Cap. 167 Art. 12Surpluses and deficits.

(1) If in any year the revenue of the Savings Bank shall be insufficient to defray the interest due to depositors and all expenses under this Ordinance, such deficiency shall be met out of the general revenue of the Government of Malta.

(2) If in any year the revenue of the Savings Bank shall be more than sufficient to defray the interest due to depositors and all expenses under this Ordinance, the Minister responsible for finance may direct the transfer of the surplus or any portion thereof to the general revenues of the Government of Malta: Provided that no such transfer shall be made unless the assets of the Savings Bank will thereafter exceed the liabilities by not less than fifteen per centum of the liabilities to depositors.

(3) If on 31st March in any year until the year 1979, and again on 31st December of the said year, and if on 31st December in any subsequent year in any year the assets of the Savings Bank exceed the liabilities by more than fifteen of the liabilities to per centum depositors, the Minister responsible for finance may direct that the surplus over fifteen or any portion thereof shall be per centum transferred to the general revenues of the Government of Malta.