Treasury Bills, 2007

L.N. 58 of 2007

MALTA TREASURY BILLS ACT

(CAP. 133)

Directive on the Electronic Central Depository for Malta

Treasury Bills, 2007

IN exercise of the powers conferred by article 11(1) of the Malta

Treasury Bills Act, the Prime Minister and Minister of Finance has

issued the following directive>–

The title of this Directive is the Directive on the Electronic Citation.

Central Depository for Malta Treasury Bills, 2007.

In this Directive, unless the context otherwise requires>–

Interpretation.

“appointed dematerialisation date” means the appointed date

when Malta Treasury bills are registered on the Central Securities

Depository. The Minister shall, by notice in the Gazette, give

notification of such appointed dematerialisation date<

“business day” means any day which is not a Saturday and

Sunday or a public holiday, when the securities market in Malta is

closed as shall be notified by the Exchange from time to time<

“bye-laws” has the same meaning as is assigned to it by article

2 of the Financial Markets Act<

“Central Securities Depository” has the same meaning as is

assigned to it by article 2 of the Financial Markets Act<

“Exchange” has the same meaning as is assigned to it by article

2 of the Financial Markets Act.

(1) The Central Securities Depository shall be the electronic Electonic Central

central depository for Treasury bills issued under the Malta Treasury Depository

Malta Treasury

Bills Act.

Bills.

(2) The book-entry transfer arrangements operated by the

Central Securities Depository shall be instituted as the electronic book-

entry transfer system for Treasury bills mentioned in article 11(1) of

the Malta Treasury Bills Act.

(1) Following the announcement of the appointed

dematerialisation date, all physical certificates of outstanding Treasury

bills must be returned to the Treasury by not later than one business day

prior to the appointed date.

(2) The holders of Treasury bill certificates who return their

respective certificate to the Treasury prior to the appointed

dematerialisation date shall be registered in the Central Securities

Depository and after the appointed date shall be provided with

notification from the Central Securities Depository confirming such

registration in the form of a Registration Advice.

(3) All Treasury bill certificates issued prior to the appointed

dematerialisation date shall cease to be negotiable in the secondary

market one business day prior to the appointed dematerialisation date.

(4) The nominal value of Treasury bill certificates that have

not yet been returned to the Treasury by one business day prior to the

appointed dematerialisation date shall be registered by the Treasury in

the Central Securities Depository in a Treasury Clients’ Account.

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

Lm0.08 (€0.19)