ACT No. XIX of 1995 AN ACTto amend the Malta Treasury Bills A Cf, Cap. 133 BE IT ENACI EO by (he President.. by and with the advice and consent of the House of Representatives, in this present Parliament asse mbled, and by the authority of the same, as follows:-

1 assent.

(L .S.)

Uoo MIFSUD B Of'JNIC I

President

13th June, 1995

ACT No. XIX of 1995

AN ACTto amend the Malta Treasury Bills A Cf, Cap. 133

BE IT ENACI EO by (he President.. by and with the advice and

consent of the House of Representatives, in this present Parliament

asse mbled, and by the authority of the same, as follows:-

This Act may be cited as the Malta Trea sury Bill s

(Amendment) Act, 1995, and shall be read and construed as one with

the Malta Treasury Bills Act, hereinafter referred 10 as ",he principal

Ac'''.

In section 2 of the principal Act, immediately before the

definition of " Malla" there shaH be insened the following new

definition

.. "auctions" means a public invitation for submission ofbicls

for treasury bills in such manner as the Minister may direct;",

J.

In section 3 of the principal Act, for the words "under this

Act " there shall be substituted the words "under this Act for the purpose

of providing tempora ry borrowing 10 meet monetary liquidi ty

requirements to finance Government expenditure.".

For subsection (2) of section 4 the re shall be substituted the

following

"(2) Every treasury bill shall be signed by the Accountant

General afler his authorisation in writing for thl;: purpose by the

Minister.".

S. For section 5 of me principal Act there shall be substituted

the following

Treasury bills may be issued in the followi ng ways

(a) by holding auctions and issuing treasury

bills to persons whose bids are accepted; or

(b) by the issue of treasury bills at fixed rates of

discount·"

• •

Section 6 of the principal Act shall be amended as follows

(a) in subsection (1 ) thereof, for the words "public account

of Malta." there shall be substituted the words "public account of

the Government of Malta."; and

(b) for subsection (2) thereof there shaH be substituted the

following

"(2) Proceeds of treasury bills shall be charged on

and paid out of the Treasury Clearance Fund and interest

thereon shall be paid out of the Consolidated Fund ....

In section 8 of the principal Act. for thc words "to any duty:"

there shall be substituted the words "to any duty under the Duty on

Documents and Transfers Act, 1993.".

For section 10 of the principal Act there shall be substituted

the following

Minnufi h ward l-artikolu 10 ta' I-An principali ghandhom

jiidiedu dawn I-artikoli gOOda li geiiin

A treasury bill issued under this Act shall. unless

....., expressly provided by law. continue to be governed by the

conditions prevailing al the time of its issue, until it is

repaid.".

9. Immediately after section 10 of the principal Act there shall

be added the following new sections

-......,. 11. (I) The Minister may issue directives for the

creation of an Electronic Central Depository for Treasury

Bills and for the institution of an electronic book entry

transfer system.

(2) Notwithstanding anything contained in this

Act, the provisions relating to the issue of treas ury bill

cenificates shall nOI apply in the case of bills registered under

the Electronic Central Depository for Treasury Bills.

(I) I1-Ministruj iSla' johrogordnijictgliall-ftuh

la' Depoiitarju EletlrOniku Centrali glial Bills tat-Tezor u

biex ikun hemm sistema elettronika la' trasferimenti li soltu

jsiru pennczz ta' regislrazzjoni fil -klieb.

M inkejja kullliaga ol'lra li tinsab fdan I-Att,

(2)

id.dispozizzjonijiet li gliandhom x'jaqsmu mal-hrug la'

eertifikati dwar bjl1s taHczor ma gftandhomx jappiikaw fil-

kai ta' bills 1i jkunu registrati tah! id-Depoiitarju Elettroniku

Centrali glial Bills tat- Teior.

( I) The Minister may make regulations to

prescribe or provide for-

(a)

the preparation, fo rm, mode of issue,

registration. negotiation. payment and cancellation of

treasury bills;

(b) the issue of a new treasury bill in lieu of a

defaced , los t or destroyed bill;

(c)

t he creation of an e lectron ic central

depository for treasury bills and services related thereto;

.od

(d) such other matters as may be deemed 10 be

necessary for the purpose of canying the provisions of

this Act into effect.

(2) All regulations under this Act shall be

published in the Gazette and laid before the House of

Representatives.".

Passed by the House of Representatives at Sitting No. 427 of the 30th May,

1995. LAWRENCE GONZI

Speaker

RI CHA RD J. CAUCH I

0/ Representatives

0.-"._,

Ippubblibt mid· o;""rI;mcnt to' 1·lnfornw:zjoni - KaMa;. - "~l>fiIMd b, t/w

of Inf"'hwitM - 0uIil1r

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