Transfer of Listed Securities Regulations, 2004

L.N. 287 of 2004

FINANCIAL MARKETS ACT

(CAP. 345)

Transfer of Listed Securities Regulations, 2004

IN exercise of the powers conferred by article 49 of the

Financial Markets Act, the Prime Minister and Minister of Finance,

acting on the advice of the Malta Financial Services Authority as the

competent authority for the purposes of the Act, has made the

following regulations:-

(1) The title of these regulations is the Transfer of

Listed Securities Regulations, 2004.

(2) These regulations shall come into force on such date as the

Prime Minister and Minister of Finance may by notice in the Gazette

establish.

The transfer of the ownership of listed securities that are

transacted on a recognised investment exchange is complete for all

purposes of law upon the payment, in full and final settlement, of the

consideration where such payment is effected through a payment

system approved and authorised by the Central Bank of Malta in

accordance with article 36 of the Central Bank of Malta Act; and the

provisions of article 1347 of the Civil Code shall not apply.

The provisions of regulation 2 shall also apply to

transactions traded outside the recognized investment exchange, in

accordance with the Off-Exchange Trading Regulations, 2004, made

under the Act, unless the parties thereto specifically agree otherwise.

2004. Mitbug] fl-Istamperija tal-Gvern - Printed at the Government Printing Press