S.L. 575.4 Art. 3Scope.

(1) These regulations describe the arrangements for the issuance of Stock, a negotiable debt security with a maturity of more than one year known by the market as Malta Government Stock. The purpose of these regulations mainly covers the mechanism of issuance and operational arrangements in the primary market in respect of Malta Government Stocks issued in the domestic market which the Accountant General undertakes in implementing the debt management remit, including the issuance of:

(a) Conventional Fixed Rate Malta Government Stock;

(b) Floating rate Malta Government Stock; and

(c) other market operations.

(2) These regulations set out the normal market operations in the primary market, which the Accountant General undertakes in the Malta Government Stock market. In exceptional circumstances or when obliged by law to do so, the Accountant General may on occasion undertake operations at his discretion or as required by other statutory obligations.

(3) The applicability of the regulations is to be construed with the specific terms and conditions set out in the General Prospectus of Malta Government Stocks as well as the offering circular relating to each particular issue of Stock.