DWEJRA OPPORTUNITY FUND REGULATIONS

DWEJRA OPPORTUNITY FUND

SUBSIDIARY LEGISLATION 445.06

DWEJRA OPPORTUNITY FUND REGULATIONS

9th March, 2018

LEGAL NOTICE 76 of 2018.

The title of these regulations is the Dwejra Opportunity

Fund Regulations.

In these regulations, unless the context otherwise

requires

"Committee" means the Dwejra Opportunity Fund Committee

established in regulation 4; and

"Fund" means the Dwejra Opportunity Fund established in

regulation 3.

(1)

There shall be a fund, to be known as the Dwejra

Opportunity Fund, which shall be composed of the following

(a)

company donations to this Fund shall be eligible

for the same tax benefits given under the Cultural Heritage

Act;

(b)

such other amount as may be paid into the Fund

directly through the Ministry for Gozo; and

(c)

such other amount as may be paid into the Fund

in accordance with the provisions of sub-regulation (2).

(2) The Government of Malta undertakes to pay into the

Fund, at the end of each financial year, the equivalent of such amount

as may have been paid into the Fund during the said financial year, by

individuals or companies under the provisions of sub-regulation

(1)(a).

(1)

The Fund shall be administered by a Committee,

to be known as the Dwejra Opportunity Fund Committee, which shall

be composed of not less than three and not more than five members,

who, in the opinion of the Minister for Gozo, shall be individuals

working in or dedicated to the field of cultural heritage in Gozo; a

representative of the Ministry for Finance, to be appointed by the

Minister for Finance, shall also sit on the Committee.

(2) The Minister for Gozo shall appoint the members of the

Committee referred to in sub-regulation (1), except the representative

of the Ministry for Finance, and shall appoint a Chairman from

amongst the members so appointed.

(3) Decisions of the Committee shall be taken by a majority

vote and, in the case of an equality of votes, the Chairman shall have

both an original and a casting vote.

DWEJRA OPPORTUNITY FUND

(4) All the members of the Committee shall be appointed for

a term of three years, which period may be renewed for a further

period of three years.

(1)

The funds from time to time standing to the credit

of the Fund shall be paid out by the Committee, without any further

appropriation, to such persons, organisations, bodies or other entities

pursuing research on natural heritage sites or working on projects of a

cultural nature in Gozo, and in such amounts, in such manner and at

such times, as may be determined by the Committee.

(2) The Committee shall ensure that the manner in which

persons, organisations, bodies or other entities may apply for funding,

and the criteria which are used to determine whether such persons,

organisations, bodies or other entities may make such request and

whether funding should be granted, are made readily available to the

general public.

(1)

The Committee shall cause to be kept proper

accounts and other records of the receipts and expenditure of the Fund,

and shall cause to be prepared a statement of accounts in respect of

each financial year.

(2) The accounts of the Fund shall be audited by auditors

appointed by the Committee from among persons who are qualified to

be appointed as auditors of a company

Provided that the Minister responsible cultural heritage,

together with the Minister responsible for Gozo, may require the books

and accounts of the Fund to be audited or examined by the Auditor

General who shall for the purpose have all the powers set out in the

Auditor General and National Audit Office Act.

(3) The Committee shall, as soon as may be but not later than

five months after the close of each financial year, transmit to the House

of Representatives, through the Minister responsible for Finance, a

copy of its annual accounts duly audited together with a brief report on

the projects or other deserving causes funded during the previous year.

The provisions of the Public Procurement Regulations,

and other relevant legislation related to procurement in the public

sector, shall, mutatis mutandis, apply to the running of the Fund.