Legislation
Banking Act (Cap. 371)
- Art. 2(1) In this Act, unless the c ontext otherwise requires - "account information service" shall have the same me
- Art. 2AA person that is not a credit institution shall be prohibited from carrying on the business of taking deposits
- Art. 3(1) The Minister, acting on the advice of the competent authority, may make, amend or re voke regulations to g
- Art. 4(1) It shall be the duty of the c ompetent authority to carry out the functions and duties prescribed by this
- Art. 4A(1) In the exercise of its duti es, the competent authority shall take into account the conver gence in respec
- Art. 4B(1) Without prejudice to any of the powers conferred on it in this Act, the competent authority may, whenever
- Art. 4CWithout prejudice to the functions, powers and duties assigned to the competent author ity by this Act, the co
- Art. 5(1) No business of banking shall be transacted in or from Malta except by a company which is in possession of
- Art. 6(1) Any company desirous of commencing the business of banking in Malta shall, before commencing any such busi
- Art. 6A(1) Undertakings referred to in point (1)(b) of Article 4(1) of the CRR which have already obtained a licence
- Art. 7(1) No company shall be g ranted a licence unless - (a) its initial capital amounts to not less than five mill
- Art. 7A(Deleted by Act II. 2011.9 .). Prior consultation with overseas regulatory authorities. Added by: X. 2015.11.
- Art. 7B(1) The competent authority sha ll, before issuing a licence to a credit institution, consu lt the overseas re
- Art. 8(1) A company licensed or holding an equivalent authorisation in another country outside Malta which carries o
- Art. 8ACompanies which have established, or which intend to establish representative offices in Malta may be required
- Art. 9(1) A licence shall automatically cease to have any effect if the holder - (a) renounces the licence; or (aa)
- Art. 10Any person who is aggrieved by a decision and, or measure taken by the competent authority pursuant to this Ac
- Art. 11(1) A credit institution licensed in Malta shall inform the competent authority in writing before opening a ne
- Art. 11A(1) The competent authority shall not apply provisions which result in more favourable treatment to a branch o
- Art. 11B(1) Parent financial holding companies, parent mixed financial holding companies, EU parent financial holding
- Art. 11C(1) Without prejudice to the derogation provided for in article 38(3), a credit institution licensed in terms
- Art. 12(1) Subject to sub-articles (2) and (3), save with the written permission of the competent authority, no perso
- Art. 13(1) Notwithstanding anything contained in any other law, any person or persons acting in c oncert (hereinafter
- Art. 13A(1) The competent authority shall, promptly and in any event within two working days f ollowing receipt o f th
- Art. 13B(1) The competent authority shall work in full consultation with overseas regulatory authorities in other Memb
- Art. 13C(1) Notwithstanding anything contained in any other law and without prejudice to articles 11B, 13(1) and 13(3)
- Art. 13DIn determining whether the criteria for a qualifying shareholding are fulfilled, the voting rights referred to
- Art. 14(1) Any person who is a controller or director of a credit institution shall be a suitable person to exercise
- Art. 15(1) A credit institution shall not - (a) grant any credit facility against the security of its own shares or a
- Art. 16(Deleted by Act X. 2015 .23). Own funds. Added by: XVII. 2002.173. Amended by: XX. 2007.85, 98; XVII. 2009.21;
- Art. 16BThe competent author i t y s h a ll i s s ue a B a n ki n g R ul e a s i t shall consider appropriate for th e
- Art. 17(Deleted by Act X. 2015 .26). Measures aimed at addressing credit risks. Added by: XVII. 2002.175. Amended by:
- Art. 17AThe competent authority may issue a Banking Rule as it considers appropriate for the im plementation of measur
- Art. 17B(1) Every credit instituti on shall put in place robust governance arrangements which include a clear organisa
- Art. 17CAll credit institutions shall have in place sound, effective and complete strategies and processes to assess a
- Art. 17D(Deleted by Act X. 2015 .29). Transactions with parent mixed activity holding companies and their subsidiaries
- Art. 17DACredit institutions shall h ave in place adequate risk management processes and internal control mechanisms, i
- Art. 17E(1) The competent authority shall require a credit institution to take the necessary measures at an early stag
- Art. 18The competent authority may issue a Banking Rule specifying what shall constitute the specified liquid assets
- Art. 19(1) A credit institution shall submit to the competent authority - (a) periodic statements showing its assets
- Art. 19A(1) Where a credit institution intends to outsource its material services or activities, it shall first inform
- Art. 19B(1) Credit institutions shall grant payment institutions, electronic money institutions and account informatio
- Art. 19C(1) Without prejudice to the application of Chapter II of the DORA Regulation, credit institutions shall estab
- Art. 19D(1) Deleted by Act XI.2025. 33. (2) Deleted by Act XI.2025. 33. (3) Deleted by Act XI.2025. 33. (4) Deleted by
- Art. 20(1) Every credit institution licensed in terms of this Act, and where applicable, a financial ho lding company
- Art. 21(1) Any officer, employee, agent or inspector of the competent authority may, on pro ducing, if required, evid
- Art. 22(1) If it appears to the competent authority desirable to do so in the interests of the depositors or potentia
- Art. 23(1) Where the competent authority has reasonable grounds for suspecting that a person has contravened or has f
- Art. 24No person who knows or suspects that an investigation is being or is likely to be carried out - (a) under arti
- Art. 25(1) On the basis of Malta’s international commitments, the competent authority may share its supervisory dutie
- Art. 25AThe competent authority shall cooperate closely with overseas regulatory authorities in all matters with respe
- Art. 25B(Deleted by Act X. 2015 .38). Verification of information in specific cases. Added by: XX. 2007.110. Re-number
- Art. 25C(Deleted by Act X. 2015 .39). 64 CAP. 371.] BANKING Communication by auditors, etc., with the competent author
- Art. 26(1) The disclosure in good faith to the competent authority by - (a) an auditor of a credit institution, finan
- Art. 27Repealed by Act XVII. 2002.182 . BANKING [CAP. 371. 65 Credit institutions unable to meet obligations. Amended
- Art. 28Notwithstanding any investigation provided for in this Act and any regulations made and, o r Banking Rules and
- Art. 28AWithout prejudice to the powers arising under article 3, the Minister, acting on the advice of the competent a
- Art. 29(1) If, whether from any report made under article 20 or article 22 or otherwise, it appears to the competent
- Art. 29ARepealed by Act LXXII of 2021 . Supervisory measures related to financial holding companies and mixed financia
- Art. 29AA(1) Without prejudice to any other power of the competent authority under this Act or any other law, where the
- Art. 29BRegulations, Banking Rules and Conduct of Business Rules made under this Act and any amendment thereto or revo
- Art. 30Every credit institution, and, where applicable, financial holding company and mixed financial holding company
- Art. 30A(1) The competent authority may require credit institutions - (a) to publish information referred to in Part E
- Art. 32(1) No person - (a) who has been adjudged bankrupt or has made a composition with his creditors or has been an
- Art. 33Every officer of a credit institution shall take all reasonable steps - (a) to secure compliance by the credit
- Art. 33AEvery officer of a financial holding company or a mixed financial holding company sha ll take all reas onable
- Art. 34(1) Nothing in this Act shall authorise the Central Bank or the competent authority to enquire or cause an enq
- Art. 34A(1) Credit institutions may, when necessary to safeguard the prevention, investigation and detection of paymen
- Art. 35(1) Any person who - (a) fails to comply with any directive issued by the competent authority under this Act;
- Art. 35A(1) Without prejudice to the provisions of articles 29AA(1)(c), 35 and 35B and to any regulations made under a
- Art. 35B(1) The competent authority shall publish, on its official website and in any other media as it considers appr
- Art. 35CIn exercising its supervisory pow ers in accordance with this Act and any regulations made and, or Banking Rul
- Art. 36The provisions of this Act shall not apply to the Central Bank, save where and to the exten t that the Central
- Art. 37Any complaints made by any person making use of a payment service provided by a credit institution or by other
- Art. 38(1) Credit institutions that, before 12 January 2016, have performed in Malta activities of payment initiation
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