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Malta Treasury Bills Act (Cap. 133) Directive On The Electronic Central Depository For Malta 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>–
1. The title of this Directive is the Directive on the Electronic
Central Depository for Malta Treasury Bills, 2007.
2. In this Directive, unless the context otherwise requires>– “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.
3. (1) The Central Securities Depository shall be the electronic central depository for Treasury bills issued under the Malta Treasury Bills Act.
(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.

Citation.

Interpretation.

Cap. 345.

Electonic Central Depository for Malta Treasury Bills.

B 736

Transitional

Arrangements.

4. (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.

Ippubblikat mid-Dipartiment ta’ l-Informazzjoni (doi.gov.mt) — Valletta — Published by the Department of Information (doi.gov.mt) — Valletta

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

Prezz#Price

Lm0.08 (€0.19)