Government Notices published in Govt. Gazette No. 21,457 of 20th June 2025

IT is notified for general information that the following Bill is published in the Supplement to this Gazette:

​Bill No. 135 entitled the Malta Council for Economic and Social Development (Amendment) Act, 2025.

20th June 2025

Inġiniera Board

It is hereby notified for general information that, in exercise of the powers conferred by Article 6 of the Inġiniera Act (Cap. 321), the Minister for Transport, Infrastructure and Public Works has made the following appointments to the Inġiniera Board:

Chairperson

Dr Noel Camilleri

Deputy Chairperson

Inġ. Keith Chetcuti

Members

Dr Inġ Kenneth Chircop

Inġ. Rudie Vella

These appointments are valid from the 21st June, 2025 to the 20th June, 2028.

It is hereby also notified that the Inġiniera Board is now composed as follows:

Chairperson

Dr Noel Camilleri

Deputy Chairperson

Inġ. Keith Chetcuti

Members

Inġ. Samuel Bonanno

Dr Inġ. Kenneth Chircop

Inġ. Arthur Ciantar

Inġ. Simon Scicluna

Inġ. Rudie Vella

Secretary

Mr Frans Chircop

Warrants of Notary Public 2025

It is notified that the persons listed hereunder, after having complied with the provisions of the mentioned Act, have been appointed Notary Public by Warrant of the President of Malta.

Tamika Agius, Andreas Anastasi, Maria Stephania Attard, Ivana Mariah Bezzina, Hannah Marie Borg Bartolo, Hannah Citil, Daniel Debono, Rachel Ellul, Amy Grech, Kylie Grixti, Naomi Ann Hili, Maxine Pace, Kevin Paul Spiteri Ferriggi, Maximilian Joseph Vassallo Agius

Dr Keith Francis German

Chief Notary to Government

IT is hereby notified for general information that the following person has been appointed Executive Secretary of that Local Council with effect from 16th June, 2025.

Local CouncilExecutive Secretary

Xewkija                                  Marion Mejlak

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:

Part of 2, Triq Antonio Schembri, San Ġwann (indicated on site plan on page 8096).

Part of Triq l-Għarajjex, Żurrieq (indicated on site plan on page 8097)

Triq l-Għadam, Żejtun (indicated on site plan on page 8098).

​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 July, 2025 and 30th November, 2025, it will be starting road works in part of 2, Triq Antonio Schembri, San Ġwann.  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 23rd June, 2025 and 30th November, 2025, it will be starting road works in part of Triq l-Għarajjex, Żurrieq.  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 23rd June 2025 and 30th November 2025, it will be starting road works in Triq l-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.

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

OFFER OF ROLLOVER TO BONDHOLDERS OF 62+ MALTA GOVERNMENT SAVINGS

BOND – ISSUE 2020 AT THE RATE OF 3% PER ANNUM TO A NEW 62+ MALTA GOVERNMENT

SAVINGS BOND - ISSUE 2025 AT THE RATE OF 2.70% PER ANNUM

​Summary of the main terms of the Rollover

This section is an introduction to the Prospectus. Any decision to participate in the Rollover should be based on consideration of the prospectus in its entirety.

Issuer of Bond: Government of Malta

Rollover Description: On the date of maturity, 21 July 2025, the existing bondholders of the 62+ Malta Government Savings Bond – Issue 2020, (the Maturing Bond) may reinvest the maturing proceeds into a new 62+ Malta Government Savings Bond – Issue 2025.

What are the Terms of the Exchange? Each €100 nominal of the Maturing Bond will be exchanged for €100 nominal of the New Bond. The New Bond carries the same terms as the Maturing Bond, except for the updated interest rate of 2.70% per annum.

Who can participate in the Rollover? Existing Bondholders of the 62+ Malta Government Savings Bond – Issue 2020 whose name appears on the register at close of business of Thursday, 5 June 2025 (the Cut-Off Date), excluding holders who have applied for the early redemption of principal in the upcoming early redemption payment cycle which settles on 7 July 2025.

How much can be reinvested? Eligible applicants can only reinvest the full amount of the Maturing Bond.

Summary of the main terms of the New Bond

Title of the Bond: 62+ Malta Government Savings Bond – Issue 2025

ISIN: MT4000010093

Type of the new Bond: Fixed rate Bond

Term: 5 Years

Interest rate (coupon): 2.70% per annum

Interest payment dates: interest payable semi-annually in arrears on 21 January and 21 July of each year during the term of the Bond; first interest payment due on 21 January 2026.

Not Transferable: The Bond cannot be negotiated, assigned, or transferred onto any other individual or legal person and cannot be pledged.

Application Process for the Rollover: Eligible applicants shall receive an Application Form by post from the Accountant General. Those who voluntary elect to roll over their holdings are to sign the Application Form and send it to the Registrar in the self-addressed envelope provided, by not later than close of business of Monday, 7 July 2025.

Maturity Date: 21 July 2030

What happens at the end of the investment term? The Malta Government Savings Bond – Issue 2025 is a special issue and therefore there is no assurance that another 62+ Malta Government Savings Bond will be available when the Bond is repaid on 21 July 2030.

Terms and Conditions

​1. Application and Interpretation

(a) The 62+ Malta Government Savings Bond - Issue 2025 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 regulated by 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 form the legal basis of this Bond 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 an individual in whose name the Bond is registered.

(c) “New Bond" means, the 62+ Malta Government Savings Bond – Issue 2025 (ISIN: MT4000010093) created in exchange for the maturing 62+ Malta Government Savings Bond – Issue 2020 (ISIN: MT4000010051).

(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" means Bondholders whose names appeared on the register of the 62+ Malta Government Savings Bond – Issue 2020 at close of business of Thursday, 5 June 2025 (Cut-Off Date), excluding holders who have submitted an application for the early redemption of principal in the upcoming early redemption payment scheduled for 7 July 2025.

(f) “Maturing Bond": means the 62+ Malta Government Savings Bond – Issue 2020 (ISIN MT4000010051) which matures on 21 July 2025.

(g) “Maturity date" means the date when the Bond falls due for repayment.

(h) “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.

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

(j) “Claims" mean the principal repayment and the interest payable on the New Bond.

(k) “Rollover" means the process by which holders of the Maturing Bond voluntary convert their holdings in the 62+ Malta Government Savings Bond – Issue 2020 into the New Bond.

3. Rollover's Offer

(a) The Accountant General invites eligible applicants holding the maturing 62+ Malta Government Savings Bond – Issue 2020 to voluntarily roll over their full holdings into the new 62+ Malta Government Savings Bond – Issue 2025 (the “New Bond") on the maturity date of the maturing bond, 21 July 2025.

(b) The Rollover of the Maturing Bond is subject to 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 of the Maturing Bond who do not wish to roll over their holdings are not required to take any action and will receive the full redemption proceeds on the scheduled maturity date of 21 July 2025.

(d) On the maturity date, the Treasury shall redeem all the outstanding nominal amounts of the 62+ Malta Government Savings Bond – Issue 2020. The portion of the amount consisting of bondholders who have chosen to rollover their holdings will be converted into the New Bond. Any remaining balances not rolled over will be paid out and credited to the bondholders' registered IBANs.

4. Eligibility

(a) The eligible applicants who may rollover the maturing proceeds into the New Bond are those individuals whose names appear on the register of the 62+ Malta Government Savings Bond – Issue 2020 at close of business on Thursday, 5 June 2025 (the Cut-Off Date) excluding holders who have submitted an application for the early redemption of principal in the upcoming early redemption payment due on 7 July 2025.

(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:

Each€100 nominal of the Maturing Bond will be exchanged for €100 nominal of the New Bond. Bondholders electing to roll over will thus receive the same nominal value they held in the Maturing Bond, in the New Bond of the 62+ Malta Government Savings Bond – Issue 2025 as they held in the Maturing Bond.

6. Creation of the New 62+ Malta Government Savings Bond – Issue 2025

With effect from the 21 July 2025, the nominal amount rolled over shall be converted into the New Bond, the 62+ Malta Government Savings Bond – Issue 2025. The New Bond carries the same terms as the Maturing Bond, except for the updated interest rate of 2.70% per annum.

7. Payment of Interest

(a) The 62+ Malta Government Savings Bond – Issue 2025 pays a fixed rate of interest of 2.70% per annum for the full five-year term of the Bond, that is from 21 July 2025 (issue date) up to the last day which immediately precedes the date of the maturity of the Bond set for 21 July 2030. The interest will be paid semi-annually in arrears on the 21 January and the 21 July in every year during the tenor of the Bond.

(b) The first semi-annual interest payment at the rate of 1.35% covering the period from the 21July 2025 (issue date) up to the 20 January 2026 (both dates inclusive) shall be paid on 21 January 2026.

(c)  Interest on the 62+ Malta Government Savings Bond – Issue 2025 is based on and computed using the 'actual/actual' day count convention.

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

8. The Bond is not transferable

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

​9. Appointment of the Registration Manager

The Malta Stock Exchange p.l.c. (MSE) having its registered office at Garrison Chapel, Castille Place, Valletta (C42525) has been appointed as the Registration Manager to manage the Rollover process on behalf of the Treasury.

10. 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 5 June 2025 (the Cut-Off Date) excluding holders who have submitted an application for the early redemption of principal in the upcoming early redemption payment scheduled for 7 July 2025. 

(b) The Application Form shall include key details such as the nominal amount held in the 62+ Malta Government Savings Bond – Issue 2020, the MSE account number, name, surname, and address of the applicant.

(c) Bondholders wishing to roll over their full holdings must sign the Application Form and send it to the Registrar in the self-addressed envelope provided.

(d) The Application Form duly signed is to be sent by not later than Monday, 7July 2025.

(e) The heirs of the Maturing Bond holder whose release through the Causa Mortis procedure has not yet been concluded may not participate in the Rollover.

(f) All applications are irrevocable after the closing time.

(g) The Accountant General acting through the Registration Manager has the right to reject any application that fails to comply materially with the terms and conditions of this prospectus.

11. Allocation Policy:

All eligible applicants who voluntarily accept to roll over their holdings onto the New Bond and whose application fully conforms to the terms and conditions set out in this Prospectus, will be accepted in full. Each applicant will be allocated a nominal amount in the New Bond equal to the amount held in the Maturing Bond.

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

(a) All payments related to the 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 using the IBAN registered for the Maturing Bond 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.

(b) The Treasury does not charge for sending payments; however, the recipient banks may apply charges for incoming funds exceeding specific thresholds. The Accountant General disclaims responsibility for such charges.

​13. Tax

(a) The interest earned from the bond is taxed under the investment income provisions of the Income Tax Act (Cap. 123 of the Laws of Malta).

(b) The tax option applied to the New Bond shall be the most recent tax election recorded in the register of the 62+ Malta Government Savings Bond – Issue 2020 as at the Cut-Off Date. This option may be changed by giving notice in writing to the Central Securities Depository (CSD) of the Malta Stock Exchange.

(c) Each year, the Accountant General will (i) report to the Commissioner for Tax and Customs all interest paid, tax deducted (if any) and the identity of the recipients.

​14. Early redemptions and cancellation

(a) Bondholders may redeem the full amount of the Bond before its maturity date subject to a penalty for early redemption as set out in paragraph 16 below. Partial withdrawals are not permitted.

​(b) Requests for early redemption must be made on the prescribed form, available on the Treasury's website and submitted to the Treasury Department. Payments for early redemptions are typically made on the 5th day of each month. Applications received before the start of the last week of the month (the Cut-Off Date), will be paid around the 5th day of the following month. Applications submitted on or after the start of the final week of any month will not be processed for payment in the following month, but payment will be scheduled for around the 5th day of the subsequent month.

(c) Bondholders' requests for early redemptions cannot be withdrawn once received by the Accountant General.

​(d) The Bonds redeemed before the maturity date as specified in this paragraph and in paragraph 7 will be cancelled.

15. Calculation of accrued interest on early redemption

(a) When the bond is redeemed before the first interest payment date, the bondholder shall be entitled to interest from the issue date to the day before the repayment date.

(b) When the bond is redeemed after the first interest payment date, but before the maturity, the bondholder is entitled to interest from the last interest payment date up to the day before the early repayment date.

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, of 2.70% per annum, will be applied.

The amount due by way of penalty for early redemption is based on and computed using the day count convention of a year of 360 (three hundred and sixty) days and a month of 30 (thirty) days.

(b) The formula for calculation 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 2.70% 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 €67.50.

(c) If accrued interest is insufficient to cover the penalty, the shortfall will be deducted from the principal. 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 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 in full to the heirs (beneficiaries) of the deceased bondholder under the Causa Mortis procedure. The encashment of the bond must comprise the full amount of the bond and the monies will be paid in accordance with the provisions of the will. Claims for part encashment of the bond will not be entertained.

(b) The Bond cannot be transferred to the heirs. Once the Bond is repaid to the heirs under the Causa Mortis procedure, the account will be closed, and the bond will be cancelled.

(c) No penalty will apply for early repayment of the Bond under the Causa Mortis procedure.

18. Maturity

The 62+ Malta Government Savings Bond – Issue 2025 shall be redeemed at par on the 21 July 2030.

​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 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 Bond will be a charge on the consolidated fund and other public funds of the Government of Malta.

21. Registration advice and other statements

Upon registration of the Bond, 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.

Bondholders should check the registration advice and report any discrepancies to the Accountant General immediately. Bondholders are responsible for keeping documents related to this Bond secure.

22. Prescription

Claims on this Bond will become prescribed unless presented for payment within six (6) 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 (6) years after the maturity date of the 62+ Malta Government Savings Bond – Issue 2025. 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 2025 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) (b) the Malta Government Retail Savings Bonds Regulations and (c) Budget Measures Implementation Act, 2025 (Act IX of 2025).

25. Jurisdiction

Exclusive place of jurisdiction for any legal proceedings arising under the 62+ Malta Government Savings Bond – Issue 2025 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: