7% Malta Government Stock 2019 (II)

L.N. 166 of 2009

LOCAL LOANS

(REGISTERED STOCK AND SECURITIES)

ORDINANCE

(CAP. 161)

Directive by the Minister of Finance, the Economy and

Investment for the issue of €13,670,000

7% Malta Government Stock 2019 (II)

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 7 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 28th November,

1991, and reproduced in the Schedule to the Ecclesiastical Entities

(Properties) Act, 1992, the Minister of Finance, the Economy and

Investment has authorised that the sum of €13,670,000 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 shall be issued at the price of €100 per cent and shall

be allotted to the Foundation for Church Schools in multiples of

€100 on the 30th June, 2009.

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

the 30th June and on the 30th December in every year during the and

currency of 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 may, however, be traded between

Ecclesiastical Entities outside the Malta Stock Exchange, does

not require such authorization, and shall be exempt from duty on

documentation.

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 1st January, 2019

and the 31st December, 2019 (both dates inclusive) as shall be

determined by the Accountant General and notified in the Gazette.

€0.19