Malta Government Savings Bank (Amendment) Regulations" 1983

L.N~ 3 of. 1983

MALTA GOVERNMENT SAVINGS BANK ORDINANCE, 1961

(ORDINANCE NO. XXV OF 1961)

Malta Government Savings Bank (Amendment) Regulations" 1983

IN exercise of the p0wers conferred by section 13 of the Malta

Government Savings Bank Ordinance, 1961, the Minister of Finance

has made the following regulations:-

l. (1) These regiUfations may be cited as the Malta Govern-

ment Savings Bank (Amendment) Regulations, 1983, and shaH be

read and construed as one with the Malta Government Savings Bank

Regulations, 1961, hereinafter referrecl to as "the principal

regulations" ,

(2) These regulations shaH be deemed to have come into

force on the 1st January, 1982.

(1) Dawn r-regolamenti j istgħu jissejħu r-Regolamenti ta' Titolu u bidu

1-1983 li jemendaw ir-Re~olamenti dwar il-Bank ta' Tifdi1. tal-G\;ern fis-seħħ.

ta' Malta u għandhom jinqraw u jiftieħmu ħaġa waħda mar-RegQla-;~ A.L. 53' ta1'}~1'961

menti ta' 1-1961 dwar il-Bank ta' Tifdil tal-Gvern ta' Malta, hawnhekk

iżjed 'il quddiem imsejħa "ir-regolamenti prinċipali".

(2) Dawn ir-regolamenti għ an dhom jitqiesu li bdew .iseħħu

fl-l ta' Jannar, 1982.

. . , .

Minflok ir-regolament 7 tar-regolamenti prinċipali . għai)du

For regl:llation 7 of the principal regulati.:ons there shaH be

su!bstituted the foHowing

"7. (1) Exc.e pt as pr.ov,ided in paragraph (4) of this regula-

tion a fixed deposit shaH not be withdrawn before the date of

maturity.

(2) If the princi~al of a fixed deposit is not withdrawn

within ten days after the date of maturity it shall be deemed

to be re-deposited as from such date.

(3) No interest shaH accrue on fixed deposits before the

date ,of maturity. After such da te the interest may be withdrawn

at any time but no interest shaH be paid on it in respect of the

period during which it remains unc1aimed.

(4) The Accountant General may allow a fixed deposit

to be withdrawn before the date of rnaturity.

(5) Where, in allowing a withdrawal as aforesaid the

Accountant General i·s sa6sfied on the evidence produced that

a real need exists for such withdrawal in part Dr in whole, and

30 days have passed since the deposit or re-deposit was made,

interest on the amount so withdrawn shaH be reckoned at the

prevailirng savings account Tate, and the balance of the fixect

deposit, if any, shal1 remain deposited under the same condi-

tions originally obtaining.

M;) A withdrawal of a fiX'ed deposit allowed otherw:ise

t!han as ]>fov.ided in paragraph ,(}) of this regulation, shaH be

'd e.emecl to imply a waiver on the part of the depositor to any

daim !tor interest in respect of any ,period shorter than that for

which the deposit is made.".

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