S.L. 161.136 ст. 2CollectionAction Clauses (CACs).

The issuance of this stock is subject to the terms and conditions of the approved model Collective Action Clauses (CACs), which became mandatory in all new euro area government securities with maturity above one year issued on or after 1st January 2013, pursuant to the decision of the European Council of the 24th and 25th March 2011, and in accordance with paragraph 3 of Article 12 of the European Stability Mechanism (ESM) Treaty. The full terms and conditions of the model Collective Action Clauses (CACs) are published on the Treasury website at www.treasury.gov.mt under the section reserved for the Debt Management directorate.