Malta Financial Services Authority Act (Cap. 330), article 9

9. (1) The Executive Committee shall be responsible for the implementation of the strategy and policies of the Authority, f or the approval of regulation, for the approval of and for the issuing of licences and other authorisations, and for the monitoring and supervision of persons and other entities licensed or authorised by the Authority in the financial services sector, for the enforce ment of the regulatory framework in the financial services sector, f or carrying out the day-to-day mana gement and the finances of the Authority including human resources and ancillary services, and for the general coordination of the Authority’s administrative affairs. (2) The Executive Committee may from time to time delegate in writing its functions and powers, on such matters and subjec t to such conditions and modalities as may be specified in the delegation, subject to the terms and duration as determined by the Executive Committee, to the Chief Executive Officer or one or m ore of the members of the Executive Committee, any one or more of t he sub-committees established by the Executive Committee or a func tion or unit of the Authority, as may be specified. Any decisions so made shall be approved by the Board of Governors and subsequently ma de public on the website of the Authority. (3) The Executive Committee shall also be responsible for establishing and empowering sub- committees, units and functions . The Executive Committee shall determine the respective remits o f the sub-committees, units and functions. (4) The Executive Committee shall consist of the Chief Executive Officer, who shall preside thereat, the General Couns el, and of each of the Chief Officers responsible respectively for supervision, enforcement, corporate services, operations, strategy, policy and innovation, and for any other aspect falling within the remit of the Authority as may be determined by the Board of Governors. (5) The Executive Committee shall designate one of the officers of the Authority, engaged in any of its functions ment ioned in sub-article (1), to act as Secretary to the Executive Commit tee for such period and under such t erms as the Executive Committee shall deem appropriate. 10 CAP. 330.] MALTA FINANCIAL SERVICES AUTHORITY (6) It shall be the duty of the Secretary to make the necessary preparations for the meetings of the Executive Committee and to keep minutes of those meetings. (7) The provisions of article 7, in so far as applicable, shall apply to the meetings of the Ex ecutive Committee as they apply to the meetings of the Board of Governors. (8) The Executive Committee may from time to time make internal arrangements to autho rize one or more of the senior officers, responsible for the approval of and for the issuing o f licences and other authorisatio ns, to sign a licence, category of licences or any other form of authorisation as it may deem appropriate. The Supervisory Council. Amended by: XIII.1994.12,14. Substituted by: XVII. 2002.106. Amended by: XIX. 2010.8.