CENTRAL BANK OF MALTA g S.L.204.01 1
SUBSIDIARY LEGISLATION 204.01
CENTRAL BANK OF MALTA BYE-LAWS
1st July, 1968
GOVERNMENT NOTICE 471 of 1968.
Title .
Bye-Laws.
PART I
Interpretation.
Cap. 204.
( b ) "Chairman" means the Governor or the Deputy
Governor, as the case may be, who shall preside at a
meeting of the Board in accordance with the
provisions of article 12(3) of the Act.
Expressions defined in the Act shall, unless the context
otherwise requires, have the meanings assigned to them in the Act.
PART II
Meetings of the 
Board.
3.  (1) Ordinarily, not less than ten days’ notice shall be given
of each meeting of the Board and such notice shall be sent by post
to every director at the address appearing in the Bank’s records as
his address for the delivery of notices and other communications
from the Bank. Should it be found necessary to convene an
extraordinary or emergency meeting, all reasonable steps shall be
taken to give as much notice as possible to every director who is at
the time in Malta. The accidental or unavoidable omission to give
any such notice to any of the directors, or the non-receipt of such
notice by any director, shall not of itself invalidate any act or
proceeding of the Board.
(2) No person other than the directors and the person appointed
to record the minutes shall attend meetings of the Board, but the
Chairman may request the presence of officials of the Bank when
technical matters are under consideration.
Minutes .
books provided for that purpose -
( a ) of the names of all directors present at each meeting of
the Board;
( b ) of all resolutions and proceedings of each meeting;
( c ) of all appointments of officers made by the Board.
(2) A copy of the minutes of each meeting shall be circulated to
each director at the next succeeding meeting and, after approval by
the Board, the minutes shall be signed by the Chairman.
2 g S.L.204.01 CENTRAL BANK OF MALTA
PART III
Declaration by 
directors.
5. Every director shall, on appointment or re-appointment,
sign a declaration, as set out in Form I in the Schedule, affirming
his allegiance and service to the Bank and pledging himself to
observe strict secrecy respecting all transactions of the Bank.
PART IV
The Board. 6. (1) The Board shall be responsible for the policy and
general administration of the affairs and business of the Bank.
(2) The appointment of auditors, attorneys, currency agents
and other agents of the Bank shall be made by the Board.
(3) The appointment of officials and other employees to posts
in the Bank in accordance with the provisions of article 13 of the
Act shall be made by the Board.
The Governor. 7. (1) The Governor, or in his absence, the Deputy Governor,
shall be in charge of the day-to-day management and of the conduct
of the Bank’s operation in accordance with the policy of the Board.
He shall have special responsibility for:
( a ) the organisation and management of the Bank at its
head office, branches and agencies;
( b ) causing true accounts to be kept of all transactions
entered into by the Bank and of the assets and
liabilities of the Bank and of all valuables entrusted to
the Bank;
( c ) causing to be compiled, transmitted and published the
reports and statements referred to in article 23 of the
Act;
( d ) the safekeeping of all the assets of the Bank and the
valuables entrusted to the Bank;
( e ) the discharge by officials and other employees of the
Bank of the duties laid upon them;
( f ) the supervision of arrangements relating to the issue
and redemption of notes and coin and all matters
connected with the form, design and composition of
notes and coin.
(2) The Deputy Governor shall perform such duties as the
Governor may from time to time direct.
Books. 8.  The books of the Bank shall be kept at the head office of
the Bank or at such other places as the Board may from time to time
determine.
Signing powers. 9. The Governor and the Deputy Governor shall be
empowered to sign documents relating to all aspects of the Bank’s
business. The Board may authorise such other officials of the Bank
to sign on behalf of the Bank and for such purposes as it may from
time to time decide.
CENTRAL BANK OF MALTA g S.L.204.01 3
Prohibition from 
engaging in trade 
and employment 
on other duties.
10. No official or other employee of the Bank shall engage
directly or indirectly either as principal or agent in any trade,
profession, business or occupy any other office or accept any other
employment, whether remunerated or not without the specific
permission of the Board, which will only be given in exceptional
circumstances, provided that this bye-law shall not prevent the
Bank from employing, at the Board’s discretion, persons part-time
for particular purposes and for specific periods of time.
Declaration by 
officials and 
employees.
11. All officials and employees of the Bank shall be required to
sign a declaration, as set out in Form II in the Schedule, affirming
their allegiance and service to the Bank and pledging themselves to
observe strict secrecy respecting all transactions of the Bank.
Security from 
officials and 
employees.
12. The Board may require any official or other employee to
give to the Bank in such manner as the Board may determine, such
security as it may regard reasonable, for the faithful discharge of
his duty.
SCHEDULE
FORM I
Declaration of Allegiance and Secrecy by Directors
I, ( 
Central Bank of Malta, do solemnly and sincerely declare that I
will faithfully perform the duties of director and that I will to the
best of my ability uphold the interests of the Central Bank of Malta
and that both during my service as a director of the Bank and after
the termination thereof, I will observe strict secrecy respecting all
the affairs and transactions of the Bank and all matters relating
thereto and that I will not directly or indirectly reveal any of the
matters or any information which may come to my knowledge in
the discharge of my duties unless I am authorized to do so by the
Board of the Bank or unless I am lawfully required to do so by a
competent authority.
 SIGNED ..................................
FORM II
Declaration of Allegiance and Secrecy by Officials and 
Employees
I, ( 
will faithfully perform the duties assigned to me and that I will to
the best of my ability uphold the interests of the Central Bank of
Malta and that both during my service with the Bank and after the
termination thereof, I will observe strict secrecy respecting all the
4 g S.L.204.01 CENTRAL BANK OF MALTA
affairs and transactions of the Bank and all matters relating thereto
and that I will not directly or indirectly reveal any of the matters or
any information which may come to my knowledge in the discharge
of my duties unless I am authorised to do so by the Board of the
Bank or unless I am lawfully required to do so by a competent
authority.
SIGNED ..................................
