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The Malta Membership Of The European Bank For Reconstruction And Development (Amendment) Act, 2005 (Bill No. 41)

A BILL

entitled

AN ACT to amend the Malta Membership of the European Bank for

Reconstruction and Development Act, Cap. 347.

BE IT ENACTED by the president, by and with the advice and consent of the house of representatives in this present Parliament assembled, and by the authority of the same, as follows>
1. (1) This Act may be cited as the Malta Membership of the
European Bank for Reconstruction and Development (Amendment) Act,
2005, and it shall be read and construed as one with the Malta Membership of the European Bank for Reconstruction and Development Act, hereinafter referred to as “the principal Act.”.
2. In article 2 of the principal Act, in the definition “Agreement”, the words “, and for the purposes of sections 4 and 6 of this Act,” shall be deleted.
3. For article 3 of the principal Act there shall be substituted the following>–

Short title.

Amendment of article 2 of the principal Act.

Substitution of article 3 of the principal Act.

“Authorisation for acceding

to the

Agreement.

Cap. 304.

3. In virtue of this Act, and in compliance with the provisions of the Ratification of Treaties Act -
(a) the Government of Malta is hereby authorised to ratify the Agreement< and
C 102

Substitution of article 6

of the principal Act.

(b) the Government of Malta is hereby authorised to ratify any amendment as may be made to the Agreement from time to time.”.
4. For article 6 of the principal Act there shall be substituted by the following>

“Power to make regulations.

6. The Minister may make regulations as may be necessary for carrying into effect any of the provisions of the Agreement and in particular, but without prejudice to the generality of the foregoing, for the amendment of the Schedule to this Act for the purpose of aligning it to the Agreement as it may be amended from time to time.”.

Amendment of the Schedule to the principal Act.

5. Immediately at the end of Article 1 of Chapter 1 of the Schedule to the principal Act, there shall be added the following>
“The purpose of the Bank may also be carried out in Mongolia subject to the same conditions. Accordingly, any reference in this Agreement and its annexes to “Central and Eastern European countries”, “countries from central and Eastern Europe”, “recipient country (or countries)”, “ or “recipient member country (or countries)” shall refer to Mongolia as well”.

Objects and Reasons

The Bill provides for Malta, as a member country of the European Bank for Reconstruction and Development, to bring into force a Resolution to admit Mongolia as a country of operations and to give enabling powers to the Minister responsible for finance to ratify such amendments as may from time to time be made to the EBRD Agreement.