Financial Markets Act (Cap. 345), article 12

12. (1) Unless otherwise expressly provided in this Act or in the provisions of any other app licable law, no securities shall be: (a) offered to the public in Malta unless and until a prospectus is approved by the competent authority; and (b) eligible for admission to listing and trading on a local regulated market unless and until the competent authority has approved the admissibility to listing of those securities. (2) Deleted by Act XI.2025. 10. (3) A local regulated market ma y admit to listing and trading to the recognised list concerned su ch securities as may be conside red appropriate and which - (a) do not fall within a descrip tion or category specified in any regulations made in accordance with article 14A as not being admissible to listing on any local regulated market; and (b) have been authorised as admissible to listing by the competent authority. Exemptions. Added by: XLVI.2021.17.