Go Back
Government Notices published in Govt Gazette No. 18,956 of the 21st August, 2012
01/01/2012
No. 865
LEGAL NOTICES PUBLISHED IN THE SUPPLEMENT TO THE GOVERNMENT GAZETTE
IT is notified for general information that the following Legal Notices were published in the Supplement to the Government Gazette Nos. 18,954 and 18,955 of the 14th and the 17th August, 2012, respectively.
L.N. No. 269 of 2012: Administrative Justice Act (Cap. 490); Assistants (Remuneration) (Amendment) Order, 2012.
L.N. No. 270 of 2012: Pesticides Control Act (Cap. 430); Biocides (Amendment) (No. 2) Regulations, 2012.
L.N. No. 271 of 2012: Plant Quarantine Act (Cap. 433); Examination of Varieties of Agricultural Plant Species (Amendment) (No. 2) Regulations, 2012.
L.N. No. 272 of 2012: European Union Act (Cap. 460); Commercial Code (Amendment) Order, 2012.
L.N. No. 273 of 2012: Budget Measures Implementation Act (Act No. V of 2012); Local Loans (Registered Stock and Securities) Ordinance (Cap. 161); Directive by the Minister of Finance, the Economy and Investment for the Issue of Euro 50,000,000 Malta Government Stocks.
No. 866
Appointment of Electoral Commissioners
IT is hereby notified for general information that the President of Malta, acting on the advice of the Prime Minister, in accordance with the provisions of Article 60 of the Constitution of Malta and Article 7(2) of the General Elections Act, 1991, has appointed the following persons to be members of the Electoral Commission under the Chairmanship of the Chief Electoral Commissioner:
Dr Joseph Mary Buttigieg
Mr Mario Callus
Mr Vanni Ganado
Mr Salvu Sant
Mr Joseph Scicluna
Mr Tony Sultana
Dr Raymond Zammit
Dr Joseph Zammit Maempel
These appointments are for a period of three years with effect from 30th August, 2012.
No. 867
Foreign Honours and Decorations
It is hereby notified that in terms of Article 29(1) of the Ġieħ ir-Repubblika Act, 1975, the President of Malta, acting on the advice of the Prime Minister, has authorised the appointment of Mr Karl Marius Gollcher as Knight of the Order of Dannenborg 1st Class.
16th July 2012
No. 868
NOTARIAL PROFESSION AND NOTARIAL ARCHIVES ACT (CAP. 55)
Appointment of Notary Delegate/Keeper
It is hereby notified that, in exercise of the powers conferred by Article 20 of the Notarial Profession and Notarial Archives Act, the Court of Revision of Notarial Acts by means of a decree dated 26th July, 2012, has appointed Notary Dr Daniela Mercieca, B.A., LL.D., to be Notary Delegate/Keeper for Notary Dr. Peter Fleri-Soler, LL.D., during the latter’s absence from these Islands from the twenty-sixth July of the year two thousand and twelve (26/7/2012) till the thirty-first of July of the year two thousand and twelve (31/7/2012).
Today, 26th July, 2012.
Mario Mifsud, B.A., D.L.I.S.,
F/Registrar, Court of Revision of Notarial Acts
No. 869
PUBLIC GARDENS (Closing) ORDINANCE (CAP. 34)
Argotti Gardens
It is notified for general information that as enabled by Article 2 of the Public Gardens (Closing) Ordinance (Cap.34) the Ministry for Resources and Rural Affairs has approved that on Tuesday, 11th September 2012, from 4.00 p.m. onwards the Argotti Gardens will be closed to the public and will be under the control of the Ministry for Justice, Dialogue and the Family.
No. 870
APPOINTMENT OF ACTING DIRECTOR/REGISTRAR Civil courts and civil Tribunals
THE Permanent Secretary in the Ministry for Justice, Dialogue and the Family has approved the following acting appointment:–
NAMEPOSITIONDEPARTMENTDATE
Mr Joseph SaccoDirector/RegistrarCourts of Justice03 –23.09.2012
Civil Courts and (Malta)
Civil Tribunals
No. 871
Resumption of duties of Director General (Commerce)
Mr Godwin Warr, Director General (Commerce), resumed duties on the 17th August, 2012, and the arrangements referred to in Government Notice No. 829 of the 3rd August, 2012, are hereby repealed.
No. 872
GOLDSMITHS AND SILVERSMITHS
CAP. 46
ACT
THE Commissioner of Inland Revenue notifies that on the date shown hereunder, the price of gold and silver on which valuations made by the Consuls for Goldsmiths and Silversmiths are based has been fixed for the purposes of article 14 of the said Act as follows:–
DatePure GoldPure Silver
GramsGrams
21. 08. 2012€42.496€0.765
No. 874
PROSPECTUS
Issue of an Aggregate of Euro 50,000,000 Malta Government Stocks
Subject to an Over-Allotment Option of Euro 25,000,000 in the event
of over-subscription
Authorised under the Budget Measures Implementation Act, 2012
(Act No. V of 2012) and the Local Loans
(Registered Stock and Securities) Ordinance, Cap. 161
1. ISSUANCE OF STOCK
The Accountant General is offering an aggregate Euro 50,000,000 of Malta Government Stocks which are being offered and made available in any one or any combination of the following Stocks:
(i) Floating Rate Malta Government Stock 2017 (V) linked to the six-month Euribor, and
(ii) Floating Rate Malta Government Stock 2018 (IV) linked to the six-month Euribor.
2. BIDS
a) Applications in the form of sealed bids (auction) open at 8.30 a.m. on Wednesday 29th August, 2012 and close at noon on Friday 31st August, 2012 or earlier at the discretion of the Accountant General.
b) Applications by any single applicant shall be in the form of sealed bids for a minimum of €250,000 and multiples of €50,000 each.
c) Bids on the prescribed application forms are to be deposited at the Treasury Tender Box or transmitted by fax on 2596 7210 or by e-mail at the e-mail addresses indicated on the application forms.
d) Application forms may be obtained from all Members of the Malta Stock Exchange, other authorised Investment Service Providers or downloaded from Treasury’s website (www.treasury.gov.mt).
e) Applications in the name of ‘Nominee a/c’ and/or ‘Clients a/c’ will only be accepted if accompanied by a list showing the identity card number or in case of a body corporate, the relevant identification number of their respective clients.
f) All applications will be irrevocable after closing time.
3. CLEARING FACILITIES
(a) MaltaClear
Clearing and settlement of transactions in Malta Government Stocks traded on the Malta Automated Trading System (MATS) are effected through MaltaClear in accordance with Chapter 7 of the Malta Stock Exchange Bye-Laws.
(b)Clearing (FOP) through Clearstream – MSE Access Link
(i) Applicants may also avail of the clearing facility (FOP) provided through the Malta Stock Exchange plc (MSE) – Clearstream Banking AG – Frankfurt (CBF) Access Link as direct customers of CBF or Clearstream Banking SA, Luxembourg (CBL), or indirectly by being capable of clearing through CBF/CBL via another central securities depository or international central securities depository (‘other CS/ICSD’) linked to CBF/CBL.
(ii)The Accountant General shall cancel any allotment of stock to any institution claiming to be CBF/CBL customers or otherwise capable of clearing via CBF/CBL, but which are rejected by Clearstream for any reason whatsoever in the process of registration. Once a subscription is rejected, the Accountant General shall refund the subscription proceeds and transfer funds in the bank account notified on the bid form. No interest shall be paid in respect of the period from the receipt of payment at Central Bank of Malta to the date of receipt of refund.
4. ALLOTMENT POLICY OF STOCK
Allocation of Stock will be made in the following order:
a) Bids will be allotted in descending order of price.Accepted bids will be allotted at the bid price.Bids above the lowest accepted price (the cut-off price) will be allotted in full.Bids equal to the lowest accepted price will be allotted in full or in part on a pro rata basis. The applicants will be informed of the allotment result of each stock within two hours immediately after the closing time of applications by auctions.
b) Any amount allotted to the Government Funds will be at the cut-off rate.
5. OVER-ALLOTMENT OPTION
The Accountant General reserves the right to exercise an over- allotment option for an additional amount of € 25,000,000.
6. UNDERISSUANCE
The Accountant General reserves the right to accept bids for the full amount or any part thereof and to reject any bid or part thereof on any grounds whatsoever, notwithstanding that the amount on issue has not been taken up.
7. INTEREST RATE AND INTEREST DETERMINATION DATES
a) The initial interest rate in respect of the Floating Rate Malta Government Stock 2017(V) linked to the six-month Euriboris equal to the six-month Euribor, in effect two (2) business days prior to the settlement (issue) date of this Stock as displayed on the Reuters page EURIBOR01 for 6 Month Euribor at or around 111H00 CET at (www.reuters.com), plus a spread of 90 basis points (bps).
b) The spread of 90bps shall remain fixed until maturity of the Floating Rate Malta Government Stock 2017 (V) linked to the six-month Euribor.
c) The initial interest rate in respect of the Floating Rate Malta Government Stock 2018 (IV) linked to the six-month Euriboris equal to the six-month Euribor, in effect two (2) business days prior to the settlement (issue) date of this Stock as displayed on the Reuters page EURIBOR01 for 6 Month Euribor at or around 11H00 CET at (www.reuters.com), plus a spread of 110 basis points (bps).
d) The spread of 110bps shall remain fixed until maturity of the Floating Rate Malta Government Stock 2018 (IV) linked to the six-month Euribor.
e) The initial interest rate in respect of each Stock mentioned at paragraphs 7 (a) and 7 (c) above will be announced to the Malta Stock Exchange and published through a press release by the Department of Information two (2) business days prior to the settlement date.
f) The initial interest rate in respect of each Stock mentioned at paragraphs 7 (a) and 7 (c) above will be applied for any secondary market transactions for the calculation of any accrued interest from the settlement (issue) date up to, but not including, the first interest payment date. Thereafter, the interest rate applied for the calculation of accrued interest of each stock will correspond to the relevant interest rate as reset, under paragraphs 7 (g) and 7 (h) below, each time prior to the beginning of the applicable six monthly interest period.
g) After the initial interest period, the interest rate of the Floating Rate Malta Government Stock 2017 (V) linked to the six-month Euribor will be reset semi-annually in accordance with the applicable six-month Euribor rate in effect on the applicable interest determination date, which is two (2) business days prior to 5th March and 5th September of each year, plus a spread of 90bps.
h) After the initial interest period, the interest rate of the Floating Rate Malta Government Stock 2018 (IV) linked to the six-month Euribor will be reset semi-annually in accordance with the applicable six-month Euribor rate in effect on the applicable interest determination date, which is two (2) business days prior to 5th March and 5th September of each year, plus a spread of 110bps.
i) In case EURIBOR is not available on account of market disruption the last available EURIBOR rate available before such disruption shall apply.
8. PAYMENT OF DIVIDENDS (INTEREST)
a) Floating Rate Malta Government Stock 2017 (V) linked to the six-month Euribor will bear interest on the nominal value at par (100.00) at an interest rate linked to the six-month Euribor in effect on the applicable interest determination date, plus a spread of 90bps.
b)Dividend (interest) is payable half yearly in arrears on the 5th March and 5th September of each year during the tenor of the Floating Rate MaltaGovernment Stock 2017 (V) linked to the six-month Euribor.
c) Floating Rate Malta Government Stock 2018 (IV) linked to the six-month Euribor will bear interest on the nominal value at par (100.00) at an interest rate linked to the six-month Euribor in effect on the applicable interest determination date, plus a spread of 110bps.
d) Dividend (interest) is payable half yearly in arrears on the 5th March and 5th September of each year during the tenor of the Floating Rate MaltaGovernment Stock 2018 (IV) linked to the six-month Euribor.
e) Interest on both Stocks mentioned at paragraphs 8 (a) and 8 (c) above for each period will be based on Day Count Fraction of Actual/360.
f) The first dividend (interest) payment of each Stock covering the period from 5th September, 2012 the settlement (issue) date and 4th March, 2013 (both dates inclusive) will be made on the 5th March, 2013at the initial interest rate as determined under paragraphs 7 (a) and 7 (c) above.
g) Payment of dividend (interest) will be made by direct credit to any branch of any local bank as advised on the application form.
9. FUNGIBILITY
The Accountant General reserves the right to issue, in future, additional amounts of each of the present Stock in further tranches. In the event of such further issues these will be integrated with the respective existing Stock.
10. REDEMPTION OF STOCK
(i) The Floating Rate Malta Government Stock 2017 (V) linked to the six-month Euribor shall be redeemed at par (100) on the 5th September, 2017.
(ii) The Floating Rate Malta Government Stock 2018 (IV) linked to the six-month Euribor shall be redeemed at par (100) on the 5th September, 2018.
11. SECURITY
The Stock and dividend (interest) thereon will be a charge on the General Revenue and Assets of the Government of Malta.
12.TRADING ON THE MALTA STOCK EXCHANGE
Pursuant to the Financial Markets Act, Cap. 345, an application has been submitted to the Listing Authority for the bonds to be admissible to listing and to the Malta Stock Exchange for the bonds to be admitted to its Official List.
13. RELEVANT LEGISLATION
The Budget Measures Implementation Act, 2012 (Act No. V of 2012), the Local Loans (Registered Stock and Securities) Ordinance, Cap. 161, and Directive by the Minister of Finance, the Economy and Investment under articles 4 (1) (a) and 6 (1) of the said Ordinance, the Local Loans (Registered Stock) Regulations, 1959.
Note: The value of the investment may go up and/or down during the tenor of the stock.