XIII tal-1983

I asseDt.

(L.S,)

A G.n H ... B ... RIlARlI

15th July. 1983

ACT No, XIII of 198]

A N A CT f"rl"~r 10 amem/llle CeM/raJ Bank of Ma/la ACI, 19<J7, ""d 10

make ronscqueM/la/ amendmelllS in Ollt" Jaw •.

BE IT ENACTED by tlte Presiden t. by and with the advIce and

ronseDt of ,he House of Representatives. in this present Parliament

assembled. and by the authority of the same. IS foll0'0\"S:-

I. This Act may be <;ite(! I S the Central Bank 01 Mal", <Amend.

ment) Act. 1983. and shall be read and COMtruro as one with the Centra l

Bank of Malta Act. 1%7. heleillllftu referred to as " the principal Act".

għandu jidħol

il-fubarli kolu li ġej

"( 4) Fil'ht la' usenu temporanja lant lal-Gvernalur

kemm IlId·Oepuull Gvemalur, il·Presidenl, luq il.parir tal·Prim

MinUlru. jisla' jinnomina d ifenur jew utrltjal anzjan tal·Bank biu

jaġiui In' Gvemat ur malul dak il.perijod u In' nsseru:a u, jekk ma

$Sirx dik in·nomina. il-General Ma nager lal·Bank ghandu jaġiu i

bħala Gvernllur matut da k it·perijodu,",

For subsection (4~ of iCCtlon 8 of the principal Act there shall " _ _ , of

be substituted the following 5Ubsection

In the event of !he temporary absence of both the

"14 ~

Governor and the Deputy Govel1\Of", the President, acting 011 !he

advice: of the Prime Minister. may desi8llale a director or I senior

offidal of tlte Bank \0 a ct IS GovCI1\Of". durin& such period or

absence: and. where no soch desigllltion is made. the General

Manaler oftlte Bank shall act IS Govel1\Of" during that period.M,

J . Section IS of the principal Act shall have clfect subject 10 !he "

following amendments

la) for paralJ1lpfl (cl tbereof tbere shall be substituted the fol·

lowing paragraph

" (c) subject to the provisions of wbs.ectioN (2) and (3)

of this 5«tion. purchase or sell gold or siLver eoin or JOId.

silver or other precious metal in b\llIion form;" ;

Ib) for paragraph (h) therrof there , hall be sub$tituted the fol.

lowing paraVlph

"(h) subscribe to, plU"l;haM: and sell lbaru, bonds 01'

debentures of any body COIpofale in Malta established by law

or sponsored by, or set up under Ihe luthority of. the Govern-

ment, or of such otller body corporate u is Ippmved by the

Min ister. for the purpose of promoting or finAncing develop-

ment in M ~IUl or for the purpose: of promollng the develop-

ment of • money marktt or a securities market in Malta

Provided Ihat tile total inveslments under this paragraph

shall not exceed Iht: Special Reserve Fund established by tile

Bank under 5«tion SO of th is Act;";

llIe 5ttt ion. as amended. 5ha ll be rc.-numbered as sub-

(d

section 0);

(d) al the end of the s.ection, ai re-numbered, there sha!1 be

added the following new subsections

The Bank shall endeavour 10 hold gold bullion

~rn

hav;nS a CUITent market value (redr.oned a t the end of

each month at lhe aVl:rase London fi~ing pnce6 during such

monlh) not inferior to tile value of the Bank', notes and coins

issued, ududins coins issued for numismatic purposes;

and "hen Ihe amount of gold bullion held by the Bank has

reached SOO.OOO tray oonccs. tile Bank', boIding of gold bul-

lion shall 1101 be reduced below that quantity.

01 NOIwilhsianding the provisions of subsection rn of

this section _

lil the Bank may sell gold bunion purcbased after

l.~t July, 1983. provided tile price at which any quantity

is sold is not Ia;s than the price at which the gold ... as

purchased after sucb date and the proc:-ceds of any such

sale is pbcc:d in a separate acrount and used 501ely for

the purchase of gold hulli<m; and

(ii) "'here tile Bank boIds gold bullion in excess of

SOO,OOO tray ounces. it may deal in such ucess as il may

deem appropri.a«o.

(4) For the pulpOliCS of subsct:tioos (2) and 0) of this

$C:(:tion all values and all oomparisons between pnca wll be

calculated in Maltese Un ....

" For subsection (I) of J;CCt ioll 31 of the principal Act there shall

be substituted the following

"(1) The unit of currency in MalUl shall be the Maltese lira;

and the symbol o f tlte MallCSe tin> shall be lm ....

L-artikolu tS tn' I.Att prin~ipali gllandu jkollu eflett skond

l~mendi

li ġejjin

(a) mintlok iI·paragrafu (t ) lie~U glland u jidħol iI·paragrafu

li ~ej

"(~) bla !lura għ ad-dispotiZ>!jonijiel ta' I~rtikoli (2) u

(3) ta' dan l~rlik'oIu, jiJ.lri teW ibiegħ munita tad-deheb tew

tat·fid da jew ingoui tad-<ieheb. ta l·fidda jew la' metall

preujui i eħor;"

(b) minflok il·paragrafu (ħ) liegħu għand u jidħol il·paragrafu

li ~ej

"(I\) jis.souostri~i aJ'IaJ, jixlri u jbiegħ azzjonijiel, bonds

jew obbliga1.zjonijiel la' ~i korp magħqud f'Malta stabbilil

b1iġi jew palroCinat mill.Gvern jew imwaqqaf laħl '·awtoritk

licSħu. jew la' xi korp maghqud iellor bħal dawn kif jiS:i ap-

proval mill·Miuistnl. biu jippl'()movi jew jirtinan~ja l-it~i\upp

f'Malta jew ",biex jippl'()mO~i l-i!vilupp ta' suq monetarju jew

la' suq la' li!ali f'Malla

ftda [·im,ettimenti totali taħt dan il·paragrafu m'għa n d·

IIomx ikunu itjed mill·Fond Sp«jali ta' Riserva mwaqqaf mill_

Bank d:ond f ... rtikolu 50 t3' dan I·AU~"

(t) I ... rt;kolu, kif emendat, Ilħa Ddu jij;i nUmrrJt mil1·J:did

bħala subartikolu (f)

(d) fil·ta rf ta' kl n ikolu. kif numrr.l t mill-j;did, llllandħom

jit.diedu ~ ubartikoli ġodda fi ġejjin

"(2) II·Bank &ħ~ndu jagħmel ħiltu biex itomm

;nson; tad-deheb li '.val"r taHUq ku.nnti tagllbom (hlkolat

n.,c,h ħar ta' kull xahar bil·medja tal'P"'uijiet li fuqhom j iġi

ffissat iha lur rLondra matul dak ix·xaMr) ma jkunx inq3s

mill-valur tal-biljetti li' flus u ta' muniti lal· nank li jkunu in-

ħarġu.tw.m minn muniti maħru .... a ghal ~ħanijiet numismatiti

u mclll l-arumont ta' inR(ltti IIId-dehcb mitmum mill·Bank ikun

laħaq il·500.ooo uqip tro)" dak li I·Bank iku n qed it omm fin-

golli tad-deheb R1'aħandux jilnaqqas ta ħt dik il·kwanlil ~ .

(3) Miukejja d-dispotizz}onijiet uu-subartikolu (2)

ta ' di n 1 .. rtikolu -

lil il·Bank jiSla' jbiegll ingoUi tad-deheb mixtrija

wua 1·1 ta' Lulju. 1933, kemm·il darba ]·pren li xi

~wanlit~ li tj~bi~,1I nla jkullK inqa! milJ-prezt li bih ikun

inxta'1l d·ddreb " ala dik id·data u r-ritavat minn ku ll

bejgh bħ:ll da~ jilqir~hed fkont separal u jintuta bii<5

aJ'Iax'Kiri ta' ingot li tad-deheb; u

\ii) meta l-ingol1i lad-deħrb ti l-Oanl:: iklln qed

itomm ikunu i1,jed minn 500.000 uqija 1M)'. il-Bank jista'

jin ne<>o!ja dak I.f,nlmon t li jkun i!jed b'dak it-mod li

jid hirlu xieraq.

(04) GII3 IHi n'j'rl ta~ubartikol; (2) u 131 ta' dan

l-a rti kolll I·valuri kollha u l-fmnguni kollha bejn il-prezzijiet

għandhom jiġu kal kol u ; Miri Maltin ....

Minnok iHubartikolu !li ta' l .. rtikolu 37 ta' I·Att prin~i pali

għ and u jidllol da n li S:cj

[..unit1l ta!.(tus f Ma lta tkllo il·lira Mallija; u

"li)

wimbolu tul·lira Ma llijl jkun Lm.".

m

Bla !ls.ar. għad-djs~lilljollijiet tu' l-IIrtikolu '" ta' dan "101.1 .... ~ .. "

l-Att, I·Att pri n~ipa\; u kull liġi oħra għandu jkollhom effett daqslik;d;u _c..;w

minnok il·klicm " Malla pound" jew '·Mallll pounds", kull fejn jinsabu ".\C.ll& ...... ""'"

fit·test lnglit tagħllom, kien hemm _titwil;. riljlrltivamcnt. il·kliem t riI-~p",'

h

"Maltese lira" j(W "Maltese li ri

u daq,liekieku minflok il-kliem

,

"pound" jew "pollnds". kull fejn jinsabu fil·tesl Ingl it lagllhom u li

huma wtali biex juru [·flus li' dik id-denominazzjoni li buma vatuta

legali f Malta, kien Ilemm sostitwiti, rispcuivament, il·kliem " lira" jew

(2) Ebda bata li tinsab fid-dispotiujonijiel ta' qabel ta' dan

l-arti kolu 11 f1-artikolu 4 la' dan I·A!! ma għandha tiltiehem li b':<i mod

tolqot l·identitA. ix-xorta. il·kontenut jew xi bata oħra ta' SUS!an7,11 ta'

l·unil~ tal·flus f'Malta kemm qabel kif ul::oll wara l-bidu fis-seħħ ta' dan

[-A!!. iMa ghandu jkollha etren biss bħala bidla fl·isem bl-l oSl;! ta'

l-imsemmija flus; 11 ku ll riferenza hi att privat jew pubb1ilnl jew f'xi

dokument iehor ikun li jkun għall-unita tal·flus k if imsejħa bl·ilsien Inglit

qabel il-bidu fis-sehll ta' dan I.Att għandha tinqara 11 tiftiehem bħala

riferenza għal di k [·unitA kif magħrufa minn l>emm 'il quddiem.

F'dan l-artikolu "liQj" għandha l·istess tifsir kif mogħti

(3)

lilħa bl ... rtikolu

126 tal.Kost ituzzjon i.

mill·Kamra tad.Deputati fis-Se<!U1a Nru. 119 tat-12 la' Lulju. 1983.

DA~IBl.. MICAI..L6F

S peaker

C. MIFSUD

Skrivan ra/-Kamra laJ-Depu((Jli

(l) Without prejudice to tile provisions of section 4 o f this

Act. the principal Act and t''ery other law sha!! have effe<:1 as if for tile

"ords "Malla pound" or "Malta pound.~. wh~er they appear in the

English tul thereof, there were .ubstituted, respectiVl:ly, the words

"Maltese lira" or "Maltese Hn", and as if for the words ''pound~ or

'·pound,·'. wherever they appear in the English text tbeteof and are used

10 denote currency of that denomination wlticb is legal tender in MaIUl .

there were substituted. respectively. the words "I ira" or ·'Hn".

(2) Nothing oontainoo in the foregoing provisions of this 5«-

tion and in section 4 of this Act shall be construed 115 in any way affott-

ing the identity, nature. content or OIher maller o f substa nce of the unil

of currency in Ma!UI whether before or after the coming into fon::e of

this Act. but shall !lave effect only a. a change in the Englillh name of

tile said currency: and any reference in any private or public instrumen1

or other document whatsoever to the unit of currency as called in the

English 1a08ua~ before the coming ioto force of this Act shall be read

and construed as a reference to such un it a~ known thereafter.

(3) In this 5«1ion ··(aw" has the same mean ing as is assigned

to i\ by section 126 of the Constitution.

PaMed by the ~I ouse of R e[l~ ntalives al Silling No . 119 of lite 12th Ju(y. 1983.

O "N1EL M U; "LL EF

Sptaku

C. M 1FSUD

Clerk 10 Ihe H ouse of RepreSf!Mlal;V~s

_e. .

w.o-o _ _ ..... "".

__