Legislation
Malta Financial Services Authority Act (Cap. 330)
- Art. 1The short title of this Act is the Malta Financial Services Authority Act. Interpretation. Amended by: XV . 19
- Art. 2In this Act unless the context otherwise requires: ''Authority'' means the Malta Financial Services Authority
- Art. 2AIn this Act and in any regulatio ns made thereunder, if there is any conflict between the English and Maltese
- Art. 3(1) There shall be an authority, to be called the Malta Financial Services Authority. (2) The Authority shall
- Art. 4(1) Without prejudice to any other power or function conferred to it by this Act or any other law, it shall be
- Art. 4AThe granting of a licence is a concession and a revocable privilege, and no holder thereof shall be deemed to
- Art. 5(1) The main organs of the Authority are the Board of Governors, the Executive Comm ittee and Directorates as
- Art. 6(1) The Board of Governors shall establish the policies to be pursued by the Authority. In determining such po
- Art. 7(1) The Board of Governors shall meet as often as may be necessary or expedient but in any case not less frequ
- Art. 7A(1) Without prejudice to the functions and powers of the Board of Governors under this Act or any other law, t
- Art. 7B(1) The Board of Governors shall also act as the Resolution Authority, which shall be the authority appointed
- Art. 7CFor the better carrying out and implementation of the provisions of the First Schedule and the BRRD , the Auth
- Art. 8The legal and judicial representation of the Authority shall vest in the Chief Executive Offi cer, or in such
- Art. 9(1) The Executive Committee shall be responsible for the implementation of the strategy and policies of the Au
- Art. 10Deleted by VIII of 2019 The Enforcement Decisions Committee. Amended by: XV .1989. 5; XXXI. 1990. 3; XIII.1994
- Art. 11(1) The Enforcement Decisi ons Committee shall decide or take such action as it considers appropriate, promptl
- Art. 12(1) It shall be the function of the Enforcement Directorate to: (a) deal with e nforcement: (i) under the prov
- Art. 12A(1) It shall be the function of the Audit Committee to: (a) determine whether the governance, controls and ris
- Art. 12B(1) It shall be the function of the Internal Audit Unit to examine, evaluate and report upon the adequacy and
- Art. 13(1) The Authority may appoint Deputy Chief Executive Officers, Chief Officers, Heads, Deputy Heads and suc h o
- Art. 14(1) The Authority shall arrange for the dissemination in such form and manner as it considers appropriate of s
- Art. 15Without prejudice to any provisions of other laws, the Minister may, acting on the advice of the Authority, ma
- Art. 16A(1) The Authority shall, on an annual basis, contact the office of the Attorney General and the Commissioner o
- Art. 17(1) Other than for the proper discharge of their duties or functions under this or any other Act, or as may be
- Art. 17AWhen upon information received from the Authority, the Attorney General has reasonabl e cause to suspect that
- Art. 17BWhen a person is charged with a criminal offence in breach of this Act or with an offence whic h is a relevant
- Art. 18(1) The Central Bank of Malta and the Authority shall on request exchange information in their possession whic
- Art. 19(1) The Authority may investigate any matter which: (a) relates to the functions exercisable by the Authority
- Art. 20Deleted by Act XVI. 2017.44. Power to make regulations. Added by: XX. 2007.10. Amended by: II. 2010.3; X. 2011
- Art. 20A(1) The Minister, acting on the advice of the Authority, may make regulations to transpos e, implement and giv
- Art. 20BThe Minister may, acting on the advice of the Authority, make regulations to regulate distance selling arrange
- Art. 20C(1) The Minister may, acting on the advice of the Authority, make regulations for the transposition of Directi
- Art. 20D(1) The Minister, acting on the advice of the Resolution Authority, may make regulations for the following pur
- Art. 20EThe Minister may, acting on the advice of the Authority, make regulations for the following purposes: (a) to i
- Art. 20FRegulations which are required to be issued by the Minister upon the advice of the Authority or after consulta
- Art. 21(1) There shall be a tribunal to be called ''The Financial Services Tribunal'', in this Act also referred to a
- Art. 22The revenue of the Aut hority shall consist of: (a) income derived in respect of licences, authorisations and
- Art. 23(1) The Executive Committee shall cause to be prepared in respect of each financial year and shall not later t
- Art. 24(1) The Authority may: (a) hold accounts with any bank; (b) invest any of its liquid assets in short and mediu
- Art. 25The Minister may make advan ces to the Authority of such sums as he may consider to be required by the Authori
- Art. 26(1) The Authority shall establish a Reserve Fund to which the surplus for the year estab lished in the Audited
- Art. 27(1) The Authority shall cause to be kept proper books of accounts and other records in respect of its operatio
- Art. 28The Authority shall, as soon as may bebut not later than six months after the close of each financial year, tr
- Art. 29(1) The Authority, including the members of the Board of Governors when acting in any function assigned to the
- Art. 30The Authority shall be exempt from any liability for the payment of income tax, duty on transfers and document
- Art. 31(1) Any decision taken by the Co-ordination Committee, the Supervisory Council and the Board of Management and
Text read from the consolidated PDF published by Legislation Malta. Tables, figures and marginal notes may be incomplete or out of place: the official PDF is authoritative. General information, not legal, tax or accounting advice.