7% Malta Government Stock 2014 (IV)

L.N. 347 of 2004

LOCAL LOANS

(REGISTERED STOCK AND SECURITIES) ORDINANCE

(CAP. 161)

Directive by the Prime Minister and Minister of Finance

for the issue of Lm1,718,800

7% Malta Government Stock 2014 (IV)

IN exercise of the powers conferred by article 4(1)(a) of the Local

Loans (Registered Stock and Securities) Ordinance, Cap. 161, and by

article 6 of the Ecclesiastical Entities (Properties) Act, Cap. 358, and in

virtue of the Agreement entered into between the Holy See and Malta,

signed on the 28 th November, 1991, and reproduced in the Schedule to

the Ecclesiastical Entities (Properties) Act, 1992, the Prime Minister

and Minister of Finance has authorised that the sum of Lm1,718,800

7% Malta Government Stock be created and issued directly to the

Foundation for Church Schools as follows>

The Stock which is negotiable and free of duty on documents Mode of issuing

Stock.

shall be issued at the price of Lm100 per cent and shall be allotted to

the Foundation for Church Schools in multiples of Lm100 on the 30 th

June, 2004.

Interest in full will be payable in arrears half-yearly on the Rate of Interest

and dates of

30 June and on the 30 th December in every year during the currency of payment.

th

the Stock. The rate of interest shall be revised upon the lapse of every

period of two years, starting from the date of emission of such stock, in

such a way as to maintain it at 1% lower than the normal maximum

lending rate allowed at law, it being understood that it cannot fall below

7%.

Payment of interest will be made by warrant, which is sent by post

at the stockholder’s risk to the stockholder himself or to any branch of

any local bank, person or body of persons to whom the stockholder has

by a request in writing authorised the Accountant General to issue such

warrant. No warrant shall be paid until the relative receipt has been

duly signed and such receipt shall be a full discharge to the Accountant

General and the Government for such payment. In cases where Stock

is registered in the names of two or more persons as joint stockholders,

the Accountant General may make payment in the manner above-

mentioned to the person whose name first appears in the register. A

receipt for the payment of interest given by one or two or more joint

stockholders shall, unless notice in writing to the contrary has been

received by the Accountant General from any other joint stockholder,

be a full discharge to the Accountant General and the Government for

the payment of such interest.

An application for the Stock to be put on the official list for

trading on the Malta Stock Exchange will be made in terms of the Malta

Stock Exchange Act. Such Stock may be freely sold to the public with

the prior authorization of the Maltese Episcopal Conference.

The Stock and interest thereon will be a charge on the general

revenue and assets of the Government of Malta.

The Stock shall be redeemed at a premium of 10% over the

nominal value on such date between the 1 st January, 2014 and the 31 st

December, 2014 (both dates inclusive) as shall be determined by the

Accountant General and notified in the Government Gazzette.

Mitbug[ fl-Istamperija tal-Gvern — Printed at the Government Printing Press