S.L. const.2 Art. 120IThe Standing Committee on Economic and Financial Affairs.

(1) The Standing Committee on Economic and Financial Affairs shall:

(a) on its own initiative, consider from an economic and financial perspective, any decision, recommendation or report published locally, by the European

Institutions or by international organisations, that could have an impact on the Maltese economy;

(b) request persons appointed by the Government of Malta to represent it on the governing and administrative organs of the European Stability Mechanism (ESM), as provided for in article 7 of the Participation and Granting of Financial Stability Support under the European Stability Mechanism Act, to appear before the committee for the purpose of rendering account of the workings of the ESM and of the European Financial Stability Facility (EFSF);

(c) request the Governor of the Central Bank of Malta to appear before the committee as provided for in article 8(6) of the Central Bank of Malta Act;

(d) consider every matter or report that may be referred to it by the House or the Standing Committee on House Business; and

(e) consider every matter or report that may be referred to it by a committee of the House.

(2) The Standing Committee on Economic and Financial Affairs shall be constituted of not more than seven members, where four members shall constitute a quorum. The members should be chosen in such manner as appears practicable to the House as fairly to represent the House in general and the proportion of Government and Opposition members in the House in particular.

(3) One of the members nominated by the Government shall be appointed as Chairman of the committee.

(4) The provisions of paragraphs (3) and (4) of standing order 120B shall apply to the Standing Committee on mutatis mutandis Economic and Financial Affairs.