of th e ~hlt Clc U n Regul ations, 1994

L.N. 165 or 19901

CENTRAL BANK Of·' M A L T A ACT

(CAP. 204)

Accounting T~. lmcn t

of th e ~hlt Clc U n Regul ations, 1994

IN exercise of tile powers conferred by subsection (3) of section

}9 of the Central Bank of Ma/ta Act, the Minister of Finance has

made the following regulations:-

(I) These regul ations may be eiled as the Accounting

Treatment of the Maltese Lira Regulations, 1994.

(2) These regulations shall eome into force on the

15th

day of November. 1994.

In these rel!;ulations. "i nstrument " means any deed, contract,

writing, invoice, bill. cheque or Other similar document in terms of

which a sum ofmo~y is due.

T~lolM,I.

l. Where in terms of any instrument a sum of money is due and

such sum is denominated in Maltese Liri andlor ccots and mib, tile

mils component shall be treated in either of tile following manners

for accounting purposes.-

fa) jfthe mil component is four mils or less, the said sum

of money shall be rounded down to the nearest CCn!: or

(b) if the mil compolleot is five mils or more. the said sum

shall be rounded up to the nearest cent

.. In any inSlrumen! where more than one sum of money is

shown. the treatment as stated in regulation 3 of these regulations

shall only apply to the aggregate addition of such sums due.

5, Where any calculation of any sum on the basis of any price

or consideration which includes mil s is made. such calculations shall

duly take account of the mil component of the price or consideralion

as the case may be.

Provided that in aggregating tile total of any such $Urn in any

instrument regulation 3 of these regulatioru shall apply.

l:cj n skond ku ll slrulll<.'nt hij. dovula somma tl' nus u dilc T." t"""., IO'

is-somma hij. dcskrin. r liti M.II;o uIj~'W ecnlclmi u mill~j. '· . ...... d I,' Mi.klmi

il-pl l1 i tll·milk1mi ghRnd hl , gllll sk"pijicl 11' konlabililft' , .k un

itll1ln~la b'wi chcd rnill-tn<:lod i ki r gcj

(.) jclck l-g hadd ta' mill et-mi jkuD ta' erba' mill clmi j ~'W

anq as, dik is-somma nus gll andba tilnaqqas b'da\( I-unmonl ta'

millcmi; jcw

(b) jdd: l-ghldd 11' rni l1ct.mi jkun la' halllC:'! millctmi jew

aklar, dik is-somml nus ghandhl liZdioo gbat-«"lltct.mu I; jkun

I Dll SS.

4 . F tu ll slrumeul li juri akl.ll minn somml wlhdl 11' flll$

il-l rl lllDlen l kif i!l1$elllmi rregobmeol 3 111' dawn ir-regollmenli

ghlndu j lpptih bi.'lS gbas-sonllnllOllti 11' I-ammonli dovuli.

Fl:ull h lltu llUjoni 11' somml 111' flus InIgbmub fuq ba1.i

11' pteu jew hi.., ichor Ii jin1ludi millcZmi, dilt il-hlkular4oni

gblndbl tiebu in ltonsiderlUjoni il-pmi 1II1-mille2mi tl' dak

il-prc7.Z jew bias sltond il-hz

[al. fl_Bggrcglt I.' kull wmrna 111' flll5 f'kull SlnImenl gbaadu

jlpplih r-regolamenl j 111' dawn ir.rogollDlCDli.

6,

Kull t .. mm I.' kilb. tl' !tonl.bilila' 11' kullllnlment illTllIll

3 11' dlwn ir-regollmenti glland u jllri I-Immonl

~ko "d tcgolam~nl

IUuSlal miogbljr il·millemu.

7, Kul] stru mcn l illrallal 11 mhKlIas skond ir-rcgoll mcnl 3 11'

dawn ir- rego lamCDli g""ndu gb.U-skopijiel II I-lili j l:uD lIlI.lqjus

bhala mifdi mioo di k il-~rsu ol li lilba j kuo i,qj.b u I....,bd. 1. 1.,.

gbll bias mioo krcdilur lil debi lur mlgb mub fuq il· fauti I-hlas ikuo

SIT kif spetilihl lir-r~"ol.meul 3 11' dawn it-rcgolamcDli ma' Ikun

v.lidl skond il-lili.

Kull pcrsunl li I.gbmel xirj. roUll,joni wa bda mi nghand

All accounting record s in respect of an instrument treated

as in regulation 3 of these regulations shall reflect the rounded

amount without any mils.

Any instrument treated and settled according to regulation 3 SeI,I<onen,.

of these regulations shall for all purposes of law be deemed to have

~n duly discharged by tbe person to whom it is addressed OT given

and no claim from a credi tor upon a debtor solely based upon the

fact that senlement Iw been effected 15 provided for under

regu lation 3 of thC$C regulation, shall be considered valid at law .

I. Any person effecting any purchase It Iny one t ime from any

other person shall be entitled to demand one instrument for all

purehases from the olher person and that person shall comply with

such a request.

Where I n arnount referred to in Iny instrument dated on or

prior to 16 May. 1972 is not a whole number of liri. so much of that

amount as is in Shillings, shillings and pence or pence or fractions

thereof shall be convened to cents and mil l as follows

(I) for any whole shilling or multiple thereof the

corresponding amoont shall be taken to be five cents or that

multi ple thereof, and

(b) for any amount or remaining lmount of less than onc

shilling shown in Column I of IIIe fol~ing Table tbe

OOTJesponding amount shall be liken to be Ihe amount (if any) in

cents or rnil s or in cenu and mil! shown opposite that amount in

Column 2 ofthal Table (and accordingly an amount or remaining

amount of le" than one half· penny shall be disugarded)

Provided that any amount so convened 10 cents and mil! , hall be

treated in accordance with these Regulations for accounting

purposes.

B

TABLE

Column 2

Column 1

Amount in old currency

Corresponding IlInOUm in new currency

MiJs

Cents

PellCt

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2Y1

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1l Y,

15th November 1994

persuna obra gbl odb. d-drin lillob sl ruOlCnl wicbcd gblJr. -xirja

ko llh_ miDghaod il_peTsu na l-obts u dik il- pcrsuna l-ob .. gblndh.

tilqa· dik il-tftlb •.

MCI_lmmonl IIlStmmi rkull slrumcnl li jaib id-dRIB laH6

9,

la' Mcjju 19n jew <Jlbel ma jkunx numru sbi b 11' liri. dik il-parei ta'

dak I.amrnonl li Ikun I'xclin i, I'x ci in; u soldi j~-w r soldi jew Ii

fraujun ijicl tsgh bom gblndb l tinqa leb rtcolctmi u milldmi skond

kif a,,;

(I) minnok xclin sllib jcw mullipl u licgllu l_ammoDt li

jikkorri spondi ghlih gbmnd u j kun bames tcn lami jew dlk

il_mlll1iplll licghu; u

(b) mi nnok ku n ammoO I jew Immoot li jibqa' inqlS

minD xclio muri IiI-Ko lonna I lat-Tabella li ~ejja I-Im monl li

jikkorrispolMii ghl.lih ghl.od u jtun ]·amlOOol (jekk iku n I·kat)

reCII lctlni jew f'millchni jcw rteolami u millebni muri konl l1l

dak I ... mmonl IiI-Kolonnl. 2 .. ' dik il-Tl.beU. ( u gllalbckk

amlQ(lnl jew Immonl li jibql' inqllli minn si t! "lbbi{:1 ml

jilq icu),

Itdl kull I mmOOI maqlub rteold:mi u mill ctmi gllandu jigi

111111.1 skond d.wn ir-rego l.menti gb.l-skopijict la ' kon t.bilit. ',

TABE LLA

Kolon nl I

Kolono l 2

AmlQ(lnlli n us'" qlbel Ammoolliji kkorrispoodi gllali h Ii nos

godda

Soldi

Ceolctmi

Millchni

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4 , .

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7. J

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10 Y;

I I V.