                         MALTA TREASURY BILLS   [ CAP. 133.      1
CHAPTER 133
MALTA TREASURY BILLS ACT
To provide for the issue and payment of Malta Treasury Bills.
(17th January, 1952) *
Enacted by ACT II of 1952, as amended by Acts: VI of 1952, IX of 1955;
Ordinance XXV of 1962; Act II of 1963; Legal Notice 46 of 1965; and
Acts: XXII of 1976, XIII of 1983 and XIX of 1995.
Short title.
Interpretation.  
Amended by: 
II. 1963.2; 
XIX.1995.2.
2. In this Act -
"auctions" means a public invitation for submission of bids for
treasury bills in such manner as the Minister may direct; 
"Malta" has the same meaning as is assigned to it by section 124
of the Constitution;
"Minister" means the Minister responsible for finance;
"prescribed" means prescribed by the Minister.
Raising money by 
treasury bills. 
Amended by: 
VI. 1952.2; 
IX. 1955.2; 
L.N. 46 of 1965; 
XXII. 1976.4; 
XIX.1995.3.
3. The Minister whenever authorised thereto by resolution of
the House of Representatives may raise money not exceeding the
amount specified in such resolution by the issue of bills under this
Act for the purpose of providing temporary borrowing to meet
monetary liquidity requirements to finance Government
expenditure.
Form and currency 
of treasury bills. 
Amended by: 
VI: 1952.3; 
IX. 1955.2; 
XXV.1962.5; 
XXII. 1976.4: 
XIII.1983.4,5; 
XIX.1995.4..
4. (1) A bill under this Act (hereinafter referred to as a
treasury bill), shall be a bill in the prescribed form for the payment
of the principal sum named therein in the manner and at the date
therein mentioned, so that the date be not more than twelve months
from the date of the bill.
(2) Every treasury bill shall be signed by the Accountant
General after his authorisation in writing for the purpose by the
Minister.
(3) Every treasury bill shall be for a sum of one thousand liri or
a multiple of one thousand liri.
Issuing of treasury 
bills. 
Amended by: 
VI.1952.4; 
XXII. 1976.4. 
Substituted by: 
XIX.1995.5.
5. Treasury bills may be issued in the following ways:
( a ) by holding auctions and issuing treasury bills to
persons whose bids are accepted; or
( b ) by the issue of treasury bills at fixed rates of discount. 
* See  Government Notice No. 20 of 18th January, 1952.
  2        CAP. 133. ]             MALTA TREASURY BILLS    
Charge of treasury 
bills on 
Consolidated 
Fund. 
Amended by: 
VI. 1952.5; 
IX. 1955.2; 
L.N. 46 of 1965; 
XXII. 1976.4; 
XIX.1995.6.
6. (1) All money raised by the issue of any treasury bill shall
be paid into the public account of the Government of Malta.
(2) Proceeds of treasury bills shall be charged on and paid out
of the Treasury Clearance Fund and interest thereon shall be paid
out of the Consolidated Fund.
Treasury bills in 
lieu of bills paid 
off. 
Amended by: 
II.1963.3; 
XXII. 1976.4.
7. Where any treasury bills are or are about to be paid off, the
Minister may for the purpose of replacing the amount required to
pay off the principal money of such bills or any of them, raise a
sum not exceeding the amount of such principal money by the issue
of treasury bills.
Exemption from 
duty. 
Amended by: 
XIX.1995.7.
Cap. 364.
8. Treasury bills shall not be subject to any duty under the
Duty on Documents and Transfers Act.
Cancellation of 
treasury bills. 
Substituted by: 
VI.1952.6. 
Amended by: 
IX. 1955.2. 
Substituted by: 
XXII. 1976.4.
9. Upon repayment of the principal money represented by the
treasury bill, the bill shall be delivered up to the Accountant
General to be by him cancelled.
Conditions 
governing treasury 
bills. 
Substituted by: 
II.1963.4; 
XIX.1995.8.
10. A treasury bill issued under this Act shall, unless expressly
provided by law, continue to be governed by the conditions
prevailing at the time of its issue, until it is repaid.
Electronic  central 
depository for 
treasury bills. 
Added by: 
XIX.1995.9.
11. (1) The Minister may issue directives for the creation of
an electronic central depository for treasury bills and for the
institution of an electronic book entry transfer system.
(2) Notwithstanding anything contained in this Act, the
provisions relating to the issue of treasury bill certificates shall not
apply in the case of bills registered under the electronic central
depository for treasury bills.
Regulations. 
Added by: 
XIX.1995.9.
12. (1) The Minister may make regulations to prescribe or
provide for -
( a ) the preparation, form, mode of issue, registration,
negotiation, payment and cancellation of treasury
bills;
( b ) the issue of a new treasury bill in lieu of a defaced, lost
or destroyed bill;
( c ) the creation of an electronic central depository for
treasury bills and services related thereto; and
( d ) such other matters as may be deemed to be necessary
for the purpose of carrying the provisions of this Act
into effect.
                         MALTA TREASURY BILLS   [ CAP. 133.      3
(2) All regulations under this Act shall be published in the
Gazette and laid before the House of Representatives.
