MT
The Exchange Cont r ol (Amendment)
Statutory Text (5 Articles)
B
6S8
LX 53 01 1996
EXC HANGF; CO NTROL ACT
(C AP. 233)
The Exchange Cont r ol (Amendment)
Order, 1996
IN exercise of Ihe powers conferred by sec ti ons 36 and 38 of the
Exchange Control Act, (in this Order referred 10 as "the Act"). an d all
other powers him enabling. the Minister of Fi nance has made the
following order
This orde r may be citcd a~ The Exchange COlilrol ("u .. k>n.
(A mend men t) Order, 1996, and shal l be read and construed as one wi th
The Exchange Control Order. 1973. herei naftc! r referred to as Ihe LoN. 9 of 191)
"principal order",
Immediately after article I of the principal order there shall Add~ioII of .......
.. tide! A to !be
be added the following 3nicJe
I A. Any policy of assurance expressed in foreign
- ..
"1l«:Ia ... """
or-f.,..;~
currency issued by an insurer lawfully carryi ng on in Malta
,"'='mc:n.-
the business of life insurance. shall be deemed to be a fore ign
~
investment ....
( I ) of
, ,,,",,,," l of
~-.
For article 6 of the principal order thcre shall be substituted
Ihe following
Subsection (I) of section 29 of the Act shall "01
apply to -
(a) any policy of assura nce deemed [0 be a foreign
investment: or
(b) any policy of assurance expressed in Maltese
liri issued by a non -resident lawfully carrying on in Malta
the business of life insu rance ....
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