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Maltese Laws |
EURO ADOPTION ACT
To provide for measures connected with and ancillary to the adoption of the euro as the currency unit of Malta.
29th September, 2006
ACT X of 2006, as amended by Legal Notice 427 of 2007.
PART I
Preliminary
"Authority" or "Authorities" means any government department or entity, any public officer or employee within
any government department or entity or any body established by law wh ic h th e Prime Minister may designate from time to time
for any one or more purposes of this Act;
"euro" means the currency unit of the European Union as defined in Cou n cil Reg u l a tio n (EC) 97 4/ 98 of th e 3 May 19 98 on th e introduction of the euro;
"Minister" means the Minister responsible for Finance;
"prescribe" means prescri be by order o r by regul ati ons m ade under this Act;
"regulations" includes an order made under this Act;
"Statute" m eans the Proto co l on t h e St atut e o f the Euro pean System of Cent ral Banks an d of t h e Euro pean Cent
ral Ban k annexed to the Treaty;
"the Treaty" has the same meaning assigned to it by the European
Union Act.
Short title. Interpretation.
Cap. 460.
PART II
Powers of the Minister
(i) to prescribe a period or periods where it shall be mandatory to display prices both in euro and in Maltese
lira;
(ii) to regulate the display of prices, and the conversion of amounts appearing in invoices, receipts, statements
and other similar documents, in euro at any time when the euro is not yet the currency of
Power to make regulations. Amended by:
L.N. 427 of 2007.
Cap. 12.
Malta;
(iii) to limit or prohibit the imposition of charges for converting Maltese lira into euro;
(iv) to provide for the conversion of the value of shares and equity securities in companies and in other legal persons into euro;
(v) to provide for administrative procedures, penalties and, or fines, including daily fines for as long as the act or omission
persists, in case of infringement of provisions or regulations made under this Act and to designate the Authority or Authorities
that shall be entitled to conduct the said procedures and impose the said penalties or fines:
Provided that in prescribing administrative penalties and, or fines in any regulations made under this Act, the Minister:
(a) shall in all cases provide for the right to be heard to be respected before any administrative penalty and, or fine
is imposed;
(b) shall not prescribe any administrative fine that is less than six hundred and ninety-eight euro and eighty-one cents (698.81)
or exceeds three thousand and four hundred and ninety-four euro and six cents (3,494.06) for any administrative infringement
that may be prescribed and an administrative fine of not less than eighty-one euro and fifty-three cents (81.53)
and not exceeding four hundred and sixty-five euro and eighty-seven cents (465.87) for each day during which such administrative
infringement persists after notice of the said infringement has been given to the person accused of or found to have committed
such infringement, as such regulations may prescribe;
(c) shall not provide for the suspension of any trading or other licence as an administrative penalty for a period in
excess of fifteen days;
(d) shall in all cases, and without prejudice to the right of the Minister to reconsider the imposition of any administrative fine
or penalty, provide for a right of appeal from the decision to impose an administrative penalty and, or fine to the Court of Appeal
(Inferior Jurisdiction) as constituted in terms of article 41(6) of the Code of Organization and Civil Procedure subject to such procedures and fees as the Minister may prescribe:
(e) may provide for the enforcement pending appeal of any administrative penalty and, or fine subject to the power
of the Court of Appeal (Inferior Jurisdiction) to suspend or vary the
conditions of such enforcement;
(f) may provide that an administrative fine imposed in terms of regulations made under this Act shall constitute an executive title
for all the effects and the purposes of any law;
(g) may provide for powers of search and entry into premises, for powers to demand information and for obligations to give demanded
information and for the imposition, where he deems appropriate, of obligations of confidentiality in respect of information
obtained;
(h) may provide for the issuing of orders for the purpose of ensuring compliance with the provisions of this Act
or of any regulations made thereunder;
(i) may provide for periods of prescription in respect of administrative offences against this Act or any regulations
made thereunder which may not exceed two years;
(vi) to comply with any regulation, directive, decision, recommendation or other act or direction of the European Union
in respect of the euro currency;
(vii) to implement any international obligation of Malta or any international obligation which Malta intends to assume in respect
of the euro currency;
(viii) to provide on any other matter related to the implementation, regulation or supervision of euro adoption.
4. (1) Without prejudice to the provisions of the European Union Act the Prime Minister may, for the purpose of ensuring that any other law properly reflects th e adoption of the euro as the currency
of Ma lta an d t h a t Ma lt a’s Tr eat y a n d in te r n at i o n a l obligations related to, or arising out of the adoption
of the euro as the currency of Malta are implemented, by order prescribe that any o t her law b e amend e d for th e said pu rposes
and that such amendment shall have effect immediately subject to the provisions of article 11 of the Interpretation Act which shall apply to any such order.
(2) Orders made in relation to the amendment of primary laws and subsidiary legislation for the conversion of monetary amounts
from the Maltese lira to the euro may be made in the Maltese language only, o r in t he En glis h language on ly where any su ch
legislation or schedule thereof is published in the English language only.
(3) In this article the term "monetary amounts" includes an amount specified in numerals , words or symbols
or in a co mbi n at io n of n u m e r a ls, wo rd s an d symb ol s, h o w so ev er expressed in the amending order even if they
appear in a different manner than in the primary or subsidiary legislation.
(4) When in referring to any conversion of a monetary amount
Power to amend laws.
Cap. 460.
Cap. 249.
there are corresponding grammatical variations of words importing the singular, the plural, the masculine or the feminine, such words may also be altered, if the sense so requires and notwithstanding nothing being said in the amending order, so as to be interpreted as the plural, the singular, the feminine or the masculine respectively both in the order published in any one or both languages, and in the laws and regulations, if any, in the language version other than that which shall have been published.
Delegation of authority.
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URL: http://www.worldlii.org/mt/legis/laws/eaalisbc485c711