Issue link: https://maltatoday.uberflip.com/i/1385129
7 maltatoday | SUNDAY • 20 JUNE 2021 NEWS MALTA GOVERNMENT STOCK FOR SAFE INVESTMENT AND LIQUIDITY WITH INTEREST PAID UP TO THE DAY OF RE-SALE OF STOCK ◆ SECURITY ◆ CONTINUOUS LIQUIDITY ◆ INTEREST EVERY SIX MONTHS ◆ (The value of the investment may go up or down during the tenor of the Stock.) Treasury Department, Development House, Level 2-3, St. Anne Street - Floriana, Malta Secure Investment Issue of €50,000,000 Fixed Rate Malta Government Stocks (subject to the over-allotment option up to a maximum of €30,000,000) MALTA GOVERNMENT STOCKS STOCK TAL-GVERN __________ (i) 0.25% Malta Government Stock (Third Issue) Fungibility Issue maturing in 2026, and The Price for each Stock at (i) and (ii) above, offered for subscription by members of the public shall be established on Monday 21 st June 2021, based indicatively on the prevailing secondary market prices, and shall be announced through a Press Release issued by the Department of Information (DOI). (ii) 1.80% Malta Government Stock (First Issue) maturing in 2051, or (iii) Any combination of the above two stocks which in the aggregate shall be € 50,000,000 Fixed Rate Malta Government Stocks Applications from members of the public for an amount up to a maximum of €100,000 per person in anyone or in every of the two stocks on offer open on Wednesday 23 rd June 2021 at 8.30 a.m. and close at 2.30 p.m. on Friday 25 th June 2021; and Applications from wholesale investors in the form of sealed bids (auction) open on Monday 28 th June 2021 at 8:30 a.m. and close at 12.00 (noon) (CET) on Wednesday 30 th June 2021, or earlier at the discretion of the Accountant General. The application forms may be obtained from, and lodged at, all Members of the Malta Stock Exchange and other authorized Investment Service Providers on the indicated dates. Application forms may also be downloaded from the Treasury's website at www.treasury.gov.mt with effect from Tuesday 22 nd June 2021. Bids on the prescribed forms are to be transmitted by e-mail at the e-mail addresses indicated on the application forms. The Treasury announces the issue of €50,000,000 Malta Government Stocks subject to an over- allotment option up to a maximum of €30,000,000 as follows: KARL AZZOPARDI THE Nationalist Party has so far been unable to formulate a political response to a White Paper on the legalisation of recreational cannabis and home-growing. Having already dubbed La- bour's policy as just a "vote-win- ning exercise", the PN's work- ing group on cannabis reform is however still discussing its posi- tion, a party spokesperson said. The group is stil holding meet- ings with interested parties are still ongoing, "following addi- tional requests by stakeholders to form part of the PN's consul- tation process." "The scope of the working group is to lead a wide consulta- tion process with all the stake- holders which will eventually sustain the arguments which the Opposition will put forward once the Bill is presented to Parliament for discussion," the spokesperson said. The PN's working group in- cludes lawyer Martina Caruana, MPs Claudio Grech, Claudette Buttigieg, Karl Gouder, Therese Comodini Cachia and Stephen Spiteri, as well as the presidents of youth organs Team Start, Eve Borg Bonello, and MZPN, Jo- seph Grech. Although hardly a main issue in Maltese politics, the PN's position on cannabis will be a test for a party that has histor- ically struggled to chip away at its conservative shell on such issues. Both the Labour Party and ADPD have made their posi- tions known on the issue, call- ing for the regulation and legal- isation of cannabis. The White Paper's public con- sultation process has already saw 350 submissions from var- ious organisations and individ- uals. The proposed policy is for the full decriminalisation of canna- bis possession up to 7g, for per- sonal use, and for prosecutions on amounts over 7g but less than 28g, to take place before the Commissioner of Justice, rather than a criminal court. Residential homes will also be allowed to cultivate up to four cannabis plants per household, apart from the expungement of cannabis-related criminal re- cords. The Justice Ministry said that government is currently ana- lysing the feedback received through the public consulta- tion. "These submissions will in- form the legislative amend- ments, the main principles of which were of course proposed in the White Paper." The ministry said a Bill will take form in the coming weeks. kazzopardi@mediatoday.com.mt PN drags feet on cannabis reform Justice ministry's legalisation Bill expected in coming weeks but PN position yet to be formulated