7% Malta Government Stock 2018

L.N. 115 of 2008

LOCAL LOANS

(REGISTERED STOCK AND SECURITIES) ORDINANCE

(CAP. 161)

Directive by the Minister of Finance, Economy and Investment

For the issue of €326,700

7% Malta Government Stock 2018

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, 2 (b) 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

Minister of Finance, Economy and Investment has authorised that the

sum of €326,700 7% Malta Government Stock be created and issued

directly to the Ecclesiastical Entities as follows>

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

Stock.

shall be issued at the price of €100 per cent and shall be allotted to the

Ecclesiastical Entities in multiples of €100 on the18th April, 2008.

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

18 th April and on the 18 th October in every year during the currency of and

payment.

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

Financial Markets Act. Such Stock may be freely sold to the public

with the prior authorization of the Maltese Episcopal Conference. Such

Stock as may however be traded between Ecclesiastical Entities outside

the Malta Stock Exchange, does not require such authorization, and

shall be exempt from duty on documents.

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, 2018 and the 31 st

December, 2018 (both dates inclusive) as shall be determined by the

Accountant General and notified in the Gazzette.

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

€0.19 (Lm0.08)