S.L. 575.2 Art. 2Interpretation. Cap. 575.    Cap. 252.  Cap. 371.  Cap. 345.   Cap. 345.   Cap. 371.  Cap. 376.    Cap. 345.

In these regulations, unless the context otherwise requires:

"Accountant General" means the Accountant General of the Government of Malta who heads the Treasury Department;

"the Act" means the Government Borrowing and Management of Public Debt Act;

"ad hoc tenders" means an invitation by the Accountant General for selected institutional investors to participate in restrictive competitive tender process;

"auctions" means a public invitation for submission of bids for Treasury Bills in such manner as the Minister may direct;

"business day" means a day other than a Saturday, a national or public holiday listed in articles 2 and 5(1) of the National Holidays and other Public Holidays Act, a bank holiday as declared under article 3(2)(b) of the Banking Act, or a day when the Trans-European

Automated Real-time Gross Settlement Express Transfer System (TARGET), owned and operated by the Eurosystem, is closed for business as may be published on the European Central Bank’s website (www.ecb.europa.eu);

"bye-laws" has the same meaning as is assigned to it by article

2 of the Financial Markets Act;

"competent authority" means the person or body appointed by the Minister to carry out the functions of competent authority under the Financial Markets Act;

"cut-off rate" means the maximum rate set by the Accountant General at which bids are accepted; "institutional investors" includes credit institutions licensed by the Malta Financial Services Authority in terms of the Banking Act as well as financial institutions that are licensed by the Malta Financial

Services Authority in terms of the Financial Institutions Act;

"Malta" has the same meaning as is assigned to it by article 124 of the Constitution;

"Minister" means the Minister responsible for finance;

"publication" has the same meaning as assigned to it by article 2 of the Act;

"recognised investment exchange", means a person in regard to whom the competent authority has issued a recognition order in accordance with the Financial Markets Act. For the purposes of these regulations, recognised investment exchange means the Malta Stock Exchange;

"Register" has the same meaning as assigned to it by article 2 of the Act;

"Registrar" means the Treasury Department or the Treasury Department’s designated Registrar. For the purposes of these regulations, the registrar of Malta Treasury Bills is the Central Securities Depository (CSD) of the Malta Stock Exchange;

"standard tenders" means a public invitation for submission of offers for Treasury Bills which are normally held regularly on a weekly basis and announced in advance by the Accountant General in any media available to disseminate the information to the market including but not limited to the Gazette;

"Treasury Bills" means a short-term debt security with a maturity of one year or less from the date of issuance issued typically at a discount from face value.