing.

Personal data collected in the application form will be retained by the Accountant General for six years after the maturity date of the 62+ Malta Government Savings Bond – Issue 2024. However, data required to satisfy judicial or administrative authorities will be held for the period stipulated in the respective Acts and other relevant legislation.

Moreover, the personal data of a bondholder as submitted in the application form will be passed on to the Registration Manager appointed by the Accountant General to manage the Rollover of the 62+ Malta Government Savings Bond - Issue 2019 on his behalf as well as to the Registrar authorised to maintain the register on his behalf. The personal data will be subject to the Registration Manager's and the Registrar's data protection policy.

24. Governing Law

The relevant legislation under which this Bond is being issued are (a) The Government Borrowing and Management of Public Debt Act (Cap. 575 of the Laws of Malta) and (b) the Malta Government Retail Savings Bonds Regulations.

25. Jurisdiction

Exclusive place of jurisdiction for any legal proceedings arising under the 62+ Malta Government Savings Bond – Issue 2024 is Malta.

26. Contact Details

Investors can obtain further information on the Rollover and on other Government Securities by contacting the Treasury Department through one of the below listed contact details:

Address: Treasury Department, Development House, Level 2-3, St. Anne Street, Floriana.

Telephone: 2596-7125

E-mail: treasury.malta@gov.mt

Website: www.treasury.gov.mt

THE Commissioner of Inland Revenue notifies that, on the date shown hereunder, the price of gold and silver on which valuations made by the Consul for Goldsmiths and Silversmiths are based has been fixed for the purposes of article 14 of the said Act as follows: