S.L. 575.1 Art. 4Issue,purchaseand the administration of Malta Government Retail Savings Bonds.

(1) The Accountant General shall publish a prospectus for each Retail Savings Bond issue as authorised by the

Minister prior to the Retail Savings Bond being offered for subscription to eligible investors.

(2) The prospectus governing the issue of the Retail Savings Bonds shall specify amongst others the following:

(a) the title and type of the Retail Savings Bond, the annual rate of interest (coupon) payable on the bonds and the denomination of the Retail Savings Bond;

(b) the eligibility of the individuals entitled to purchase and hold the Retail Savings Bonds;

(c) the minimum and maximum holding of Retail Savings Bonds by any holder;

(d) the date or the dates when the interest on the Retail Savings Bonds shall be paid;

(e) the date of maturity of the Retail Savings Bonds and the rate at which it will be repaid;

(f) the mode of how the repayment of principal and interest shall be made;

(g) the conditions related to the early redemptions of the Retail Savings Bonds requested by holders; and

(h) any other terms and conditions specifically applicable to the Retail Savings Bonds on issue.

(3) An application to purchase Retail Savings Bonds must be made in the approved form, and the applicant must provide the Accountant General with any documents or other information required.

(4) It shall be lawful for the Accountant General to issue, promote and administer the Retail Savings Bonds on behalf of the Government.

(5) The Accountant General may issue the Retail Savings Bonds either directly or through the appointment of one or more licensed financial institutions and licensed investment services providers, as considered appropriate, to sell the Retail Savings Bonds on behalf of the Government. The Accountant General may enter into any contract or agreement relating to such terms and conditions that he may consider appropriate.

(6) The Retail Savings Bonds shall be registered and maintained only in electronic format by the appropriate entry in the register of the Treasury Department, or its designated Registrar, by entering therein the name and address of the holder, the amount held, coupon interest rate payable, and such other particulars as may, from time to time, be considered necessary by the Accountant General.

(7) For the purposes of sub-regulation (6), the Register of Retail Savings Bonds shall be maintained by the Central Securities Depository (CSD) of the Malta Stock Exchange. The Minister may however designate any other recognised domestic electronic central securities depository to provide the services and functions of a registrar in terms of sub-regulation (6).

(8) Retail Savings Bonds shall not be transferable from the name of the holder onto the name of another person at any time.