S.L. 575.4 чл. 2Interpretation. Cap. 575. Cap. 252. Cap. 371. Cap. 345. Cap. 345.

In these regulations, unless the context otherwise requires:

"Accountant General" means the Accountant General of the Government of Malta who heads the Treasury Department;

"the Act" means the Government Borrowing and Management of Public Debt Act;

"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 European Central Bank’s website;

"Central Securities Depository" has the same meaning as is assigned to it by article 2 of the Financial Markets Act;

"combined issuance" means a two-pronged participation mechanism in a Malta Government Stock issue, offered for subscription:

(a) in part non-competitively at pre-announced fixed price for up to a specified amount per person intended for the retail segment; and simultaneously

(b) by competitive auction;

"competent authority" means the person or body appointed by the Minister to carry out the functions of competent authority under the Financial Markets Act;

"conversions and switch auctions" mean the methods by which one stock can be exchanged for another;

"cut-off price" means the minimum price set by the Accountant General at which bids are accepted;

"claims" in respect of Malta Government Stocks include both the principal repayment and the interest due, if any, on the said Malta Government Stocks;

"General Prospectus" means the legal document to be issued by the Accountant General and approved by the competent authority, which supplements and is subject to the specific terms and information set out in the offering circular. The General Prospectus sets out some of the important terms of such Malta Government Stocks and information relating to it including:

(a) information about mechanism of issuance;

(b) methods of application for Stock;

(c) allotment policy;

(d) settlement of successful bids;

(e) refunds of monies in respect of unallocated retail subscriptions;

(f) full terms of the Collective Action Clauses (CACs);

(g) taxation;

(h) the jurisdiction; and

(i) the governing law;

"Government" means the Government of Malta unless otherwise specified;

"Malta" has the same meaning as is assigned to it by article 124 of the Constitution;

"Minister" means the Minister responsible for finance;

"offering circular" means a circular to be issued by the Accountant General to announce the issuance of Malta Government Stocks and to specify amongst others the sum of money to be raised, the mode or modes of raising such stock; the coupon interest payable on the stock; the date or dates when the interest on the stock shall be payable; the settlement date and the date of redemption of the Stock;

"person" means a natural or legal person;

"pre-announced fixed price" means the price payable per €100 nominal Malta Government Stock published in advance by the Accountant General in respect of the non-competitive subscription part of a Malta Government Stock issuance, which part is intended for retail investors;

"publication" has the same meaning as assigned to it by article 2 of the Act;

"Register" has the same meaning as assigned to it by article 2 of the Act;

"Retail Investors" mean non-professional investors typically made-up of members of the public;

"sinking fund" has the same meaning as assigned to it by article 2 of the Act;

"stockholder" means any natural or legal person in whose name or names the Malta Government Stock is entered or registered in the Register;

"Stocks" means the Malta Government Stocks issued pursuant to these regulations.