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Government Notices published in Govt. Gazette No. 19,880 of 10 October 2017
01/01/2017
No. 1107
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 No. 19,876 of the 5th October, 2017 and No. 19,877 of the 6th October, 2017, respectively.
L.N. 262 of 2017: Income Tax Act (Cap. 123), Notional Interest Deduction Rules, 2017.
L.N. 263 of 2017: Regulator for Energy and Water Services Act (Cap. 545); Promotion of Energy from Renewable Sources (Amendment) Regulations, 2017.
L.N. 264 of 2017: Regulator for Energy and Water Services Act (Cap. 545), Authority for Transport in Malta Act (Cap. 499), Merchant Shipping Act (Cap. 234), Quality of Fuels (Amendment) Regulations, 2017,
L.N. 265 of 2017: Regulator for Energy and Water Services Act (Cap. 545); Biofuels (Sustainability Criteria) (Amendment) Regulations, 2017
L.N. 266 of 2017: Local Councils Act (Cap. 363); Local Councils (Procurement) Regulations, 2017.
L.N. 267 of 2017: Local Councils Act (Cap. 363); Local Councils (Procedures) (Amendment) Regulations, 2017.
L.N. 268 of 2017: Local Councils Act (Cap. 363); Local Councils Act (Amendment of the Sixth Schedule) Regulations, 2017.
L.N. 269 of 2017: Local Councils (Financial) (Amendment) Regulations, 2017.
L.N. 270 of 2017: Statute Law Revision Act, 1980 (Act No. IX of 1980); Correction of Laws Order, 2017 (Excise Duty Act, Cap. 382).
L.N. 271 of 2017: Statute Law Revision Act, 1980 (Act No. IX of 1980); Correction of Laws Order, 2017, Budget Measures Implementation Act, 2017 (Act XVI of 2017).
No. 1108
APPOINTMENT OF MEMBERS
OF THE WELFARE COMMITTEE
IN exercise of the powers conferred by Article 130 of the Social Security Act (Cap. 318) and for the purpose of that Act, the Minister for the Family, Children’s Rights and Social Solidarity has approved the following composition of the Welfare Committee, established by and under the aforesaid Act. These appointments are valid for one year with effect from the 2nd October, 2017.
Chairperson
Dr Joseph Fava
Members
Mr Mario Caruana
Mr Gaston Debono Grech
Mr Vince Ellul
Ms Claire Florian
Dr Anthony Gatt
Hon. Silvio Grixti, MP
Ms Silvana Mifsud
Hon. Clyde Puli, MP
Dr Zaid Teebi
Secretary
Mr Christian Borg
No. 1109
APPOINTMENT OF ACTING DIRECTOR
GENERAL (CUSTOMS)
THE Permanent Secretary in the Ministry for Finance has approved the following acting appointment:
NAMEPOSITIONDEPARTMENTDATE
Is-Sa Marisa HewerDirector GeneralCustoms15-18.10.2017
No. 1110
RELEASE OF LAND
Amendment
IT is hereby notified that, with reference to Government Notices Nos. 1103 and 1106 published in Government Gazette No. 19,878 dated 6th October, 2017, the file number of each Government Notice should read L320/86 and L320/86/II/10 respecively.
No. 1111
GENERAL PROSPECTUS
Malta Treasury Bills
This General Offering Memorandum has been issued by the Malta Treasury Department for the purpose of giving information with regard to the issue of Malta Treasury Bills issued by the Malta Government in terms of the Government Borrowing and Management of Public Debt Act (Cap. 575) and the Malta Treasury Bills Regulations, 2017. This General Prospectus should be read in conjunction with the Government Borrowing and Management of Public Debt Act, the Malta Treasury Bills Regulations, 2017 and the bye-laws relating to Malta Treasury Bills that may be issued from time to time by the recognised investment exchange where Treasury Bills are listed and traded (currently the Malta Stock Exchange).
This prospectus is being published in accordance with article 25 (2) of the Government Borrowing and Management of Public Debt Act.
This General prospectus for the issue of Treasury Bills is applicable and shall govern the issue of Treasury Bills with effect from 1st September, 2017 onwards.
Treasury Bills issued prior to 1st September, 2017 shall continue to be governed by the General prospectus issued under Government Notice 236 and published in the Government Gazette of the 20th March 2015.
1. Nature of Malta Treasury Bills
Treasury bills do not have a nominal interest rate. They are zero coupon securities typically issued at a discount and redeemed at par on the date of maturity. The interest is represented by the difference between the nominal value and the consideration paid on date of issue.
2. Treasury Bill Auctions of Standard Tenders
Treasury Bill auctions of standard tenders of Malta Treasury bills are normally held regularly on a weekly basis. Unless otherwise announced by the Accountant General, the auction is held every Tuesday.
When the auction date, or the settlement date or any day in between the auction date and the settlement date falls on a non-business day, the auction takes place on the first business day of the same week.
3. Indicative Issuance Calendar
An indicative issuance calendar for Treasury bills auctions of standard tenders is published by the Accountant General in the Government Gazette on a monthly basis. This indicative calendar shows the auction date, the issue date, the tenor, and the maturity date of each Treasury bill issue scheduled for the respective month. Such publication of the indicative issuance calendar shall be construed as a public invitation for the submission of applications for Treasury bills by the due date of the auction.
The Accountant General reserves the right to alter the tenor or other terms of the issue in the event of significant changes in market conditions, provided that notice in the Government Gazette will be given not less than three business days prior to the final date for submission of bids.
4. Issue Date
The issue date of Treasury bills allocated under standard tenders is Thursday (T+2). When the auction date, or the settlement date or any day in between the auction date and the settlement date falls on a non-business day, the issue date shall be on the second business day following the auction date (T+2).
5. Treasury Bill Tenors
(a) Treasury bill issues have a maturity of up to one year. The focus will be on the three-month (typically 91 days) tenor which constitutes the money market benchmark. In addition, Treasury bills will be issued with a tenor of one month (typically 28 days), six months (typically 182 days), nine months (typically 273 days) and one year (typically 364 days).
(b) The tenors being auctioned through the weekly standard tenders process will be published in advance in the monthly indicative issuance calendar in accordance with section (3) above.
6. Listing and Trading on the Malta Stock Exchange
Pursuant to the Financial Markets Act (Cap. 345) the Accountant General has made an application to the Listing Authority for Treasury bill issues to be listed and has also made an application to the Malta Stock Exchange for such Treasury bill issues to be admitted to trading on the Malta Stock Exchange.
7. Applications in the Primary Market
Standard tenders of Treasury bills in the primary market are open to the general public as well as corporate and non-corporate entities irrespective of the residency of the applicant.
8. Form of Applications in the Primary Market
Applications for Treasury bills in the primary market shall be in the form of bids which are to be made on the prescribed forms available at the Treasury. The applications are to be sent to the Treasury by fax on the fax number as indicated on the application form or by e-mail at the e-mail addresses indicated on the application form or deposited at the Treasury Tender Box. Such bids may be made directly to the Treasury or through financial intermediaries authorised to provide investment services by the Malta Financial Services Authority or by a foreign competent authority.
9. Minimum Bid Size
The minimum bid size for applications in the Treasury bill primary market in respect of standard tenders is €250,000 for 28-day bills and €50,000 for all other maturities. Bids above this minimum must be in multiples of €1,000. The Accountant General reserves the right to alter the minimum bid size.
10. Mode of Bidding
Each bid must state the nominal amount applied for and the bid yield. Only bids with a definite yield will be considered. The bid yield must be expressed in percent terms to three decimal places.
Applicants may submit bids at different yields but such bids at different yields must be made on separate application forms.
11. Auction Closing Time of the Standard Tenders
The deadline for submission of bids in the primary market for auctions of standard tenders is 10:00 AM (CET) of the prescribed tender date, normally Tuesday of the auction week or such other day as may be announced by the Accountant General. Such bids must reach the Treasury by the prescribed time by fax or by e-mail on the fax number and at the e-mail addresses indicated on the application form or deposited in the Treasury Tender Box.
12. Irrevocability of Bids
All applications will be irrevocable after closing time.
13. Allotment of Accepted Bids
Bids accepted at each maturity will be allotted in ascending order of yield, from the lowest yield to the highest accepted yield. Accepted bids will be allotted at the yield at which they are offered. For each maturity of bills on offer, bids which are at a yield below the highest accepted yield (i.e. the cut-off yield) will be allotted in full. Bids which are equal to the highest accepted yield may be allotted in full or in part. In the case of allotment in part, bids which are equal to the highest accepted yield will be allocated on a “pro rata” basis in accordance with the amount of each bid and the volume of bids remaining to be allocated. The bidder shall accept any portion of the sum for which he has tendered at the same yield as that for the whole amount he has tendered for.
The amount payable in respect of bills allotted will be calculated by using the following formula:
N
________________
Consideration payable =
1+ (Yield% x n)
360
Where: N = nominal value of T-Bills in Euro
n = number of calendar days from the settlement (issue) date up to the last day which immediately precedes the maturity date (both days inclusive) [tenor].
The resultant consideration shall be rounded to two decimal places, i.e. to the nearest cent.
The Accountant General reserves the right to:
(a) not to allot any Treasury Bills on offer without assigning any reason therefor; or
(b) to reject applications if the bidder has failed to comply with the terms and conditions in the general prospectus, or
(c) for any reason, whatsoever.
14. Notification of Auction Result
The persons whose tenders are accepted or rejected under auctions of standard tenders will be informed on the same day on which the auction is held.
15. Primary Market Settlement
a. Settlement of the amount allotted to each successful bidder participating in the auctions of standard tenders shall be effected on such terms as may be announced from time to time by the Accountant General. The value date shall be the issue date of the Treasury bill.
b. Settlement is to be effected by bank transfer, normally SWIFT, to the credit of the Public Account held at the Central Bank of Malta as indicated in the Letter of Acceptance. The Accountant General may request a copy of the relative bank transfer document as evidence that payment has been effected. The deadline for settlement of accepted bids under the auctions of standard tenders is 10.00 a.m. (CET) on the date of issue of the bills, that is on the second business day following the auction date (T+2).
c. If a successful bidder fails to settle the successful bid/s within the deadline stipulated in paragraph (b) of this article, the Accountant General may at his discretion cancel the unsettled bid/s without allotting further bids.
d. In the case where the Accountant General accepts payment after the due date a penalty may be charged for late settlement of the bill. Penalty is equivalent to an interest charge on the amount payable in respect of the period from the due date to the date of payment at a rate equal to Euro Interbank Offered Rate (Euribor) for 1 week deposits (1 week Euribor) + 0.75% per annum. The Accountant General will determine the Euribor rate by reference to the 1 week Euribor rate on the due date for payment obtained from the European Money Markets Institute (EMMI) (www.emmi.benchmarks.eu).
16. Ad hoc tenders
The Accountant General reserves the right that if circumstances so warrant an invitation will be issued to selected institutional investors to participate in a restrictive competitive ad hoc tender process. Bids for such ad hoc tenders have to be submitted on the same day within the prescribed time determined by the Accountant General in the invitation to tender document. Accepted bids in such ad hoc tenders must be settled within the prescribed time on the same day of the auction or such other day as may be specified in the invitation to tender.
17. Payment of Interest (Discount)
The payment of interest (that is, the discount from the nominal value) is effected on the redemption of the Treasury bill. The day count convention for the purpose of computing the Treasury bill yield rate is based on the actual number of days involved divided by 360 days (that is, Actual/360).
18. Redemption
Treasury bills are redeemed at par upon maturity. The nominal value of redeemed Treasury bills shall be payable to the registered holder as appearing in the Central Securities Depository operated by the Malta Stock Exchange to the person whose name appears first on the Central Securities Depository. Payment will be made by direct credit at the bank account nominated on the application form (in the case of primary market acquisitions) or the purchase form (in the case of secondary market acquisitions).
Treasury Bills issued by auction by standard tenders mature on the second business day following the auction date (T+2) occurring in that week which the T-Bill falls due for redemption.
In the event of a closure of the market on the redemption date due to unforeseen circumstances (such as a breakdown of the clearing and settlement system of the recognised investment exchange where Treasury bills are listed), payment will be effected on the following business day when the market reopens. In such a case, the registered Treasury bill holder will be duly compensated by the Treasury at the “use of funds” rate (equivalent to the yield rate of the maturing Treasury bill).
19. Buy-back Arrangements
At his discretion, the Accountant General reserves the right to redeem Treasury bills on a date prior to maturity through buy-back arrangements that may be negotiated on a voluntary basis between the Treasury and the respective Treasury bill holders.
The Accountant General reserves the right to determine whether such buy-back arrangements are to be offered to all Treasury bill holders through a public announcement or selectively on a bilateral basis.
20. Security
Proceeds of Treasury bills and interest thereon will be a charge on the consolidated fund and other public funds of the Government of Malta.
21. Governing Law and Jurisdiction
The relevant legislation under which Treasury Bills are being issued are (a) The Government Borrowing and Management of Public Debt Act (Cap. 575) and (b) the Malta Treasury Bills Regulations.
Any legal proceedings arising under this prospectus will be governed by and construed in accordance with the laws of Malta. The Courts of Malta will have exclusive jurisdiction in relation to any dispute that may arise out or in connection with Malta Treasury Bills issued under this prospectus.
22. Revisions
The Accountant General reserves the right to amend this prospectus from time to time. In such case, the Accountant General will endeavour to give adequate notice of any material changes. Any revisions made in this prospectus will be published by the Accountant General in such manner as the Accountant General considers appropriate.
23. Taxation
Whenever Treasury bills are issued at a discount, the difference between the purchase price of the Treasury Bill and the nominal amount received on the redemption date of the bill shall be deemed to be the interest at law for tax purposes. Resident persons for tax purposes can opt to receive interest gross and declare it in the income return or request the Accountant General to withhold the tax from the interest.
In terms of article 12 (1) (c) of the Income Tax Act (Cap. 123), Treasury Bill holders who are not resident in Malta satisfying the applicable conditions of the Income Tax Act are not taxable in Malta on the interest that is deemed to be payable under the Treasury Bill and will receive the interest gross, subject to the requisite declaration/evidence being provided to the Accountant General in terms of law.
24. Data protection clauses
The Accountant General may process the personal data that the holder may provide in the Application Form in accordance with the Data Protection Act (Cap. 440 of the Laws of Malta).
25. Contact Details
Investors can obtain further information on Malta Treasury Bills 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, Triq Sant’Anna, Floriana.
Telephone: 25967100 (General Line)
E-mail: (treasury.malta@gov.mt)
Website: (www.treasury.gov.mt)
No. 1113
NOTICE IN TERMS OF THE PRIVATE GUARDS
ACT NO. XIII OF 1996
AND LOCAL WARDENS ACT, 1996
THE Commissioner of Police, in terms of articles 7 and 8 of the Private Guards and Local Wardens Act, 1996, hereby notifies that the following applications as mentioned hereunder have been received:
Application for licence of a Local Warden
Isem u kunjomIndirizzNru. tal-Karta tal-Identità
Mark Anthony Bilocca 534771M Lay Lay Comp, Blk 3, Ent D, Flat 3, Triq Vittorio Cassar, Marsaskala.
Application for licence of Private Guards
Isem u kunjom Indirizz Nru. tal-Kartatal-Identità
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 Local Wardens Act, 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.
Gioacchina Borg | 40767M | 27, Our Lady Of Miracles, Triq Francesco Zammit, Ħad-Dingli |
Christian Borg | 289795M | 27, Our Lady Of Miracles, Triq Francesco Zammit, Ħad-Dingli |
Francis Mifsud | 56956G | Nadur Heights, Flat 21, Triq il-Madonna ta’ Fatima, In-Nadur, Għawdex |
Renald Agius | 20679M | Walnut, Flat 2, Triq il-Pont, Il-Mosta |
Ghulam Gilani | 177210A | Nummer Eins, Flat B, Triq il-Biżantini, Ix-Xlendi, Il-Munxar, Għawdex |
Evelyn Attard | 389943M | 8, Last, Triq il-Greċja, In-Naxxar |
Joseph Spiteri | 388077M | Dar il-Hena, Triq Il-Belt Valletta, Ħal Qormi |
Joseph Pace | 285656M | 38, Triq it-Taħħan, Birkirkara |
Alfred Vella | 153855M | 25, Casa Vella, Triq Ġanni Bonnici, Ħaż-Żebbuġ |
Rowin Bazan Cuartocruz | 124908A | 11, Rustica, Misraħ it-Tiġieġ, Birkirkara |
Josef Cutajar | 149379M | Sunrise, Triq Agostino Randon, Ħal Tarxien |
Josanne Attard | 131368M | 25, Blokk B, Falt 6, Triq il-Ġdida, Ħal Luqa |
Maria Louise Cachia | 522562M | 5, Sovereign Crt, Blk B, Falt 2, Triq il-Fikus, Ħ’Attard |
Rita Saliba | 553359M | 5, Triq id-Daħla Ta’ San Tumas, Iż-Żejtun |
Anthony Gerald Scinto | 124999M | 34, Aurora Crt, Flat 7, Triq Dun Salv Sciberras, Ħaż-Żabbar |
Johan Penza | 555178M | 2, Sqaq Sant’Andrija Nru. 1, Ħal Luqa |
Jean Pierre Farrugia | 99382M | 5, Triq Sant’Agata, Iż-Żurrieq |
Alan Ellul | 217370M | Blk 5, Bieb 1, Flat 7, Triq ix-Xatt, Il-Gżira |
Laurence Mamo | 343564M | Il-Midra, Il-Ħbula, Limiti ta’ Ħad-Dingli |
Mosbah Mohamed Oun | 129795A | Rose Crt, Flat 6, Triq San Mikiel, San Ġwann |
Tawfig Hemmali A. Mohamed Rahuma | 100695A | 6, Rabbi Mana, Triq In-Nigret, In-Naxxar |
Matthew Dimech | 187M | 28, Cleonora, Flat 2, Triq il-Fabbriki, Ix-Xgħajra |
Stephen Cilia | 501884M | 206, Triq Manwel Dimech, Tas-Sliema |
Romina Victoria Farrugia | 100777M | 8, Triq id-Duluri, Ħaż-Żebbuġ |
Anthony Micallef | 442076M | Howard Crt, Flat 3, Triq San Pietru, L-Imġarr |
Zoran Misovic | 173942A | 45, Zafriz Crt, Flat 3, Triq Sir Patrick Stuart, Il-Gżira |
Joseph Galdes | 142769M | Cavatina Crt, Flat 2, Triq Dun Ġwann Theuma, Ħ’Attard |
Doreen (Maria Dolores) Abdilla | 321672M | 1, Ġesù Redentur, Triq il-Bdoti, Il-Mosta |
Rita Cachia | 103865M | 9, Silvery Moon, Triq l-Imdawra, Iż-Żurrieq |
Dorde Sibalic | 171073A | 14, Flat 1, Triq il-Monsinjur Falzon, L-Imsida |
Priscilla Cassar | 301786M | 131, La Campanella, Triq tal-Ħamrija, Marsaskala |
Mark Borg | 415274M | Qalb ta’ Ġesù, Flat 1, Triq Għajn Tuta, Il-Fontana, Għawdex |
Ramon Vella | 154499M | 47, Triq Giovanni Barbara, Il-Ħamrun |
Christopher Schembri | 49271M | 7, Our Nest, Triq G. Grech Delicata, Birkirkara |
Joshua James Grixti | 446394M | Garganey Crt, Flat 2, Triq Patri Odorik Grima, Għajnsielem, Għawdex |
Francis Xavier Chircop | 742956M | 50, Micallef Bldg, Flat 4, Triq Karm Zerafa, Birkirkara |
Kevin Colombo | 417971M | 5, MonNid, Vjal l-Oleandri, Santa Luċija |
Emmanuel Spiteri | 262861M | 187, Pergola, Triq il-Gross, Marsaskala |
Francis Xerri | 397263M | 4, Aloha, Triq l-Artillerija, Ħal Kirkop |
Etienne Farrugia | 440674M | 55, Triq il-Kaħwiela, Santa Luċija |
Lawrence Vella | 785053M | 10, Mayflower, Triq Bacchus, Ħ’Attard |
Maria Cauchi | 19367G | 34, Triq iċ-Ċangar, Ir-Rabat, Għawdex |
Brandon Grech | 405595M | 78, Silver Pebbles, Triq il-Konvoj ta’ Santa Marija, L-Imqabba |
Daniel Attard | 12599M | Garden View Blk B, Flat 3, Vjal De La Cruz, Ħal Qormi |
Jhanesia Scicluna | 144380M | 31, Triq Beland, Iż-Żejtun |
Keith Cascun | 181380M | 2, Sunrise, Flat 2, Triq Pawlu Balzan, Ħaż-Żebbuġ |
Michael Briffa | 116598M | Olimpic Crt, Flat 10, Triq il-Mazzola, San Pawl il-Baħar |
Jonathan Bondin | 555782M | 13, Flat 1, Triq Mikiel Anton Vassalli, Il-Belt Valletta |
Raymond Azzopardi | 135360M | Blk 10, Flat 6, Triq il-Miġja tal-Papa, L-Isla |
Faustino Barbara | 311272M | 81, St Michael, Triq Sir William Ried, Il-Gżira |
No. 1114
GOLDSMITHS AND
CAP. 46
SILVERSMITHS
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
10.10.2017€35.137€0.486