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Government Notices published in Govt. Gazette No. 19,031 of the 15th February 2013
01/01/2013
No. 113
RELEASE OF LAND
THE following declaration made by the President of Malta under article 3 of the Land Acquisition (Public Purposes) Ordinance (Cap. 88) is published in terms and for the purposes of section 9(1) thereof.
Declaration OF the President of Malta
Whereas by Governor’s Declaration dated 30th June, 1959 and published in the Government Gazette of the 17th July, 1959 under Notice No. 426, the Governor had declared that premises No. 52, Triq l-Irlandiżi, Vittoriosa, is required by the competent authority for public purposes in accordance with the provisions of the Land Acquisition (Public Purposes) Ordinance (Cap. 88) and whereas part of this premises is no longer so required, I hereby declare for all intents and purposes of law, that the undermentioned premises is no longer required by the competent authority for a public purpose in accordance with the provisions of the aforementioned Ordinance.
Description of the Land
The following premises at Vittoriosa:-
A plot of land of the area of about 21 square metres, which forms part of the premises previously No. 52, Triq l-Irlandiżi (nowadays known as Triq il-Kardinal, corner with Triq Wenzu Dyer).
The abovementioned land is shown marked with the colour red and indicated as plot with the letter B on planL.D. 224/99, which may be viewed on demand at the Land Department, Auberge de Baviere, Valletta.
(Sgd) George Abela
President
No. 114
BOARD OF VISITORS FOR DETAINED PERSONS
It is hereby notified for general information that, according to Legal Notice No. 266 of 2007 published with the Government Gazette of the 18th September, 2007, the Board of Visitors for Detained Persons has been constituted as follows for another six months with effect from 1st January, 2013.
Chairperson
Ms Mary Anne Agius
Members
Mr Joseph C Borg
Ms Susan Sacco Mulvaney
Dr Frank Cassar, LL.D.
Member/Secretary
Mr Charles Micallef
No. 115
Commissioner of Land
Assignment of Duties
It is hereby notified that in terms of Article 3 (1) of the Commissioner of Land Ordinance (Cap. 169), the Minister of Fair Competition, Small Business and Consumers, with effect from 15th February 2013, assigns the hereunder mentioned duties to the indicated persons:
Ms Vera Lungaro MifsudSenior Legal Procurator
Mr Alan SciclunaSenior Legal Procurator
Mr Anthony TheumaLegal Procurator
Mr John GaleaLegal Procurator
Signing of contracts in respect of Joint Office Property, and other contracts relating to conversion of emphyteusis and redemptions of perpetual emphyteusis.
Ms Elaine Farrugia (I.D. 145767M) – Assistant Principal – signing and taking oaths in respect of declarations made according to Article 466, Cap. 12 concerning debts due to the Department
No. 116
MALTA ENVIRONMENT AND PLANNING AUTHORITY
Notification of Exemption of Environmental Planning Statement
In conformity with Regulation 3(8) of the Environmental Impact Assessment Regulations (Legal Notice 114 of 2007), and in view of the fact that MEPA has determined that the proposal is unlikely to have significant environmental impacts, the Director of Environment Protection agrees that the proposal does not require the preparation of an Environmental Planning Statement (EPS).
The Project Description Statement (PDS) presented as part of the application has considered the environmental issues in a sufficient manner such that the preparation of an EPS would not add any new information and MEPA has all the necessary information to determine the application. From the information presented in the PDS and screening according to Schedule IB of the same Regulations, the proposal is not likely to have significant environmental effects.
A detailed justification is presented below:
Reference Number: PA 07802/06
Location: Disused quarry off Triq Ta’ Wied Ħanżira, Wied Xkora, Siġġiewi
Proposal: Restoration of a disused quarry to agricultural land.
The following potential environmental impacts were identified and mitigation measures proposed in the Project Description Statement (PDS) submitted to MEPA on the 24th August, 2011 and the justification for proposal from carrying out an Environmental Impact Assessment (EIA) submitted on 17th December, 2012.
Potential ImpactRemarks on mitigation measures
DustAll practical measures will be taken to reduce dust emissions. Deposition
of soil will only be carried out between April and June and/or between
September and December, thereby avoiding the dry season. Rainy and windy
days will also be avoided. Standard permit safeguards will also be adopted.
Noise and vibration The proposed works will be located within a quarry, and thus significant noise
and vibrations are not envisaged. Noise abatement measures in accordance
with the Construction Site Management Regulations, 2007 shall further
minimize the impact.
Water contaminationAn environmental permit will be required in order to ensurethat only inert waste
is used for infilling the quarry, thus avoiding risks of water contamination.
Notwithstanding the above, the Malta Environmental and Planning Authority reserves the right to request the applicant to submit additional information as may be necessary to determine the application.
No. 117
PROSPECTUS
Issue of an Aggregate of Euro 120,000,000 Malta Government Stocks
Subject to an Over-Allotment Option of Euro 80,000,000 in the Event of
Over-subscription
Authorised under the Local Loans
(Registered Stock and Securities) Ordinance, Cap. 161
1. ISSUANCE OF STOCK
The Accountant General is offering an aggregate Euro 120,000,000 of Malta Government Stocks which are being offered and made available in any one or any combination of the following Stocks:
(i) 3% Malta Government Stock 2019 (III), and
(ii) 4.5% Malta Government Stock 2028 (II).
2. APPLICATIONS
a) Applications open at 8.30 a.m. on Monday 25th February, 2013 and close on the time and dates as hereunder, or earlier at the discretion of the Accountant General:
(i) at 5.00 p.m. on Wednesday 27th February, 2013 for applications by any single and/or joint applicants which in the aggregate do not exceed Euro 100,000 per person, and
(ii)at noon on Friday1st March, 2013 for applications in the form of sealed bids (auction) under paragraphs 2(e) and 2(f).
b) All applications are to be made in multiples of €100 on the prescribed form.
c) Application forms may be downloaded from Treasury’s website (www.treasury.gov.mt) or obtained from, and lodged at, all Members of the Malta Stock Exchange and other authorised Investment Service Providers.
d) Applications by any single and/or joint applicants, which in the aggregate must not exceed €100,000 per person in any or each of the twoStocks, shall be at a price to be established for each Stock. Such Offer Price for each Stock will be announced to the Malta Stock Exchange and published in daily local newspapers three (3) days prior to opening of the applications. Applicants under this category are precluded from bidding also under paragraphs (e) and (f) below.
e) Applications by any single applicant, which in the aggregate are over €100,000, but do not exceed €500,000 in any or each of the two Stocks, shall be in the form of sealed bids for a minimum of €100,100 each. Applicants under this category are precluded from applying also under paragraphs (d) and (f).
f) Applications by any single applicant, which in the aggregate exceed €500,000 in any or each of the two Stocks, shall be in the form of sealed bids for a minimum and multiples of €500,000 each. Applicants under this category are precluded from applying also under paragraphs (d) and (e).
g) Bids on the prescribed forms are to be deposited at the Treasury Tender Box - Floriana or transmitted by fax on 2596 7210 or by e-mail at the e-mail addresses indicated on the application forms.
h) Applications by minors will only be accepted if signed by a legal guardian.
i) Applications in the name of ‘Nominee a/c’ and/or ‘Clients a/c’ will only be accepted if accompanied by a list showing the identity card number, or in case of a body corporate, the relevant identification number of their respective clients. The amount applied for by any single person, and/or two or more persons as joint applicants, listed under the ‘Nominee a/c’ and/or ‘Clients a/c’ must not exceed €100,000 per person in any or each of the two Stocks.
j) All applications will be irrevocable after closing time.
3. CLEARING FACILITIES
a) MaltaClear
Clearing and settlement of transactions in Malta Government Stocks traded on the Malta Stock Exchange Trading Systemare effected through MaltaClear in accordance with Chapter 7 of the Malta Stock Exchange Bye-Laws.
b) Clearing (FOP) through Clearstream – MSE Access Link
(i) Applicants under paragraphs 2 (e) and (f) above, may also avail of 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) applications by auction will be considered after applications at the Offer Price per €100 nominal are exhausted.
b) In the event that the original sum on issue is over-subscribed, the Treasury reserves the right to:
(i) exercise the over-allotment option at paragraph (5) by issuing further stocks; and
(ii)first allocate and satisfy the applications to applicants falling under paragraph (2) (d).
c) In case that notwithstanding the exercise of the over-allotment option there still remains applications which are unsatisfied, then the Treasury will scale down applications as deemed appropriate.
d) Bids at the last rate accepted for each Stock by more than one applicant will be allotted in proportion to the amount of the bids for each respective Stock. The allotment results of each Stock to applicants whose applications are in the form of sealed bids (auction) will be determined and announced within two hours immediately after the closing time of applications by auction.
e) Any amount allotted to the Government Funds will be at the cut-off rate.
5. OVER-ALLOTMENT OPTION
The Accountant General reserves the right to exercise an over-allotment option for an additional amount of €80,000,000.
Refunds of applications, which are not wholly allotted, will be effected before the issue of the relevant Registration Advices. Such refunds will be paid by direct credit in the account indicated in the respective application form for the payment of dividend (interest).
6. UNDERISSUANCE
The Accountant General reserves the right to accept bids for the full amount or any part thereof and to reject any bid or part thereof on any grounds whatsoever, notwithstanding that the aggregate amount on issue has not been taken up.
7. PAYMENT OF DIVIDENDS (INTEREST)
Dividend (interest) is payable half yearly in arrears on the:
a) (i) 22nd day of March and the 22ndday of September during the tenor of the 3% Malta Government Stock 2019 (III);
(ii) 25th day of April and the 25th day of October during the tenor of the 4.5% Malta Government Stock 2028 (II).
b) (i)In the case of accepted applications submitted by members of the public under paragraph 2 (d) in respect of the 3% Malta Government Stock 2019 (III), the first pro rata dividend (interest) payment covering the period from the 1st March, 2013, (the issue date) to the 21stSeptember, 2013 (both dates inclusive) will be made at the rate of 1.674033 per cent on the 22nd September, 2013;
(ii) in the case of accepted bids/applications submitted by institutional investors under paragraphs 2 (e) and (f) in respect of the 3% Malta Government Stock 2019 (III), the first pro rata dividend (interest) payment covering the period from the 6th March, 2013 (the issue date) to the 21st September, 2013 (both dates inclusive) will be made at the rate of 1.632597 per cent on the 22nd September, 2013;
(iii) in the case of accepted applications submitted by members of the public under paragraph 2 (d) in respect of the 4.5% Malta Government Stock 2028 (II), the first pro rata dividend (interest) payment covering the period from the 1st March, 2013 (the issue date) to the 24th April, 2013 (both dates inclusive) will be made at the rate of 0.679945 per cent on the 25th April, 2013;
(iv) in the case of accepted bids/applications submitted by institutional investors under paragraphs 2 (e) and (f) in respect of the 4.5% Malta Government Stock 2028 (II), the first pro rata dividend (interest) payment covering the period from the 6th March, 2013 (the issue date) to the 24th April, 2013 (both dates inclusive) will be made at the rate of 0.618132 per cent on the 25th April, 2013;
c) Payment of dividend (interest) of each Stock will be made by direct credit to any branch of any local bank as advised on the application form.
8. FUNGIBILITY
The Accountant General reserves the right to issue, in future, additional amounts of each of the present Stock in further tranches. In the event of such further issues these will be integrated with the respective existing Stock.
9. REDEMPTION OF STOCK
(i) The 3% Malta Government Stock 2019 (III) shall be redeemed at par on the 22nd September, 2019.
(ii)The 4.5% Malta Government Stock 2028 (II) shall be redeemed at par on the 25th October, 2028.
10. SECURITY
The Stock and dividend (interest) thereon will be a charge on the General Revenue and Assets of the Government of Malta.
11. TRADING ON THE MALTA STOCK EXCHANGE
a) Pursuant to the Financial Markets Act, Cap. 345, an application has been submitted to the Listing Authority for the bonds to be admissible to listing and to the Malta Stock Exchange for the bonds to be admitted to its Official List.
b) On the 22nd September, 2013, after the payment of the first dividend (interest) as indicated in paragraphs 7 (b) (i) and 7 (b) (ii), any amount allotted under the 3% Malta Government Stock 2019 (III) shall be integrated and thereafter both shall be deemed to be one Stock.
c) On the 25th April, 2013, after the payment of the first dividend (interest) as indicated in paragraphs 7 (b) (iii) and 7 (b) (iv), any amount allotted under the 4.5% Malta Government Stock 2028 (II) shall be integrated and thereafter both shall be deemed to be one Stock.
12. COLLECTIVE ACTION CLAUSES (CACs)
(a) Pursuant to the decision of the European Council of 24-25th March 2011, and in accordance with Paragraph 3 of Article 12 of the European Stability Mechanism (ESM) Treaty, the model Collective Action Clauses (CAC) became mandatory in all new euro area government securities with maturity above one year issued on or after 1st January 2013.
(i) Pursuant to the provisions contained in the CACs, the Accountant-General may, at any time, convene a meeting of stockholders to consider and approve any modifications of the borrowing terms and conditions of the Stock on issue.
(ii) The modifications that may be carried out are of two types: (1) A ‘reserved matter’ modification, involving the modification of the most important terms and conditions of this Stock, such as a reduction in the principal or interest payable on this Stock, or changes in the dates when interest is payable or Stock is redeemable, or change the definition of a ‘reserved matter’; and (2) A ‘non-reserved matter’ modification, involving the modification of less important terms and conditions other than a reserved matter.
(iii) Under the CAC, a modification may be proposed in relation to either a single stock, a so-called single-series modification, or to more than one stock at the same time, a so-called cross series modification.
(iv) Modification of Stock in relation to a ‘reserved matter’ shall require the affirmative vote of stockholders of not less than 75% of the aggregate principal amount of the outstanding stock represented at a meeting duly convened, or not less than 66 2/3% of the aggregate principal amount of the outstanding stock in the case of written resolution.
(v) In relation to a ‘non-reserved matter’ modification, the affirmative vote of stockholders of more than 50% of the aggregate principal amount of the outstanding stock represented at a meeting duly convened, or of more than 50% of the aggregate principal amount of the outstanding stock in the case of written resolution, is required.
(vi) In all events, a proposed modification shall require the consent of the Accountant-General and, if approved, shall be binding for all stockholders.
(b) Notice of Meetings of Stockholders shall be published by the Accountant General at least 21 days prior to the date of the meeting or, in the case of an adjourned meeting, at least 14 days prior to the date of the adjourned meeting. The notice shall, amongst other matters, (i) specify the date, time and location of the meeting; (ii) set out the agenda and quorum for, and the text of any resolutions proposed to be adopted; and (iii) set out any additional rules adopted by the Accountant General and, if applicable, the conditions under which a cross-series modification will be deemed to have been satisfied if it is approved as to some but not all the affected series of debt securities.
(c) The Chair of any meeting of stockholders will be appointed by the Accountant General; or if such person nominated is not present at the meeting, by the holders of more than 50% of the aggregate principal amount of the Stocks then outstanding represented at the meeting.
(d) The Accountant General shall publish, without undue delay, all notices and other matters required to be published pursuant to Stockholders Meetings and Written Resolutions:
(i) on the Treasury’s website: www.treasury.gov.mt;
(ii) through the Malta Stock Exchange;
(iii) Malta Government Gazette.
(e) The Collective Action Clauses (CACs), as agreed upon by the Member States of the European Union at its summit held on 24-25 March 2011, and in accordance with Paragraph 3 of Article 12 of the European Stability Mechanism (ESM) Treaty, can be found on the Treasury website www.treasury.gov.mt under the section reserved for the Debt Management Directorate.
Note: The above paragraph on the Collective Action Clauses (CACs) contains summarized information taken from the Model Collective Action Clauses (CAC). All potential applicants are solicited to access the detailed CACs which can be found on the Treasury website, and any decision to invest in the Stock/s should be based on consideration of the Prospectus as a whole.
13. RELEVANT LEGISLATION
The Local Loans (Registered Stock and Securities) Ordinance, Cap. 161, and Directive by the Minister 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.
No. 118
CONDOMINIUM ACT
Cap. 398
Notice is hereby given that I have received an application for the registration of and/or amendment to rules regulating the following condominia:-
Condominium NumberAddress of CondominiumRemarksDate of Registration
834‘Salina Mansions’Registration08/02/2013
Blokk ‘B’of Rules
Triq is-Salina,
Naxxar
835Block 210Registration01/02/2013
Triq Manuel Dimech,of Rules
Sliema
Dr Keith Francis German, LL.D.
Land Registrar
No. 119
GOLDSMITHS AND SILVERSMITHS ACT
CAP. 46
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
15. 02. 13€39.649 €0.768