No. 1060
LEGAL NOTICES
PUBLISHED IN THE SUPPLEMENT
TO THE GOVERNMENT GAZETTE
IT is notified for general information that the following Legal Notices were published in the Supplement to the Government Gazette No. 19,871 of the 29th September, 2017.
L.N. 254 of 2017: Asset Recovery Bureau Regulations (S.L. 9.23); Commencement Notice.
L.N. 255 of 2017: Eurocontrol Act (Cap. 333); Civil Aviation (Terminal Charges for Navigation Services) (Amendment No. 2) Regulations, 2017.
L.N. 256 of 2017: Statute Law Revision Act, 1980 (Act No. IX of 1980) Correction of Laws Order, 2017 (Civil Code, Cap. 16).
L.N. 257 of 2017: Education Act (Cap. 327); University Postgraduate Awards (Amendment) Regulations, 2017.
L.N. 258 of 2017: Education Act (Cap. 327); Bye-Laws of 2017 to amend the Bye-Laws of 2010 in terms of the General Regulations for University Postgraduate Awards, 2008 for the Degree of Licentiate in Sacred Theology – S.Th.L. – under the auspices of the Faculty of Theology.
L.N. 259 of 2017: Education Act (Cap. 327); Bye-Laws of 2017 to amend the Bye-Laws of 2008 in terms of the General Regulations for University Postgraduate Awards, 2008 for the Degree of Master of Arts in Theology – M.A. – under the auspices of the Faculty of Theology.
L.N. 260 of 2017: Education Act (Cap. 327); Bye-Laws of 2017 to amend the Bye-Laws of 2010 in terms of the General Regulations for University Postgraduate Awards, 2008 for the Degree of Master of Arts in Matrimonial Canon Law and Jurisprudence – M.A. – under the auspices of the Faculty of Theology.
L.N. 261 of 2017: Education Act (Cap. 327); Bye-Laws of 2017 to amend the Bye-Laws of 2010 in terms of the General Regulations for University Postgraduate Awards, 2008 for the Degree of Master of Arts in Youth Ministry – M.A. – under the auspices of the Faculty of Theology.
3rd October, 2017
No. 1061
MALTA COMPETITION AND CONSUMER AFFAIRS AUTHORITY ACT
(CAP. 510)
Appointment of the Board of Governors of the Malta Competition and Consumer Affairs Authority
IN exercise of the powers conferred by Article 9 of the Malta Competition and Consumer Affairs Authority Act, and for the purposes of that Act, the Minister for Justice, Culture and Local Government has appointed the members of the Board of Governors of the Malta Competition and Consumer Affairs Authority as follows:
Chairperson
Eng. Helga Pizzuto
Deputy Chairperson
Mr John Abela
Members
Mr Joe Falzon
Prof. Anthony Serracino Inglott
Mr Reginald Fava
Ms Anna Spiteri
Mr Mario Cassar
Ms Sylvana Civelli
Dr Maria Briffa
Mr Benny Borg Bonello
Dr Brigitte Sultana
These appointments are valid for a period of one year, with effect from 28th August, 2017.
3rd October, 2017
No. 1062
DATA PROTECTION
ACT
(CAP. 440)
Appointment of the Information and
Data Protection Appeals Tribunal
IT is hereby notified that, in terms of the powers conferred by article 48 (5) of the Data Protection Act, the Minister for Justice, Culture and Local Government has appointed the Information and Data Protection Appeals Tribunal as follows:
Chairperson
Dr Anna Mallia
Substitute Chairperson
Dr Noel Camilleri
Members
Mr Charles Cassar
Mr David Bezzina
Secretary
Ms Bryony Bartolo
These appointments are for a period of three years as from the 28th August, 2017.
3rd October, 2017
No. 1063
APPOINTMENT OF MEMBERS OF THE ARTS COUNCIL MALTA BOARD
IT is notified that the Minister for Justice, Culture and Local Government has approved the members to form part of the Arts Council Malta Board as follows:
Executive Chairperson
Mr Albert Marshall
Deputy Chairperson
Mr Paul Cachia
Members
Mr Nicholas Depiro
Mr Paul Giordamania
Ms Caroline Tonna
Ms Veronique Farrugia
Ms Jackie Mercieca
Mr Joe Micallef
Mr Charles Hili
These appointments are for a period of three years with effect from 28th August, 2017.
3rd October, 2017
No. 1064
APPOINTMENT OF THE ASSET MANAGEMENT BUREAU BOARD
IT is notified that the Minister for Justice, Culture and Local Government has approved the members of the Asset Management Bureau Board as follows:
Chairperson
Judge Joseph David Camilleri
Members
Superintendent Ian Abdilla
Mr Marvin Gaerty
Mr Frankie Mercieca
Mr Kenneth Farrugia
These appointments are for a period of three years with effect from 28th August, 2017.
29th September, 2017
No. 1065
CONSUMER AFFAIRS
ACT
(CAP. 378)
Appointment of the Consumer
Affairs Council
IN exercise of the powers conferred by Article 4 of the Consumer Affairs Act, and for the purpose of that Act, the Minister for Justice, Culture and Local Government has appointed the members of the Board of Governors of the Consumer Affairs Council as follows:
Chairperson
Mr Martin Seychell
Deputy Chairperson
Ms Matilde Cordina
Members
Mr Rene Moseigneur
Ms Evelyn Chetcuti
Ms Angela Azzopardi
Mr Joseph Schembri
Secretary
Mr Ezekiel Psaila
These appointments are for a period of three years as from the 28th August 2017.
3rd October, 2017
No. 1066
RESPONSIBLE GAMING FOUNDATION
Appointment of Chairman
IT is hereby notified that, in terms of Legal Notice 12 of 2014 of the Lotteries and Other Games Act (Cap. 438), Mr Vincent Muscat has been appointed for one year, as Chairman of the Responsible Gaming Foundation, as from 25th September, 2017.
3rd October, 2017
No. 1067
PROSPECTUS
62+ Malta Government Savings Bond
Second Issue - October 2017
Summary of the Main Terms of the 62+ Malta Government Savings Bond (II) – October 2017:
The following summary should be read as an introduction to this prospectus and should be read in conjunction with the detailed information appearing in it. Prospective investors should base any decision to invest in this Bond on consideration of the prospectus as a whole.
Name of issuer: Government of Malta.
Title of the Bond: 62+ Malta Government Savings Bond (II) – October 2017.
ISIN Number: MT 4000010028
Amount on issue: €30,000,000.
Type: Fixed rate Bond.
Interest rate (coupon): The rate of interest of the 62+ Malta Government Savings Bond (II) – October 2017 is 3% p.a.
Issue Price: The Bond is denominated and issued at par in units of €100 where the amount paid is equal to the principal amount invested.
Who can invest? (1) Individuals born in 1955 or before who did not participate in the September 2017 issuance (Category A) and (2) applicants who applied for more than €5,000 in the first issuance and whose amounts were not allocated in full (Category B).
Amount that can be invested: An eligible individual who did not participate in the first issuance of the 62+ Malta Government Savings Bond – September 2017 can invest a minimum amount of €500 up to a maximum amount of €10,000 in this issuance. Individuals who applied for more than €5,000 in the first issuance can subscribe in the new issuance for the full unallocated amount.
Non-Transferable and non-negotiable debt Instrument: The 62+ Malta Government Savings Bond (II) – October 2017 cannot be negotiated, assigned or transferred onto any other individual or legal person and cannot be pledged.
When is the interest paid? The interest is payable semi-annual in arrears on 13th March and 13th September during the tenor of the Bond (unless withdrawn before) in the bank account nominated by the holder.
Tax: Resident Individual holders can opt to receive the interest net of tax or gross and declare the investment income (interest) received in the income tax return.
How can one invest in the 62+ Malta Government Savings Bond (II) – October 2017? Category A applicants can purchase the Bond from all authorised financial institutions and investment services providers between 8.30 a.m. of Monday, 16th October, 2017 and 5.00 p.m. of the same day.
Category B applicants can submit Application Form ‘B’ at any bank or other authorised Investment Services Providers between 8.30 a.m. of Monday, 16th October, 2017 and 5.00 p.m. of the same day.
The issuance can be closed before 5.00 p.m. of Monday, 16th October, 2017 at the discretion of the Accountant General.
Maturity: The 62+ Malta Government Savings Bond (II) – October 2017 will be repaid at par on 13th September, 2022.
Merger: The 62+ Malta Government Savings Bond (II) – October 2017 will be merged with the 62 + Malta Government Savings Bond – September 2017 Issue after the payment of the first interest i.e. on 13th March 2018.
What happens at the end of the investment term? The 62 + Malta Government Savings Bond is a special issue and therefore there is no guarantee that another issue will be available when the Bond is repaid.
Terms and Conditions
1. Application and Interpretation
(a) The 62+ Malta Government Savings Bond is a retail debt instrument offered by the Accountant General under the Government Borrowing and Management of Public Debt Act (Cap. 575) and is subject to the Malta Government Retail Savings Bonds Regulations (the Regulations) as amended or re-enacted from time to time.
(b) This prospectus is being published in accordance with article 25 (3) of the Government Borrowing and Management of Public Debt and regulation 4 of the Regulations. This prospectus in conjunction with the Government Borrowing and Management of Public Debt Act and Malta Government Retail Savings Bonds Regulations shall govern this issuance.
2. Definitions:
In these terms and conditions:
(a) “Accountant General” means the Accountant General of the Government of Malta who heads the Treasury Department;
(b) “Bond” the term Bond used in this prospectus means the 62+ Malta Government Savings Bond;
(c) “Bondholder” or “Holder” means any individual in whose name the Bond is entered in the register;
(d) “Business day” means a day other than a Saturday, a national or public holiday listed in articles 2 and 5(1) of the National Holidays and other Public Holidays Act, a bank holiday as declared under article 3(2)(b) of the Banking Act, or a day when the Trans-European Automated Real-time Gross settlement Express Transfer System (TARGET), owned and operated by the Eurosystem, is closed for business as may be published on the European Central Bank’s website; (
www.ecb.europa.eu);
(e) “Claims” in respect of the 62+ Malta Government Savings Bond include both the principal repayment and the interest due if any on the said 62+ Malta Government Savings Bond;
(f) “Eligible individual” means a natural person born in 1955 or before who is eligible to purchase and hold this Bond;
(g) “First issuance” means the 62+ Malta Government Savings Bond issued in September 2017 issued under the prospectus (Notice No. 925) dated 29th August 2017.
(h) “Individual” means a natural person;
(i) “Maturity date” is the date when the Bond falls due for repayment.
(j) “New eligible applicant” for the purpose of this prospectus means an individual who was eligible to participate in the 62+ Malta Government Savings Bond – September 2017 issuance but did not participate.
(k) “Regulations” the word regulations in this prospectus means the Malta Government Retail Savings Bonds Regulations.
3. Issuance of the 62+ Malta Government Savings Bond (II) – October 2017
In this issuance, the Accountant General is offering an amount up to a maximum of €30,000,000 of the 62+ Malta Government Savings Bond (II) – October 2017.
4. Investment Terms
The 62+ Malta Government Savings Bond (II) – October 2017 earns interest at a fixed rate of 3% per annum up to the maturity date. The term of the Bond starts on the date of issuance of the Bond, which is 20th October, 2017 up to the last day which immediately precedes the date of the maturity of the Bond set for the 13th September, 2022.
5. Who may Purchase the Bond?
(1) There are two categories of applicants who can participate in this issue:
(a) Category A: - Individuals born in 1955 or before who did not participate in the first issue. These applicants must also satisfy the conditions for eligibility listed in paragraph 5 (2).
(b) Category B: - Applicants who applied for more than €5,000 in the first issuance and whose amounts were not allocated in full. These applicants, if applicable, are also subject to satisfying the conditions of eligibility in paragraph 5 (2) (c), (d) and (e).
(2) Conditions for eligibility
(a) The Bond cannot be held jointly with another individual.
(b) Except of para 5 (c), the Bond is to be held in the applicant’s own name.
(c) Curators appointed by court can purchase and hold the Bond on behalf of eligible individuals who lack capacity including individuals interdicted by court.
(d) An individual or a legal person may purchase the Bond in the name of another eligible individual where acting under a valid Power of Attorney.
(e) In the case of a Bond purchased as per (c) and (d) above, the Bond shall be deemed to be held by the eligible individual on whose behalf it was purchased.
6. General Limitations
The following individuals are not eligible to invest in the Bond:
(i) In respect of Category A applicants, applications for underlying individuals submitted under the nominee or clients account system. Such condition has already been satisfied by the Category B applicants;
(ii) Individuals born in 1955 or before who lack capacity including individuals interdicted by Court unless the application is made in accordance with paragraph 5 (c); and
(iii) Individuals who are either non-EU citizens or non-EU residents for tax purposes.
7. Non Transferability
The Bond or any interest therein may not be transferred or assigned to any other individual or legal person or pledged, in whole or in part. There is no secondary trading market for the Bond.
8. Date of Issuance, applications and holding limits
(a) Applications open at 8.30 a.m. on Monday, 16th October 2017 and close at 5.00 p.m. of the same day, or earlier at the discretion of the Accountant General.
(b) The application form may be downloaded from Treasury’s website (
www.treasury.gov.mt) or obtained from, and lodged at, all authorised financial intermediaries.
(c) All applications will be irrevocable after closing time.
(d) (i) In respect of Category A applicants, the minimum amount of the Bond that may be purchased is €500 and the maximum holding in the Bond is €10,000 per eligible individual.
(ii) Applications are to be made in multiplies of €100 on the prescribed application form.
(e) Category B applicants can apply for the full amount not allotted as entered on the prescribed pre-printed letter by lodging Application Form B sent by the Treasury Department at any bank or other authorised Investment Services Providers. This application form is exclusively reserved for this category of applicants. Any applications received from this category of applicants on Application Form A will be rejected.
(f) The Accountant General has the right to reject the applications if (i) the applicant has failed to comply, in a material manner, with the terms and conditions contained in this prospectus or (ii) on any grounds whatsoever.
9. Evidence of identity
In respect of Category A applicants, the Accountant General reserves the right to conduct the necessary verification to confirm the identity, age and address of the applicant by using Government of Malta’s databases. In accepting the terms and conditions the eligible applicant confirms that s/he is aware that her/his identity, age and address can be checked.
10. Allotment Policy
(a) Applications received from Category A applicants will be subject to the same allocation policy applied for the applicants of the first issuance of the 62+ Malta Government Savings Bond as published via a press release on 28th September, 2017.
(b) The allocation policy of the first issuance of the 62+ Malta Government Savings Bond (September 2017) is as follows:-
(1) applicants that subscribed up to and including €5,000 were met in full;
(2) applicants that subscribed above €5,000 received a minimum of €5,000 per applicant plus an additional 22% of the remaining unallocated balance per applicant rounded up to the nearest €100.
(c) In the event where after applying the allocation policy applied for the first issuance of the 62+ Malta Government Savings Bond published on 28th September 2017 to the new eligible applicants participating in this issuance, the amount of €30 million is reached or exceeded, there shall not be any amounts left to be allocated to the applicants of the first issuance who opted to participate in this issuance.
(d) In the event that where after applying the allocation policy applied in first issuance on the second issuance, there remain amounts to be allocated from the issued amount, this will be allocated and distributed among all applicants who participated in the first and second issuance, whose applications were not accepted in full, in accordance with the discretion of the Accountant General.
(e) Refund of amounts in respect of applications which are not wholly allotted will be effected before the issue of the relevant Registration Advice.
(f) No interest is due on any unallocated amounts until such amounts are refunded.
11. Interest payments and interest payment dates
(a) The interest on this Bond is paid semi-annually in arrears on the 13th March and 13th September in every year during the tenor of the Bond at the rate of 1.5% calculated on the Face Value (nominal) of the Bond.
(b) The first pro rata interest payment covering the period from the 20th October, 2017 (the issue date) to the 12th March, 2018 (both dates inclusive) will be made at the rate of 1.193370 per cent on the 13th March, 2018.
(c) If an interest payment date falls on a non-business day, payment will be made on the next immediate business day without payment of additional interest.
12. Merger of the 62+ Malta Government Savings Bond issued in September and October
On the 13th March, 2018, after the payment of the first interest as indicated in paragraph 11(b), the two savings bonds shall be merged and thereafter shall be deemed to be as one savings bond to be known as the 62+ Malta Government Savings Bond.
13. Form of payments
(a) All payments in respect of this Bond must be made in Euro and to Euro denominated bank accounts for which the Accountant General has been supplied with a valid IBAN account number.
(b) In the case where Category B applicants will be allotted further Bonds in this issuance, the first interest payment on the amount allotted in the second issuance (October 2017) will be paid in the bank account indicated in the application form of the September 2017 issuance.
(c) The settlement of all types of payments linked to this Bond, including:
(i) Semi-annual interest payments;
(ii) refunds of unallocated monies;
(iii) early repayment of principal; and
(iv) redemption of the Bond on its maturity date,
shall be made by credit transfer through the Single Euro Payments Area (SEPA) scheme in the International Bank Account Number (IBAN) indicated in the respective application form or the latest bank account number (IBAN) held in the register.
14. Tax
(a) The interest earned from the 62+ Malta Government Savings Bond (II) – October 2017 is taxed in accordance to the investment income provisions of the Income Tax Act (Cap. 123 of the Laws of Malta). As stated in the information summary, resident individual holders can opt to receive the interest payment gross and declare the investment income earned in their income tax returns or net of tax (withholding tax).
(b) In the case where Category B applicants will be allotted further Bonds in this issuance, the tax option (gross or withholding tax) chosen in the first issuance will apply for the amount allotted in second issuance.
15. Early redemptions and cancellation
(a) Bondholders may withdraw the whole amount invested in the 62+ Malta Government Savings Bond before the maturity date of the Bond subject to the payment of a penalty for early redemption in terms of paragraph 17. No application for a partial withdrawal from individual’s holding will be entertained during the life of the Bond.
(b) Where Category B applicants opt to withdraw the amount invested in this issuance before the merger as stipulated in paragraph 12 (13th March, 2018), the amount invested in both issuances shall be withdrawn.
(c) Applications for early redemptions shall be made on the prescribed form which can be downloaded from the Treasury’s website and sent to the Treasury Department. The Accountant General will normally initiate the electronic transfer of funds within 30 days.
(d) Bondholders’ requests for early redemptions are irrevocable and cannot be withdrawn after they are submitted to and received by the Accountant General.
(e) The Bonds which are redeemed before the maturity date of the Bond as specified in this paragraph will be cancelled.
16. Calculation of accrued interest on early redemption
(a) Where the holder withdraws the principal before the first interest payment date, the holder shall be entitled to interest from the issue date of the Bond up to the last day which immediately precedes the repayment date.
(b) Where a holder withdraws the principal before the maturity date but after the first interest payment date, the holder shall be entitled to interest from the last interest payment date up to the last day which immediately precedes the early repayment date.
(c) In the case of inheritance occurring during the term of the Bond, upon the notification of the death of a Bondholder, the account is put on hold. The principal together with (i) withheld interest payments and (ii) accrued interest from the last interest payment date up to the last day which immediately precedes the repayment date of the Bond will be paid to the beneficiaries of the deceased Bondholder through the transmission Causa Mortis procedure. The Bond held by the deceased is not transferable onto the beneficiaries of the deceased Bondholder.
17. Penalty for early redemption
(a) Except where paragraph (c) applies, a penalty equivalent to three (3) months gross interest on the principal withdrawn, at the interest rate the Bond is earning, i.e. 3% per annum, will be deducted from the repayment. The formula for calculation and application of the penalty is as follows:
Penalty Amount = P x R x 3
12
Where: P is the principal amount withdrawn; and
R the annual interest rate of 3% the Bond is earning.
By way of examples, a Bondholder who invested:-
(1) the maximum permissible amount of €10,000 who opts for early redemption of the Bond will incur a penalty of €75.00
(2) an amount of €5,000 who opts for early redemption of the Bond will incur a penalty of €37.50.
(b) If there is insufficient interest due in the current interest period to meet the early redemption charge, an adjustment to the principal being repaid will be made to meet the penalty. If a Bondholder cashes in the Bond within the first three months of its commencement, the Bondholder will get back less than originally invested.
(c) No penalty will be charged where the Bond is repaid before maturity to the beneficiaries of the deceased Bondholder upon the instructions received from the notary or legal counsel of the heirs.
18. Redemption of the 62+ Malta Government Savings Bond
The 62+ Malta Government Savings Bond shall be redeemed at par on 13th September 2022.
19. Cut-off date for amendments in the register
The cut-off date established for entering amendments to the registered holder’s details such as address, tax option, bank account where interest is received or other similar changes is ten calendar days before the interest payment date.
20. Security
The principal and the interest payments thereon on this Savings Bond will be a charge on the consolidated fund and other public funds of the Government of Malta.
21. Registration advice and other statements
On registration, the 62+ Malta Government Savings Bond (II) – October 2017 Bondholders will receive a registration advice from the Malta Stock Exchange (MSE) through normal post or through the MSE’s internal electronic system managed by the MSE.
As soon as the holders receive the registration advice from the MSE they should examine it carefully and report any errors or omissions to the Accountant General as soon as possible. It is the responsibility of the Bondholder to ensure that the registration advice and other correspondence received in connection with this Savings Bond are kept safely.
22. Prescription
Claims in respect of the 62 + Malta Government Savings Bond issued under this prospectus will become prescribed unless presented for payment within six years from the maturity date of the Bond.
23. Data protection clauses
The Accountant General may process the personal data that the holder may provide in the Application Form in accordance with the Data Protection Act 2001 (Cap. 440 of the Laws of Malta).
24. Governing Law
The relevant legislation under which this Bond is being issued are (a) The Budget Measures Implementation Act (Cap. 572), (b) The Government Borrowing and Management of Public Debt Act (Cap. 575) and (c) the Malta Government Retail Savings Bonds Regulations.
25. Jurisdiction
Exclusive place of jurisdiction for any legal proceedings arising under the 62+ Malta Government Savings Bond is Malta.
26. Contact Details
Investors can obtain further information on the 62+ Malta Government Savings Bond and on other Government Securities by contacting the Treasury Department through one of the below listed contact details:
Address: Treasury Department, Development House, Level 2-3, Triq Sant’Anna, Floriana.
Telephone: 25967100 (General Line)
E-mail: (
[email protected])
Website: (
www.treasury.gov.mt)
3rd October, 2017
No. 1068
APPOINTMENT OF ACTING DIRECTOR
(SOCIAL WELFARE STANDARDS)
THE Permanent Secretary in the Ministry for the Family, Children’s Rights and Social Solidarity has approved the following acting appointment:
NAME POST DEPARTMENT DATE
Ms Rita Calleja Director Social Welfare Standards 3.10 - 5.10.2017
3rd October, 2017
No. 1069
APPOINTMENT OF ACTING DIRECTOR
LOCAL GOVERNMENT
THE Permanent Secretary within the Ministry for Justice, Culture and Local Government has approved the following acting appointment:
NAME POST DEPARTMENT DATE
Mr Silvio Frendo Acting Director Local Government 2nd - 6th October, 2017,
9th - 11th October, 2017
3rd October, 2017
REWS scheme amend Gaz 3.10.pdfNo. 1071
NOTARIAL PROFESSION AND NOTARIAL
ARCHIVES ACT
(CAP. 55)
Appointment of Notary Delegate/Keeper
IT is hereby notified that in exercise of the powers conferred by Article 20 of the Notarial Profession and Notarial Archives Act, the Court of Revision of Notarial Acts has appointed Notary Dr Anthony Abela to be Notary delegate and keeper of the Acts for Notary Dr Tiziana Maria Refalo for the period between the 28th September, 2017 and the 8th October, 2017.
Today, the 2nd of October, 2017.
JANET CALLEJA
For the Registrar, Court of Revision of Notarial Acts
No. 1072
GOLDSMITHS AND
SILVERSMITHS
ACT
(CAP. 46)
THE Commissioner of Inland Revenue notifies that, on the date shown hereunder, the price of gold and silver on which valuations made by the Consuls for Goldsmiths and Silversmiths are based has been fixed for the purposes of article 14 of the said Act as follows:
Date Pure Gold Pure Silver
Grams Grams
3.10.2017 €35.355 €0.487
3rd October, 2017
Door numbering Gaz 3.10.pdf 
