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XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni

132 Articles / Provisions · Malta
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Table of Provisions (132)

Art. 1 Short title. Skeda Art. 2 Interpretation and scope. Schedule Art. 3 Powers of the Minister. Art. 4 Powers and duties of the competent authority. Art. 5 Application of this Part to specified insurance intermediaries. Art. 6 Registration or enrolment of insurance intermediaries. Art. 7 Register of insurance intermediaries. Art. 8 Qualifications for registration. Art. 9 Art. 10 Art. 11 Art. 12 Specific requirements for enrolment in the case of foreign companies. Art. 13 Art. 14 Certificate of registration or enrolment of intermediaries. Art. 15 Automatic striking off of registration or enrolment of intermediaries. Art. 16 Art. 17 Notification of intention of suspension or striking a name off the register or list. Art. 18 Art. 19 Power of the Art. 20 Monies held in a fiduciary capacity. Art. 21 Fidelity bonds required of insurance intermediaries. Art. 22 Art. 23 Art. 24 Art. 25 Art. 26 Enrolled persons ceasing to carry on insurance intermediaries activities. Art. 27 Financial year of insurance intermediaries. Art. 28 Art. 29 Art. 30 Art. 31 Contracts of Art. 32 Underwriting agreements. Art. 33 Art. 34 Tied Insurance Intermediaries Art. 35 Qualifications for registration. Art. 36 List of persons carrying out tied insurance intermediaries activities. Art. 37 Art. 38 Art. 39 Striking name off Tied Insurance Intermediaries Company Register. Art. 40 Striking name off Tied Insurance Intermediaries Company Register or the Tied Insurance Intermediaries List. Art. 41 Protection of the public or other interest. Art. 42 Restoration of a name struck off the Tied Insurance Intermediaries List. Art. 43 Application of Part VIII of the Act and European insurance undertakings. Art. 44 in Art. 45 Co-operation in supervisory duties and sharing of information. Art. 46 Art. 47 to the public Art. 48 Art. 49 Service of notices, etc. Art. 50 Art. 51 Exclusion of liability. Art. 52 Offences. Art. 53 Penalties. Art. 54 Application of certain articles of the Insurance Business Act to insurance intermediaries. Art. 55 Art. 56 Amends the Malta Financial Services Authority Act, Cap. Art. 57 Amendment of article 16 of the principal Act. Art. 58 Art. 59 Art. 60 Art. 61 Amendment of the Art. 62 Amendment of article 12 of the principal Act. Art. 63 Amendment of article 19 of the principal Act. Art. 64 of Art. 65 Art. 66 Amendment of the Financial Institutions Act, Art. 67 Amendment of article 2 of the principal Act. Art. 68 Amendment of article 3 of the principal Act. Art. 69 Art. 70 of Art. 71 Art. 72 Art. 73 Amendment of article 428 of the principal Act. Art. 74 Amendment of the Tenth Schedule to the principal Act. Art. 75 Art. 76 Art. 77 Substitution of article 3 of the principal Act. Art. 78 Amendment of article 4 of the principal Act. Art. 79 Art. 80 Art. 81 Art. 82 Amendment of article 9 of the principal Act. Art. 83 Amendment of article 10 of the principal Act. Art. 84 of Art. 85 Art. 86 Art. 87 Art. 88 Art. 89 Amendment of article 17 of the principal Act. Art. 90 Amendment of article 20 of the principal Act. Art. 91 Amendment of article 21 of the principal Act. Art. 92 Amendment of article 23 of the principal Act. Art. 93 Amendment of article 26 of the principal Act. Art. 94 Art. 95 Amendment of article 30 of the principal Act. Art. 96 Addition of new article 31A in the principal Act. Art. 97 Amendment of article 32 of the principal Act. Art. 98 Art. 99 Art. 100 of Art. 101 Art. 102 Amendment of article 44 of the principal Act. Art. 103 Substitution of article 46 of the principal Act. Art. 104 Amendment of article 47 of the principal Act. Art. 105 Amendment of article 48 of the principal Act. Art. 106 Addition of new article 48A to the principal Act. Art. 107 Addition of new article 48B to the principal Act. Art. 108 Amendment of article 49 of the principal Act. Art. 109 Amendment of article 50 of the principal Act. Art. 110 Substitution of article 54 of the principal Act. Art. 111 of Art. 112 Amendment of article 61 of the principal Act. Art. 113 Amendment of article 62 of the principal Act. Art. 114 Art. 115 Amendment of article 66 of the principal Act. Art. 116 Amendment of article 67 of the principal Act. Art. 117 Art. 118 Art. 119 T[assir ta’ l-Ewwel Skeda ta’ l-Att prinçipali. Art. 120 Amendment of the Second Schedule to the principal Act. Art. 121 of the Art. 122 Art. 123 Art. 124 Art. 125 Art. 126 Amendment of article 19 of the principal Act. Art. 127 of Art. 128 Art. 129 Art. 130 Amendment of article 50 of the principal Act.

Statutory Text (132 Articles)

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 1 Short title. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) The short title of this Act is the Insurance Intermediaries

Act, 2006.

(2) Parts I and IX and the Schedule after Part IX to this Act

shall come into force on such date as the Minister responsible for finance

may be notice in the Gazette establish.

Gazzetta tal-Gvern ta' Malta — Att 2006 12 — ATT TA’ L-2006 DWAR L-INTERMEDJARJI FL-ASSIGURAZZJONI Taqsim ta’ l-Att TAQSIMA I PRELIMINARI 1.
Skeda — ATT TA’ L-2006 DWAR L-INTERMEDJARJI FL-ASSIGURAZZJONI Taqsim ta’ l-Att TAQSIMA I PRELIMINARI 1. Open official source

L-Intermedjarji fl-Assigurazzjoni u Attivitajiet ta’ Intermedjarji fl-Assigurazzjoni

Nag[ti l-kunsens tieg[i.

E DWARD F ENECH A DAMI

(L.S.)

President

28 ta’ Lulju, 2006

ATT Nru. XII ta’ l-2006

ATT biex jirregola r-re;istrazzjoni u l-iskrizzjoni ta’ l-intermedjarji fl-

assigurazzjoni u l-attivitajiet ta’ l-intermedjarji fl-assigurazzjoni.

IL-PRESIDENT, bil-parir u l-kunsens tal-Kamra tad-Deputati,

imlaqqg[a f’dan il-Parlament, bl-awtorità ta’ l-istess, [are; b’li;i dan

li ;ej>

TAQSIMA I

PRELIMINARI

1. (1) It-titolu fil-qosor ta’ dan l-Att huwa l-Att ta’ l-2006 dwar Titolu fil-qosor.

l-Intermedjarji fl-Assigurazzjoni.

(2) It-Taqsimiet I sa IX u l-Iskeda minnufih wara t-Taqsima

IX ta’ dan l-Att g[andhom jibdew ise[[u f’dik id-data li l-Ministru

responsabbli g[all-finanzi jista’ b’avvi] fil-Gazzetta jistabbilixxi.

2. (1) F’dan l-Att, kemm-il darba r-rabta tal-kliem ma te[tie;x Tifsir u g[an.

xort’o[ra -

“a;ent fl-assigurazzjoni” tfisser persuna li twettaq l-attivitajiet

mni]]lin f’paragrafu 2 tat-Tielet Kolonna ta’ l-Iskeda< u dwar

Lloyd’s, tfisser persuna hekk iskritta ta[t l-artikolu 13 ta’ dan l-

Att ma[tura minn jew f’isem membru ta’ Lloyd’s biex tkun

coverholder tieg[u f’Malta dwar kummerç ta’ l-assigurazzjoni bl-

awtorità li tid[ol f’kuntratti ta’ assigurazzjoni f’isem dak il-membru

ta[t il-kundizzjoniijet ta’ binding authority agreement<

“assiguratur” g[andha l-istess tifsira b[al dik mog[tija lilha

fis-subartikolu (1) ta’ l-artikolu 2 ta’ l-Att dwar il-Kummerç ta’ l-

Assigurazzjoni<

“attivitajiet ta’ intermedjarji fl-assigurazzjoni” tfisser l-

attivitajiet ta’ introduzzjoni, proposta jew twettiq ta’ xog[ol ie[or

preparatorju biex isiru kuntratti ta’ assigurazzjoni, jew dawk il-

kuntratti, jew assistenza fl-amministrazzjoni u t-twettiq ta’ dawk

il-kuntratti, b’mod partikolari fil-ka] ta’ claim u tinkludi kull wa[da

mill-attivitajiet imni]]lin fil-paragrafi 1 sa 4 tat-Tielet Kolonna

ta’ l-Iskeda u jinkludu attivitajiet o[ra li jistg[u ji;u ordnati<

“attivitajiet ta’ l-intermedjarji marbuta fl-assigurazzjoni ”,

dwar persuna rre;istrata b[ala intermedjarju marbut fl-

assigurazzjoni tfisser l-attivitajiet mni]]lin f’paragrafu 4 tat-Tielet

Kolonna ta’ l-Iskeda u kull persuna li tmexxi attivitajiet ta’ l-

intermedjarji fl-assigurazzjoni, flimkien ma’ l-attività prinçipali

tieg[u, g[andu ji;i kkunsidrat ukoll b[ala intermedjarju marbut

fl-assigurazzjoni li ja;ixxi ta[t r-responsabbilità ta’ kumpannija

awtorizzata g[all-prodotti offruti g[an-nom tag[ha jekk l-

assigurazzjoni tkun tikkumplimenta l-prodotti jew is-servizzi

fornuti fir-rigward ta’ l-attività professjonali tieg[u, kemm jekk

il-persuna ti;bor il-premiums jew l-ammonti inti]i g[all-persuna

konçernata li g[andha l-polza<

“awtorità kompetenti” tfisser il-korp ma[tur ta[t l-artikolu 3

ta’ l-Att dwar il-Kummerç ta’ l-Assigurazzjoni<

“binding authority agreement” tfisser ftehim bejn membru

ta’ Lloyd’s jew persuna li ta;ixxi f’ismu u coverholder li bih il-

coverholder jista’, skond il-kundizzjonijiet tal-ftehim, jaççetta riskji

jew irbit f’isem dak il-membru ta’ Lloyd’s<

“broker fl-assigurazzjoni” tfisser persuna li tmexxi kummerç

ta’broking fl-assigurazzjoni<

“çellula” g[andha l-istess tifsira b[al dik mog[ti lilha bl-Att

dwar il-Kumpanniji<

“çertifikat ta’ iskrizzjoni” -

(a) dwar persuna li ta;ixxi b[ala a;ent fl-

assigurazzjoni, tfisser çertifikat ma[ru; mill-awtorità

kompetenti ta[t l-artikolu 14 ta’ dan l-Att lill-persuna, li juri

li dik il-persuna tkun iskritta fil-Lista ta’ l-A;enti< u

(b) dwar persuna li ta;ixxi ta’ manager fl-

assigurazzjoni, tfisser çertifikat ma[ru; mill-awtorità

kompetenti ta[t l-artikolu 14 ta’ dan l-Att lill-persuna, li juri

li dik il-persuna tkun iskritta fil-Lista tal-Managers< u

(ç) dwar persuna li tmexxi kummerç b[ala broker fl-

assigurazzjoni, tfisser çertifikat ma[ru; mill-awtorità

kompetenti ta[t l-artikolu 14 ta’ dan l-Att lil persuna, li juri li

dik il-persuna tkun iskritta fil-Lista tal-Brokers< u

(d) dwar persuna re;istrata b[ala intermedjarja

marbuta fl-assigurazzjoni fir-Re;istru tal-Kumpanniji g[all-

Intermedjarji Marbuta fl-Assigurazzjoni, tfisser çertifikat

ma[ru; mill-awtorità kompetenti ta[t l-artikolu 37 ta’ dan l-

Att lil persuna, li juri li dik il-persuna tkun iskritta fil-Lista

ta’ l-Intermedjarji Marbuta fl-Assigurazzjoni<

“çertifikat ta’ re;istrazzjoni”-

(a) dwar persuna li ta;ixxi b[ala a;ent fl-

assigurazzjoni, tfisser çertifikat ma[ru; mill-awtorità

kompetenti ta[t l-artikolu 14 ta’ dan l-Att lil persuna, li juri li

dik il-persuna tkun iskritta fir-Re;istru ta’ l-A;enti<

(b) dwar persuna li ta;ixxi b[ala manager fl-

assigurazzjoni, tfisser çertifikat ma[ru; mill-awtorità

kompetenti ta[t l-artikolu 14 ta’ dan l-Att lil persuna, li juri li

dik il-persuna tkun iskritta fir-Re;istru tal-Managers< u

(ç) dwar persuna re;istrata b[ala broker fl-

assigurazzjoni, tfisser çertifikat ma[ru; mill-awtorità

kompetenti ta[t l-artikolu 14 ta’ dan l-Att lil persuna, li juri li

dik il-persuna tkun iskritta fir-Re;istru tal-Brokers<

“coverholder” tfisser persuna awtorizzata ta[t binding

authority agreement biex taççetta jew to[ro; dokumenti dwar

kuntratti ta’ assigurazzjoni li juru l-aççettazzjoni ta’ riskji jew irbit

f’isem xi membru ta’ Lloyd’s li jag[ti dik l-awtorita’ bis-sa[[a ta’

dak il-ftehim<

“direttur”, dwar kumpannija, tinkludi individwu li jokkupa l-

kariga ta’ direttur tal-kumpannija, b’isem ikun li jkun imsejja[, li

jkollu setg[a li jmexxi sostanzjalment l-istess funzjonijiet relattivi

g[ad-direzzjoni tal-kumpannija b[al dawk mag[mula minn direttur

u, relattivament g[al kumpannija barranija, tinkludi membru ta’

bord lokali kif ukoll a;ent u l-persuna msemmija b[ala

rrappre]entant ta’ dik il-kumpannija g[all-fini tas-subinçi] (ii) ta’

paragrafu (b) ta’ subartikolu (1) ta’ artikolu 12 ta’ dan l-Att<

“ferg[a” tfisser il-fond tal-kumpannija, barra mill-uffiççju

prinçipali tag[ha, minn fejn jitmexxu attivitajiet ta’ intermedjarji

fl-assigurazzjoni<

“fondi tal-persuna stess” g[andha tiftiehem skond regola dwar

l-intermedjarji fl-assigurazzjoni mag[mula g[all-fini ta’ dan l-Att

biex tistabbilixxi l-ammonti u l-elementi li jikkostitwixxu l-fondi

tal-persuna iskritta nnifisha<

“funzjonijiet” tinkludi r-responsabbiltajiet, setg[at u dmirijiet<

“grupp” u “gruppi ta’ klassijiet”, dwar kummerç ;enerali,

tfisser xi grupp ta’ klassijiet jew partijiet minn klassijiet speçifikati

fit-Taqsima II tat-Tielet Skeda li tinsab ma’ l-Att dwar il-Kummerç

ta’ l-Assigurazzjoni<

“holding kwalifikattiv ta’ azzjonijiet” tfisser holding dirett

jew indirett f’kumpannija li jirrappre]enta g[axra fil-mija jew i]jed

tal-kapital azzjonarju ma[ru; minn dik il-kumpannija jew tal-

jeddijiet ta’ votazzjoni marbuta ma’ dak il-kapital azzjonarju jew

li jag[milha possibbli li tkun e]erçitata influwenza sinjifikanti fl-

amministrazzjoni tal-kumpannija, u “azzjonist kwalifikanti”

g[andha tiftiehem f’dan is-sens<

“impri]a ta’ l-assigurazzjoni Ewropea” tfisser impri]a li

g[andha l-uffiççju prinçipali tag[ha fi Stat Membru jew fi Stat

}EE li ma jkunx Malta, li tmexxi kummerç ta’ l-assigurazzjoni

diretta fit-tifsira ta’ l-artikolu 1 ta’ Direttiva tal-Kunsill 73#239#KEE

ta’ l-24 ta’ Lulju 1973 dwar il-koordinament ta’ li;ijiet, regolamenti

u disposizzjonijiet amministrattivi li jirrigwardaw il-bidu u t-twettiq

tan-negozju ta’ l-assigurazzjoni diretta barra mill-assigurazzjoni

tal-[ajja jew ta’ l-artikolu 2 tad-Direttiva 2002#83#KE tal-Parlament

Ewropew u tal-Kunsill tal-5 ta’ Novembru 2002 li tikkonçerna l-

assigurazzjoni fuq il-[ajja li rçeviet l-awtorizzazzjoni skond l-

artikolu 6 u l-artikolu 4 ta’ dawn id-Direttivi rispettivament<

“intermedjarju fl-assigurazzjoni” tfisser kull persuna naturali

jew legali li, tmexxi jew tag[mel attivitajiet ta’ intermedjarji fl-

assigurazzjoni, u tinkludi persuna li tipprovdi servizzi ançillari g[al

attivitajiet o[ra ta’ kummerç fl-assigurazzjoni kif jista’ ji;i ordnat<

“intermedjarju marbut fl-assigurazzjoni” tfisser persuna li

tmexxi attivitajiet ta’ l-intermedjarji fl-assigurazzjoni marbuta<

“iskritt” -

(a) dwar persuna li ta;ixxi b[ala a;ent fl-

assigurazzjoni, tfisser iskritt fil-Lista ta’l-A;enti ta[t l-artikolu

13 ta’ dan l-Att<

(b) dwar persuna li ta;ixxi b[ala manager fl-

assigurazzjoni, tfisser iskritt fil-Lista tal-Managers ta[t l-

artikolu 13 ta’ dan l-Att<

(ç) dwar persuna li tmexxi kummerç b[ala broker fl-

assigurazzjoni, tfisser iskritt fil-Lista tal-Brokers ta[t l-artikolu

13< u

(d) dwar persuna li tmexxi kummerç b[ala

intermedjarju marbut fl-assigurazzjoni, tfisser iskritt fil-Lista

ta’ l-Intermedjarja Marbuta fl-Assigurazzjoni ta[t l-artikolu

37 ta’ dan l-Att,

u, f’kull ka], “iskrizzjoni” g[andha tiftiehem f’dan is-

sens<

“klassi”-

(a) dwar kummerç fit-tul, tfisser xi wa[da mill-

klassijiet speçifikati fit-Tieni Skeda li tinsab ma’ l-Att dwar

il-Kummerç ta’ l-Assigurazzjoni< u

(b) dwar kummerç ;enerali, tfisser xi wa[da mill-

klassijiet speçifikati fit-Taqsima I tat-Tielet Skeda li tinsab

ma’ dak l-Att<

“kontroll”, dwar korp ;uridiku, tfisser is-setg[a biex ji;u

stabbiliti l-policies finanzjarji u operattivi tal-korp ;uridiku<

“kontrollur”, dwar korp ;uridiku, hija persuna li, wa[edha

jew flimkien ma’ o[rajn, te]erçita kontroll relattivament g[all-korp

;uridiku<

“korp ;uridiku” tfisser kull entità li g[andha l-personalità

legali distinta minn dik tal-membri tag[ha<

“kummerç ta’ broking fl-assigurazzjoni”, dwar broker fl-

assigurazzjoni re;istrat jew iskrit, tfisser l-attivitajiet imni]]lin fil-

paragrafu 1 tat-Tielet Kolonna ta’ l-Iskeda<

“kummerç ta’ l-assigurazzjoni” g[andha l-istess tifsir kif

mog[ti lilha bis-subartikolu (1) ta’ l-artikolu 2 ta’ l-Att dwar il-

Kummerç ta’ l-Assigurazzjoni<

“kumpannija” tinkludi kumpannija lokali u kumpannija

barranija<

“kumpannija awtorizzata” tfisser kumpannija li hi awtorizzata,

jew persuna li titqies li tkun awtorizzata, ta[t l-Att dwar il-

Kummerç ta’ l-Assigurazzjoni, biex tmexxi kummerç ta’ l-

assigurazzjoni, u tinkludi kumpannija iskritta ta[t l-imsemmi Att

biex ta;ixxi b[ala a;ent fl-assigurazzjoni ta’ dik il-kumpannija,

kif ukoll impri]a ta’ l-assigurazzjoni Ewropea li g[andha l-uffiççju

prinçipali tag[ha fi Stat Membru jew fi Stat }EE, li tistabbilixxi

ferg[a jew tipprovdi servizzi f’Malta fl-e]erçizzju ta’ dritt

Ewropew<

“kumpannija barranija” tfisser kumpannija jew soçjetà in

akkomandita, jew korp ;uridiku simili jew ekwivalenti g[aliha, li

l-kapital tag[ha jkun maqsum f’azzjonijiet, re;istrata, inkorporata

jew kostitwita barra minn Malta ta[t il-li;ijiet ta’ xi pajji], kemm-

il darba dik il-kumpannija jew is-soçjetà in akkomandita tkun [arset

id-disposizzjonijiet ta’ xi li;i li minn ]mien g[al ]mien tkun isse[[

f’Malta u li tkun tirreferi g[aliha>

I]da, sakemm mhux speçifikat xort’o[ra, it-terminu

“kumpannija barranija” ma’ tinkludix intermedjarju fl-

assigurazzjoni Ewropew re;istrat ta[t l-artikolu 3 tad-Direttiva

2002#92#KE tal-Parlament u tal-Kunsill Ewropew tad-9 ta’

Diçembru 2002 dwar il-medjazzjoni fl-assigurazzjoni<

“kumpannija çellulari” g[andha l-istess tifsira b[al dik mog[ti

lilha bl-Att dwar il-Kumpanniji<

“kumpannija lokali” tfisser kumpannija b’responsabbiltà

limitata, iffurmata u re;istrata skond l-Att dwar il-Kumpanniji, u

tinkludi, bla [sara g[as-subartikolu (2), soçjetà in akkomandita, li

l-kapital tag[ha jkun maqsum f’azzjonijiet, iffurmata u re;istrata

skond l-imsemmi Att<

“kundizzjonijiet”tinkludi obbligazzjonijiet u restrizzjonijiet<

“kuntratt ta’ assigurazzjoni” u “kuntratt” g[andhom l-istess

tifsiriet kif mog[ti lilhom bis-subartikolu (1) ta’ artikolu 2 ta’ l-

Att dwar il-Kummerç ta’ l-Assigurazzjoni<

“Lista ta’l-A;enti” tfisser il-lista ta’ persuni li ja;ixxu b[ala

a;enti fl-assigurazzjoni stabbilita u mu]muma ta[t l-artikolu 9 ta’

dan l-Att<

“Lista tal-Brokers” tfisser il-lista ta’ persuni li jmexxu

kummerç b[ala brokers fl-assigurazzjoni stabbilita u mi]muma

ta[t l-artikolu 9 ta’ dan l-Att<

“Lista ta’l-Intermedjarji Marbuta fl-Assigurazzjoni” tfisser

il-lista ta’ l-intermedjarji marbuta fl-assigurazzjoni stabbilita u

mi]muma skond is-subartikolu (1) ta’ l-artikolu 36 ta’ dan l-Att<

“Lista tal-Managers” tfisser il-lista ta’ persuni li ja;ixxu b[ala

managers fl-assigurazzjoni stabbilita u mi]muma ta[t l-artikolu 9

ta’ dan l-Att<

“manager fl-assigurazzjoni” tfisser persuna li tmexxi l-

attivitajiet imni]]lin f’paragrafu 3 tat-Tielet Kolonna ta’ l-Iskeda<

“Ministru” tfisser il-Ministru responsabbli g[all-finanzi<

“money laundering” g[andha l-istess tifsira b[al dik mog[tija

lilha mill-Att kontra Money Laundering<

“ordnat” tfisser ordnat b’regolamenti mag[mulin ta[t dan l-

Att<

“rabta” u “pajji] tar-rabta” g[andhom l-istess tifsiriet kif

mog[ti lilhom fis-subartikolu (1) ta’ l-artikolu 2 ta’ l-Att dwar il-

Kummerç ta’ l-Assigurazzjoni<

“rabtiet internazzjonali ta’ Malta” g[andha l-istess tifsira b[al

dik mog[ti lilha fis-subartikolu (1) ta’ l-artikolu 2 ta’ l-Att dwar

il-Kummerç ta’ l-Assigurazzjoni <

“rappre]entant” g[andha tinftiehem skond l-artikolu 12 ta’ l-

Att dwar il-Kummerç ta’ l-Assigurazzjoni <

“re;istrat” -

(a) dwar persuna re;istrata b[ala a;ent fl-

assigurazzjoni ta[t l-artikolu 13, tfisser re;istrat fir-Re;istru

ta’ l-A;enti<

(b) dwar persuna re;istrata b[ala manager fl-

assigurazzjoni ta[t l-artikolu 13, tfisser re;istrat fir-Re;istru

tal-Managers<

(ç) dwar persuna re;istrata b[ala broker fl-

assigurazzjoni ta[t l-artikolu 13, tfisser re;istrat fir-Re;istru

tal-Brokers< u

(d) dwar persuna re;istrata b[ala intermedjarju marbut

fl-assigurazzjoni ta[t l-artikolu 37 ta’ dan l-Att, tfisser re;istrat

fir-Re;istru ta’ l-Intermedjarji Marbuta fl-Assigurazzjoni ta’

kumpannija wa[da jew i]jed,

u, f’kull ka], “re;istrazzjoni” g[andha tiftiehem f’dan is-sens<

“Re;istru ta’ l-A;enti” tfisser ir-re;istru ta’ l-a;enti fl-

assigurazzjoni, stabbilit u mu]mum ta[t l-artikolu 7 ta’ dan l-Att<

“Re;istru tal-Brokers “ tfisser ir-re;istru tal-brokers fl-

assigurazzjoni stabbilit u mi]mum ta[t l-artikolu 7 ta’ dan l-Att<

“Re;istru ta’ Kumpanniji g[al Intermedjarji Marbuta fl-

Assigurazzjoni” dwar kumpannija awtorizzata tfisser ir-re;istru

ta’ kumpanniji g[al intermedjarji marbuta fl-assigurazzjoni stabbilit

u mi]mum skond is-subartikolu (1) ta’ artikolu 36 ta’ dan l-Att<

“Re;istru tal-Managers “ tfisser ir-re;istru tal-managers fl-

assigurazzjoni stabbilit u mi]mum ta[t l-artikolu 7 ta’ dan l-Att<

“regola dwar l-intermedjarji fl-assigurazzjoni” tfisser regola

dwar l-attivitajiet ta’ intermedjarji fl-assigurazzjoni li tkun torbot

lill-intermedjarji fl-assigurazzjoni u lil o[rajn kif jista’ ji;i msemmi

fiha, ma[ru;a mill-awtorità kompetenti bis-sa[[a tas-subartikolu

(2) ta’ l-artikolu 4 ta’ dan l-Att<

“reklam”, dwar attivitajiet ta’ intermedjarji fl-assikurazzjoni,

tfisser kull xorta ta’ reklamar, sew bil-fomm jew bil-miktub, u,

bla [sara g[all-;eneralità ta’ dak qabel imsemmi, tinkludi reklamar

f’pubblikazzjoni, il-wiri ta’ avvi]i, tabelli, tikketti jew kartelluni,

bil-mezz ta’ ittri, çirkolarijiet, prospetti, katalgi, listi tal-prezzijiet

jew dokumenti o[ra, bil-wiri ta’ stampi jew filmati fotografiçi jew

çinematografiçi, bil-mezz ta’ xandir bis-smig[ jew bit-televi]joni,

bit-tqassim ta’ re;istrazzjonijiet jew b’kull mod ie[or, u riferenzi

g[all-[ru; ta’ reklam g[andhom jiftiehmu f’dan is-sens<

“riskju sitwat f’Malta” g[andha l-istess tifsir kif mog[ti lilha

fis-subartikolu (1) ta’ l-artikolu 2 ta’ l-Att dwar il-Kummerç ta’ l-

Assigurazzjoni<

“sena finanzjarja” g[andha tiftiehem skond is-subartikolu (4)

ta’l-artikolu 27 ta’ dan l-Att<

“Skeda” tfisser l-Iskeda li tinsab ma’ dan l-Att<

“Stat Membru” tfisser Stat Membru tal-Komunitajiet Ewropej<

“Stat }EE” tfisser Stat li jkun parti kontraenti fil-ftehim fuq

i]-}ona Ekonomika ffirmata f’Oporto fit-2 ta’ Mejju, 1992 kif

emendat bil-Protokol iffirmat fi Brussel fis-17 ta’ Marzu 1993 u

kif emendat minn ]mien g[al ]mien<

“Tribunal” tfisser it-Tribunal g[al Servizzi Finanzjarji

imsemmi fl-artikolu 21 ta’ l-Att dwar l-Awtorità g[as-Servizzi Kap. 330.

Finanzjarji ta’ Malta<

“uditur approvat” u “uditur” g[andhom it-tifsir mog[ti lilhom

minn subartikolu (10) ta’ l-artikolu 28 ta’ dan l-Att<

“uffiçjal”, dwar kumpannija, tinkludi direttur, soçju, manager,

jew segretarju tal-kumpannija jew xi persuna li effettivament

ta;ixxi f’kariga b[al dik sew jekk ma[tura formalment u sew jekk

ma tkunx<

(2) L-g[an ta’ dan l-Att huwa, in parti, biex jimplimenta d- G[an.

disposizzjonijiet tad-Direttiva 2002#92#KE tal-Parlament Ewropew u

tal-Kunsill tad-9 ta’ Diçembru ta’ l-2002 dwar il-medjazzjoni fl-

assigurazzjoni, u kull Direttiva o[ra tal-Parlament Ewropew u tal-Kunsill

li tista’ tkun ma[ru;a minn ]mien g[al ]mien fuq ir-regolamentazzjoni

ta’ intermedjarji fl-assigurazzjoni li g[andha ti;i interpretata u applikata

bl-istess mod.

(3) Id-disposizzjonijiet ta’ dan l-Att g[andhom japplikaw

g[al soçjetà in akkomandita jew g[al korp ;uridiku simili jew

ekwivalenti bla [sara g[al dawk il-modifikazzjonijiet li l-awtorità

kompetenti tista’, minn ]mien g[al ]mien, tag[mel f’xi disposizzjoni

tieg[u, liema modifikazzjonijiet ma g[andhomx materjalment inaqqsu

mill-g[an prinçipali tad-disposizzjoni hekk modifikata.

(4) F’dan l-Att u fir-regoli mag[mulin bis-sa[[a tieg[u, jekk

ikun hemm xi konflitt bejn it-test Ingli] u t-test Malti, g[andu jipprevali

t-test Ingli].

TAQSIMA II

SETG{AT REGOLATORJI

3. (1) L-awtorità kompetenti ma[tura ta[t l-artikolu 3 ta’ l-Att

dwar il-Kummerç ta’ l-Assigurazzjoni, g[andha taqdi l-funzjonijiet ta’

l-awtorità kompetenti ta[t dan l-Att u partikolarment, ti]gura t-t[aris

tad-disposizzjonijiet ta’ dan l-Att.

(2) Il-Ministru jista’, wara konsultazzjoni ma’ l-awtorità

kompetenti, jag[mel ir-regolamenti li jistg[u jkunu me[tie;a sabiex

titwettaq kull wa[da mid-disposizzjonijiet ta’ dan l-Att, u bla [sara g[all-

;eneralità ta’ dak hawn qabel imsemmi, il-Ministru jista’, b’dawk ir-

regolamenti, b’mod partikolari, jipprovdi g[al xi [a;a jew kull [a;a

minn dawn li ;ejjin-

(a) l-implimentazzjoni tad-Direttiva 2002#92#KE tal-

Parlament Ewropew u tal-Kunsill tad-9 ta’ Diçembru 2002 dwar

il-medjazzjoni ta’ l-assigurazzjoni<

(b) l-implimentazzjoni ta’ xi [tie;a jew disposizzjoni kif

jista jkun me[tie; skond Direttiva, Regolament jew Deçi]joni ta’l-

Unjoni Ewropea jew kull mi]ura o[ra simili g[all-finijiet ta’ dan

l-Att<

(ç)

biex jemenda jew jirrevoka l-Iskeda<

(d) il-[las minn xi persuna, korp jew çellula ma[luqa minn

kumpannija çellulari, skond il-ka], ta’ kull dritt, ammont jew [las

ie[or pagabbli lill-awtorità kompetenti dwar kull [a;a provdut

dwarha, b’dan l-Att jew ta[tu u kull regolament mag[mul ta[t dan

l-artikolu<

(e) ir-re;istrazzjoni jew l-iskrizzjoni ta’ persuni, barra minn

persuni re;istrati jew iskritti bis-sa[[a ta’ dan l-Att, li jmexxu

attivitajiet ta’ intermedjarji fl-assigurazzjoni jew li jipprovdu g[al

servizzi ançillari g[all-kummerç ta’ l-assigurazzjoni kif jista’ ji;i

ordnat<

(f) kull [a;a li g[andha x’taqsam jew li hi konnessa ma’ xi

disposizzjoni li tinsab fl-Iskeda<

(g) kull [a;a li tista’ jew li g[andha tkun ordnata ta[t xi

disposizzjoni ta’ dan l-Att<

(h) il-penalitajiet amministrattivi li jistg[u ji;u mposti u

mi;bura mill-awtorità kompetenti dwar infrazzjonijiet li jistg[u

ji;u ordnati ming[ajr ma jinstemg[u quddiem qorti< penali

amministrattiva tkun dovuta lil-awtorità kompetenti b[ala dejn

çivili>

I]da l-penali amministrattiva ma tistax tkun akbar minn penali

finanzjarja ta’ erbg[in elf lira dwar kull infrazzjoni u, meta l-

infrazzjoni tkompli, penali o[ra ta’ mhux i]jed minn [amsin lira

g[al kull jum li matulu l-infrazzjoni tkompli<

(i) il-penalitajiet jew pieni o[ra li persuni li jiksru jew li

jonqsu li j[arsu xi disposizzjoni ta’ xi regolament mag[mul skond

dan l-Att jistg[u je[lu, liema penalitajiet ma jkunux inqas minn

mitt lira u mhux i]jed minn erbg[in elf lira, dwar kull reat u dwar

reat kontinwat penali o[ra ta’ mhux i]jed minn mitt lira g[al kull

jum li matulu jkompli r-reat<

(j) kull [a;a inçidentali g[al jew konnessa ma’ xi [a;a hawn

qabel imsemmija<

(k) kull [a;a relatata mat-twaqqif, koordinazzjoni,

amalgamazzjoni jew xort’ o[ra ta’ l-iskemi ta’ kumpens.

(3) Il-Ministru jista’ wara konsultazzjoni ma’ l-awtorità

kompetenti, jag[mel regolamenti biex je]enta lil xi persuna mid-

disposizzjonijiet kollha jew u[ud mid-disposizzjonijiet ta’ dan l-Att jew

ta’ xi regolamenti mag[mula bis-sa[[a tieg[u, bla [sara g[al dwak il-

kondizzjionijet jew [ti;iet inklu]a il-[tie;a ta’ forom o[ra ta’ proçeduri

ta’ re;istrazzjoni jew iskrizzjoni u notifika skond ma’ jista’ ji;i ordnat.

(4) Il-Ministru jista’ wkoll b’regolamenti ta[t dan l-artikolu,

wara konsultazzjoni ma’ l-awtorità kompetenti, jestendi u jag[mel

applikabbli kull wa[da mid-disposizzjonijiet ta’ dan l-Att g[al xi attività

ta’ intermedjarju fl-assigurazzjoni li tista’ ti;i ordnata li fil-fehma tieg[u

g[andha, fl-interess pubbliku, tkun regolata b’dawk id-disposizzjonijiet.

(5) Regolamenti mag[mula ta[t dan l-artikolu jistg[u

jag[mlu dawk l-e]enzjonijiet, kondizzjonijiet jew modifiki kif jista’

ji;i speçifikat fihom dwar ka]ijiet, çirkostanzi jew g[anijiet differenti

u jistg[u jag[tu lill-awtorità kompetenti dik is-setg[a g[al adattament

tar-regolamenti kif jista’ ji;i speçifikat fihom.

(6) Fil-ka] ta’ dubju dwar jekk attività tkunx tikkostitwixxi

t-tmexxija ta’ attivitajiet ta’ intermedjarji fl-assigurazzjoni, jew jekk

dawk l-attivitajiet ta’ intermedjarji fl-assigurazzjoni jkunu jew ma jkunx

qeg[din jitmexxew f’Malta jew minn Malta, il-kaz ikun konklu]ivament

deçi] mill-awtorita’ kompetenti.

(7) L-e]erçizzju ta’ poteri mog[tija ta[t dan l-artikolu

g[andhom ikunu bla [sara g[al kull obbligazzjoni jew restrizzjoni li

tori;ina mir-rabtiet internazzjonali ta’ Malta.

(8) Regolamenti mag[mulin ta[t dan l-Att u kull emenda

jew revoka ta’ dawk ir-regolamenti, jistg[u jkunu pubblikati bl-ilsien

Ingli] biss.

4. (1) Jkun id-dmir ta’ l-awtorità kompetenti li taqdi l-

funzjonijiet mog[tija lilha b’dan l-Att jew ta[tu u li ti]gura li persuni,

kumpanniji jew intermedjarji ta’ l-assigurazzjoni re;istrati jew iskritti

skond dan l-Att u regolamenti mag[mulin ta[tu jkunu j[arsu d-

disposizzjonijiet ta’ dan l-Att, regolamenti mag[mulin ta[tu, ir-regoli

dwar intermedjarji fl-assigurazzjoni mag[mulin mill-awtorità

kompetenti bis-sa[[a ta’ dan l-Att, u tal-kundizzjonijiet speçifikati

f’çertifikati ta’ re;istrazzjoni jew iskrizzjoni.

(2) L-awtorità kompetenti tista’ tag[mel regoli dwar

intermedjarji fl-assigurazzjoni kif ikun me[tie; sabiex jing[ata effett

lil kull wa[da mid-disposizzjonijiet ta’ dan l-Att u tar-regolamenti kollha

mag[mulin bis-sa[[a tieg[u. L-awtorità kompetenti tista’ temenda jew

tirrevoka dawk ir-regoli dwar intermedjarji fl-assigurazzjoni.

(3) Regoli dwar intermedjarji fl-assigurazzjoni u kull

emenda g[alihom jew revoka tag[hom, g[andhom ikunu komunikati

uffiçjalment lill-persuni jew kumpanniji konçernati u l-pubbliku jkun

jista’ jarahom fl-uffiççji ta’ l-awtorità kompetenti f’kull [in matul il-

[inijiet normali tax-xog[ol ta’ l-awtorità kompetenti.

(4) Ir-regoli dwar intermedjarji fl-assigurazzjoni mag[mulin

mill-awtorità kompetenti bis-sa[[a ta’ dan l-Att, jistg[u jipprovdu li

jkunu japplikaw [ti;iet regolatorji differenti g[al kategoriji differenti

ta’ intermedjarji fl-assigurazzjoni< u bla [sara g[ar-regoli dwar

intermedjarji fl-assigurazzjoni li jkunu me[tie;a jsiru ta[t dan l-Att u

g[all-;eneralità ta’ dak hawn qabel imsemmi, l-awtorità kompetenti

tista’, b’dawk ir-regoli dwar intermedjarji ta’ l-assigurazzjoni, b’mod

partikolari -

(a) tistabbilixxi x’ikun jikkostitwixxi dak li hu xieraq u

idoneu dwar intermedjarji fl-assigurazzjoni<

(b) tistabbilixxi, dwar intermedjarji fl-assigurazzjoni, il-

kriterji ta’ direzzjoni tajba u prudenti<

(ç) tistabbilixxi t-tag[rif li intermedjarji fl-assigurazzjoni

g[andhom jag[tu lil persuni li jkunu qeg[din jitolbu jew jag[mlu

u]u minn servizzi ta’ intermedjarji fl-assigurazzjoni<

(d) tistabbilixxi l-kodiçijiet ta’ m;ieba li jistg[u jirregolaw

kull aspett ta’ negozju bejn l-intermedjarji fl-assigurazzjoni u l-

kumpanniji fl-assigurazzjoni jew bejn dawk l-intermedjarji u l-

persuni li jitolbu jew jag[mlu u]u minn servizzi ta’ intermedjarji

fl-assigurazzjoni<

(e) tistabbilixxi, dwar kummerç ta’ attivitajiet intermedjarji

fl-assigurazzjoni, il-[ru; ta’ reklami, u l-eg[mil ta’ attivitajiet o[ra

ta’ promozzjoni.

TAQSIMA III

RE:ISTRAZZJONI JEW ISKRIZZJONI G{AT-TMEXXIJA

TA’ KUMMER? B{ALA A:ENTI FL-ASSIGURAZZJONI,

MANAGERS FL-ASSIGURAZZJONI U BROKERS

FL-ASSIGURAZZJONI

5. Din it-Taqsima ta’ l-Att tapplika g[all-persuni li ja;ixxu ta’ Applikazzjoni

din it-Taqsima

a;enti fl-assigurazzjoni, managers fl-assigurazzjoni u persuni li jmexxu g[all-intermedjarji

kummerç b[ala brokers fl-assigurazzjoni, hawn i]jed il-quddiem fl-assigurazzjoni

speçifiçi.

mag[rufin b[ala “l-intermedjarju”.

6. (1) Bla [sara g[as-subartikolu (3) ta’ dan l-artikolu, l-ebda Re;istrazzjoni

iskrizzjoni ta’

persuna ma tista ta;ixxi b[ala intermedjarju, jew tmexxi jew tipprova intermedjarji

tmexxi, f’Malta jew minn Malta, attivitajiet ta’ intermedjarji fl- fl-assigurazzjoni.

assigurazzjoni kemm il-darba dik il-persuna ma tkunx re;istrata jew

iskritta skond l-artikolu 13 ta’ dan l-Att.

(2) L-awtorità kompetenti m’g[andhiex tag[ti re;istrazzjoni

jew iskrizzjoni ta[t dan l-artikolu lil persuna u lanqas m’g[andha l-

awtorità kompetenti tippermetti li dik il-persuna ti;i rre;istrata jew

iskritta ta[tu jew li tibqa’ hekk re;istrata jew iskritta, sakemm ma tkunx

sodisfatta li dik il-persuna tikkonforma u jissodisfa l-[ti;iet kollha

stabbiliti f’din it-Taqsima ta’ l-Att.

(3) Dan l-artikolu m’g[andux japplika g[al persuna, li hija

re;istrata skond id-Direttiva 2002#92#KE tal-Parlament Ewropew u tal-

Kunsill tad-9 ta’ Diçembru ta’ l-2002 dwar il-medjazzjoni ta’ l-

assigurazzjoni fi Stat Membru jew fi Stat }EE, li ma jkunx Malta.

7. L-awtorità kompetenti g[andha tistabbilixxi u ]]omm re;istru Re;istru ta’

intermedjarji fl-

ta’ persuni li jmexxu kummerç ta’ a;enti fl-assigurazzjoni jew managers assigurazzjoni.

fl-assigurazzjoni u brokers fl-assigurazzjoni, f’dan l-Att separatament

imsejj[a b[ala “ir-Re;istru ta’ l-A;enti”, “ir-Re;istru tal-Managers”

jew “ir-Re;istru tal-Brokers”, li jkun fih dawk il-partikolaritajiet li l-

awtorità kompetenti tista’, minn ]mien g[al ]mien, b’regola dwar

intermedjarji fl-assigurazzjoni mag[mula g[all-fini ta’ dan l-artikolu,

tistabbilixxi, tal-persuni kollha li ta[t dan l-Att g[andhom il jedd li jkunu

re;istrati fih u li japplikaw bil-mod stabbilit f’dik ir-regola biex ikunu

hekk re;istrati.

8. (1) Persuna g[andha jedd li tkun re;istrata fir- “Re;istru ta’

l-A;enti”, “ir-Re;istru tal-Managers” jew fir-“Re;istru tal-Brokers”

jekk tissodisfa lill-awtorità kompetenti li -

(a)

tkun individwu<

(b) tkun persuna xierqa u idonea, li tkun hekk re;istrata u li

ti]gura d-direzzjoni tajba u prudenti tal-kumpannija<

(ç) ikollha l-kwalifiki u tkun tissodisfa jew t[ares il-[ti;iet

stabbiliti b’regola dwar l-intermedjarji fl-assigurazzjoni mag[mula

g[all-finijiet ta’ dan l-artikolu.

(2) Persuna ma jkollhiex jedd li tmexxi attivitajiet ta’

intermedjarji fl-assigurazzjoni bis-sa[[a tar-re;istrazzjoni tag[ha ta[t

dan l-artikolu kemm-il darba ma tkunx direttur jew impjegat ta’

kumpannija li tkun iskritta ta[t l-artikolu 13 ta’ dan l-Att.

9. L-awtorità kompetenti g[andha tistabbilixxi u ]]omm re;istru

ta’ persuni li ja;ixxu ta’ a;enti fl-assigurazzjoni jew managers fl-

assigurazzjoni u jmexxu kummerç ta’ brokers fl-assigurazzjoni, f’dan

l-Att imsejj[a separatament b[ala “ir-Re;istru ta’ l-A;enti”, “ir-Re;istru

tal-Managers” jew “ir-Re;istru tal-Brokers”, li jkun fih dawk il-

partikolaritajiet dwar il-persuni kollha li ta[t dan l-Att ikollhom il jedd

li jkunu iskritti fih u li japplikaw bil-mod stabbilit minn ]mien g[al

]mien mill-awtorita` kompetenti f’dik ir-regola biex ikunu hekk iskritti.

10. (1) Bla [sara g[al paragrafu (b) ta’ dan is-subartikolu, l-

intermedjarju g[andu jedd li jkun iskritt fil-“Lista ta’ l-A;enti”, “il-

Lista tal-Managers” jew fil-“Lista tal-Brokers“ jekk ikun jissodisfa lill-

awtorità kompetenti li>

(a)

fil-ka] li l-applikant tkun kumpannija>

(i) l-g[anijiet tal-kumpannija jkunu limitati g[all-

operazzjonijiet li jo[or;u direttament mill-kummerç mni]]la

f’paragrafu (1), (2) u (3) tat-Tielet Kolonna ta’ l-Iskeda, kif

applikabbli u g[al [wejje; jew funzjonijiet konnessi mieg[u

jew ançillari g[alih, bl-esklu]joni ta’ kull kummerç ta’ negozju

ie[or, barra minn kummerç stabbilit b’regola dwar

intermedjarji fl-assigurazzjoni mag[mula g[all-finijiet ta’ dan

l-artikolu<

(ii) l-applikant jikxef g[as-sodisfazzjon ta’ l-awtorità

kompetenti dak it-tag[rif li l-awtorità kompetenti tkun talbet

minn g[andu dwar il-persuni li ma’ l-iskrizzjoni jkollhom xi

interess proprjetarju, finanzjarju jew xi interess ie[or, f’dik,

jew in konnessjoni ma’, l-applikant<

(iii) l-azzjonisti kwalifikanti kollha, il-kontrulluri u l-

persuni kollha li effettivament jidderi;u l-funzjonijiet jew

imexxu l-attivitajiet ta’ l-applikanti huma xierqa u idonei biex

ji]guraw id-direzzjoni tajba u prudenti tag[ha<

(iv) il-fondi tal-persuna stess, sew jekk f’Liri Maltin

jew f’munita o[ra aççettabbli g[all-awtorità kompetenti huma,

f’kull [in mhux inqas minn dak l-ammont xieraq g[ax-xorta

ta’ kummerç li ser jitmexxa minnu, skond kif jista’ ji;i stabbilit

b’regola dwar l-intermedjarji fl-assigurazzjoni mag[mula

g[all-finijiet ta’ dan l-Att, u dawk il-fondi tieg[u stess huma

f’kull [in [ielsa minn kull irbit<

(v) l-applikant ikollu fi]-]minijiet kollha favur tieg[u

polza ta’ assigurazzjoni ta’ indennizz professjonali aççettabbli

mill-awtorità kompetenti, li tindennizza lilu, jew lil kull

persuna impjegata minnu, jew li xort’o[ra ta;ixxi g[an-nom

tieg[u, f’dak l-ammont, b’dak il-mod u dwar dawk il-[wejje;

li l-awtorità kompetenti tista’ tistabbilixxi minn ]mien g[al

]mien<

(vi) l-applikant jissottometti g[as-sodisfazzjon ta’ l-

awtorità kompetenti skema ta’ operazzjonijiet xierqa g[all-

applikazzjoni li g[andha tinkludi partikolaritajiet jew provi

kif jista’ ji;i stabbilit b’regola dwar intermedjarji fl-

assigurazzjoni<

(b) fil-ka] li l-applikant ikun individwu>

(i) l-inçi]i (i) u (iii) ta’ paragrafu (a) ta’ subartikolu

(1) ta’ dan l-artikolu ma japplikax< u

(ii) dan g[andu jedd li jkun re;istrat fir- “Re;istru ta’

l-A;enti”, “ir-Re;istru tal-Managers” jew fir-“Re;istru tal-

Brokers” jekk jissodisfa lill-awtorità kompetenti li>

(aa) tkun persuna xierqa u idonea, li tkun hekk

re;istrata u li ti]gura d-direzzjoni tajba u prudenti tal-

kummerç<

(bb) ikollu l-kwalifiki u jissodisfa jew i[ares il-

[ti;iet stabbiliti b’regola dwar l-intermedjarji fl-

assigurazzjoni mag[mula g[all-finijiet ta’ dan l-artikolu<

(çç) l-g[anijiet tieg[u jkunu limitati g[all-

attivitajiet li jo[or;u direttament mill-kummerç ta’ l-

intermedjarji fl-assigurazzjoni u g[al [wejje; jew

funzjonijiet konnessi mieg[u jew ançillari g[alih, bl-

esklu]joni ta’ kull kummerç ta’ negozju ie[or, barra minn

kummerç stabbilit b’regola dwar l-intermedjarji, fl-

assigurazzjoni mag[mula g[all-finijiet ta’ dan l-artikolu.

(2) Meta jkunu je]istu rabtiet mill-qrib bejn l-intermedjarju

u xi persuna o[ra, l-awtorità kompetenti g[andha>

(a) tag[ti iskrizzjoni biss jekk tikkunsidra li tali rabtiet mill-

qrib ma jfixkluhiex milli te]erçita effettivament il-funzjonijiet ta’

sorveljanza tag[ha< u

(b) tirrifjuta li tag[ti dik l-iskrizzjoni jekk tikkunsidra li l-

li;ijiet, ir-regolamenti jew disposizzjonijiet amministrattivi ta’ xi

pajji] barra minn Malta li jirregolaw li xi persuna li mag[ha l-

intermedjarju jkollu rabtiet mill-qrib, jew l-infurzar tag[hom,

ifixkulha milli te]erçita effettivament il-funzjonijiet ta’ sorveljanza

tag[ha.

(3) L-awtorità kompetenti tista’, minn ]mien g[al ]mien,

permezz ta’ regoli dwar l-intermedjarji fl-assigurazzjoni ma[ru;a ta[t

dan l-Att tfisser iç-çirkostanzi fejn ikunu meqjusin ir-rabtiet mill-qrib

li je]istu bejn l-intermedjarju u xi persuna o[ra.

(4) Fejn l-applikazzjoni tkun g[all-iskrizzjoni biex

intermedjarji fl-assigurazzjoni ja;ixxu b[ala a;ent ta’ l-assigurazzjoni

jew manager fl-assigurazzjoni, l-applikant huwa me[tie; li jipproduçi

provi g[as-sodisfazzjon ta’ l-awtorità kompetenti li jkollu [atra bil-

miktub iffirmata minn uffiçjal anzjan ta’ l-assiguratur jew ta’ broker fl-

assigurazzjoni, skond il-ka], li l-applikant ikun qed jitlob biex ja;ixxi

g[aliha fejn l-applikant ikun nominat biex ja;ixxi f’isem u g[an-nom

tal-kumpannija, jew unikament g[an-nom tal-kumpannija, fil-kariga

speçifikata fil-[atra u dwar [wejje; u ta[t kundizzjonijiet speçifikati

f’dik il-[atra>

I]da, meta applikazzjoni tkun g[all-iskrizzjoni sabiex ja;ixxi

ta’ manager fl-assigurazzjoni, il-[atra msemmija f’dan il-paragrafu ma

tikkostitwix kundizzjoni bil-quddiem g[al iskrizzjoni kemm il-darba

il-manager fl-assigurazzjoni iskritt ma ja;ixxix g[al assiguratur jew

broker fl-assigurazzjoni, skond il-ka], sakemm ma jipproduçix prova

g[as-sodisfazzjon ta’ l-awtorità kompetenti li jkollha [atra bil-miktub

mill-kumpannija konçernata sabiex ja;ixxi g[an-nom tag[ha.

11. (1) F‘ka] li l-applikant ikun kumpannija lokali, hija g[andha {ti;iet speçifiçi

g[al iskrizzjoni fil-

dritt li tkun iskritta>

ka] ta’ kumpanniji

lokali.

(a) fil-Lista ta’ l-A;enti jekk, b’]ieda mal-[ti;iet ta’ l-

artikolu 10 ta’ dan l-Att, l-awtorità kompetenti tkun sodisfatta li

wie[ed jew i]jed mid-diretturi tal-kumpannija jkunu re;istrati fir-

Re;istru ta’ l-A;enti<

(b) fil-Lista tal-Managers jekk, b’]ieda mal-[ti;iet ta’ l-

artikolu 10 ta’ dan l-Att, l-awtorità kompetenti tkun sodisfatta li

wie[ed jew i]jed mid-diretturi tal-kumpannija jkunu re;istrati fir-

Re;istru tal-Managers<

(ç) fil-Lista tal-Brokers jekk, b’]ieda mal-[ti;iet ta’ l-

artikolu 10 ta’ dan l-Att, l-awtorità kompetenti tkun sodisfatta li

wie[ed jew i]jed mid-diretturi tal-kumpannija jkunu re;istrati fir-

Re;istru tal-Brokers,

u l-kummerç b[ala intermedjarji fl-assigurazzjoni jkun qed jitmexxa

ta[t id-direzzjoni ta’ persuna re;istrata.

(2) Kull persuna iskritta ta[t artikolu 13 ta’ dan l-Att

g[andha tapplika lill-awtorità kompetenti bil-miktub qabel tifta[ ferg[a

jew twaqqaf jew takkwista sussidjarja f’Malta.

(3) L-awtorità kompetenti tista’ tippermetti persuna iskritta

kif imsemmi hawn qabel tifta[ ferg[a f’Malta jekk tkun sodisfatta li l-

kummerç b[ala intermedjarji fl-assigurazzjoni mmexxi minnha mill-

ferg[a jkun qed isir minn persuna re;istrata.

(4) L-ebda persuna iskritta ta[t din it-taqsima ta’ dan l-Att

ma tista’ tmexxi attivitajiet ta’ intermedjarji fl-assigurazzjoni jew

tistabbilixxi jew takkwista sussidjarja f’xi pajji] barra minn Malta, [lief

bil-kunsens bil-miktub ta’ l-awtorità kompetenti.

12. (1) Fil-ka] li l-applikant ikun kumpannija lokali, hija {ti;iet speçifiçi

g[all-iskrizzjoni fil-

g[andha dritt li tkun iskritta fil-Lista ta’ l-A;enti, fil-Lista ta l-Managers ka] ta’ kumpanniji

jew fil-Lista ta’ l-Brokers jekk, flimkien mal-[ti;iet mni]]lin f’artikolu barranin.

10 ta’ dan l-Att, l-awtorità kompetenti tkun sodisfatta li -

(a) il-kumpannija tkun re;istrata jew permessa fil-pajji] fejn

l-uffiççju prinçipali tag[ha jkun qieg[ed sitwat biex tmexxi

attivitajiet ta’ intermedjarji fl-assigurazzjoni<

(b) il-kumpannija jkollha f’kull waqt f’Malta-

(i) ferg[a< u

(ii) rappre]entant>

I]da, kumpannija li twettaq kummerç b[ala broker fl-

assigurazzjoni ristrett g[al kuntratti ta’ assigurazzjoni li

jirrigwardaw riskji sitwati barra minn Malta tista’, jew minflok

jew b’]ieda mal-ftu[ ta’ ferg[a f’Malta, ta[tar manager fl-

assigurazzjoni iskritt ta[t l-Att, biex imexxi tali kummerç< u

sakemm dak il–manager fl-assigurazzjoni jibqa j]omm dik

il-[atra, il-kummerç ta‘ broking ta’ l-assigurazzjoni g[andu

jkun ta[t it-tmexxija ta’broker fl-assigurazzjoni re;istrat.

(2) Dwar ferg[a ta’ kumpannija barranija li tkun qed tmexxi

xi attivitajiet ta’ intermedjarji fl-assigurazzjoni li jistg[u jkunu ordnati,

l-attivitajiet ta’ intermedjarji fl-assigurazzjoni g[andhom ji;u mmexxija

min dik il-ferg[a minn individwu li jkun jissodisfa dawn il-[ti;iet li

(a) fil-ka] ta’ kumpannija li tmexxi attivitajiet ta’ kummerç

fl-assigurazzjoni -

(i) l-individwu ikun re;istrat fir-Re;istru ta’ l-A;enti,

fir-Re;istru tal-Managers jew fir-Re;istru tal-Brokers<

(ii) l-individwu ikun direttur tal-kumpannija jew ikollu

l-awtorità ja;ixxi g[an-nom ta’ dik il-kumpannija u l-

attivitajiet ta’ intermedjarji fl-assigurazzjoni jitmexxew ta[t

id-direzzjoni tieg[u<

(iii) l-individwu ma jkunx uditur approvat, jew soçju

jew impjegat ta’ uditur approvat tal-kumpannija<

(b) fil-ka] ta’ kumpannija li tmexxi attivitajiet o[ra ta’

intermedjarji fl-assigurazzjoni li jistg[u jkunu ordnati, id-

disposizzjonijiet li jkunu ordnati.

13. (1) Applikazzjoni g[ar-re;istrazzjoni jew l-iskrizzjoni ta[t

dan l-artikolu g[andha ssir f’dik il-forma u b’dak il-mod li l-awtorità

kompetenti tista’ tistabbilixi minn ]mien g[all-]mien.

(2) L-awtorità kompetenti jkollha s-setg[a li te[tie; lil

applikant jipprovdi dak it-tag[rif li jidhrilha me[tie; sabiex tiddeçiedi

dwar applikazzjoni g[al re;istrazzjoni jew iskrizzjoni ta[t dan l-artikolu.

(3) L-awtorità kompetenti tista’ tag[ti re;istrazzjoni jew

iskrizzjoni ta[t dan l-artikolu biss jekk tkun sodisfatta, fuq il-ba]i tat-

tag[rif me[tie; li jing[ata ta[t dan l-Att u kull tag[rif li hija tirçievi, li

g[andha ting[ata r-registrazzjoni jew l-iskrizzjoni.

(4) Bla [sara g[ad-disposizzjonijiet ta’ dan l-Att, l-awtorità

kompetenti tista’ tissu;;etta re;istrazzjoni jew iskrizzjoni mag[mula

ta[t dan l-artikolu g[al dawk il-kundizzjonijiet li minn ]mien g[al ]mien

jidhrilha li jkunu xierqa li timponi.

(5) L-awtorità kompetenti g[andha tiddeçiedi applikazzjoni

g[al re;istrazzjoni jew iskrizzjoni ta[t dan l-artikolu fi ]mien tliet xhur

minn meta tirçievi t-tag[rif li hu me[tie; li jing[ata ta[t dan l-Att< u

jekk tirrifjuta li tag[ti r-re;istrazzjoni jew l-iskrizzjoni, hija g[andha

tg[arraf lill-applikant bil-miktub ir-ra;unijiet g[ar-rifjut>

I]da, f’kull ka] l-awtorità kompetenti tista’ tie[u dawk il-

mi]uri li jidhirlha me[tie;a biex jit[ares l-interess tal-pubbliku.

14. (1) Ma’ l-g[oti tar-re;istrazzjoni jew iskrizzjoni ta[t l- ?ertifikat ta’

artikolu 13 ta’ dan l-Att, l-awtorità kompetenti g[andha to[ro; lill- re;istrazzjoni

iskrizzjoni ta’ l-

applikant konçernat çertifikat ta’ re;istrazzjoni jew iskrizzjoni fil-forma intermedjarji.

u bil-mod li jidhrilha xieraq u li jkun juri -

(a) fil-ka] ta’ applikazzjoni g[al re;istrazzjoni, ir-

re;istrazzjoni ta’ l-applikant konçernat fir-Re;istru ta’ l-A;enti,

fir-Re;istru tal-Managers jew fir-Re;istru tal-Brokers, skond kif

ikun il-ka]<

(b) fil-ka] ta’ applikazzjoni g[al iskrizzjoni, iskrizzjoni ta’

l-applikant konçernat fil-Lista ta’ l-A;enti, fil-Lista tal-Managers

jew fil-Lista tal-Brokers skond kif ikun il-ka]<

(2) ?ertifikat ta’ re;istrazzjoni jew iskrizzjoni ma[ru; ta[t

dan l-artikolu jew kopja uffiçjali tieg[u, g[andha titqieg[ed g[all-wiri

f’post prominenti mid-detentur konçernat fil-post jew fil-postijiet tan-

negozju tieg[u, jew f’parti minnhom fejn il-pubbliku jkollu aççess.

(3) L-awtorità kompetenti tista’ permezz ta’ regola dwar l-

intermedjarji fl-assigurazzjoni mag[mula g[all-fini ta’ dan l-artikolu,

tiddetermina d-dettalji li g[andhom ji;u inklu]i fiç-çertifikat ta’

re;istrazzjoni jew ta’ iskrizzjoni.

TAQSIMA IV

SETG{AT TA’ INTERVENT FIL-KONFRONT TA’ PERSUNI

ISKRITTI SKOND TAQSIMA III TA’ DAN L-ATT

15. (1) Intermedjarju re;istrat jew iskritt skond dan l-Att g[andu

awtomatikament jit[assar minn fuq ir-Re;istru jew Lista, jekk -

(a) l-intermedjarju ma jibdiex imexxi attivitajiet

ta’intermedjarji fl-assigurazzjoni fi ]mien tnax-il xahar mir-

re;istrazzjoni jew mill-iskrizzjoni tieg[u, jew f’dak i]-]mien l-ie[or

li jista’ ji;i speçifikat fiç-çertifikat tar-re;istrazzjoni jew iskrizzjoni<

jew

(b) l-intermedjarju jkun ;ie dikjarat fallut jew imur

f’likwidazzjoni jew jag[mel kompo]izzjoni mal-kredituri tieg[u jew

xort’o[ra jkun xolt< jew

(ç) l-intermedjarju ma jkunx waqaf milli jopera b’ri]ultat ta’

merger ma’ kumpannija o[ra li tmexxi attivitajiet ta’ intermedjarji

fl-assigurazzjoni jew g[al kull ra;uni o[ra tkun liema tkun< jew

(d) fil-ka] ta’ kumpannija barranija iskritta skond m’hemm

fl-artikolu 13 ta’ dan l-Att, u l-awtorità regolatorja barranija fil-pajji]

tar-re;istrazzjoni jew fejn ikun jinstab l-uffiççju prinçipali, jirtira ir-

re;istrazzjoni jew il-permess li tmexxi dawk l-attivitajiet.

(2) Paragrafu (a) tas-subartikolu (1) ta’ dan l-artikolu

m’g[andux japplika g[all-persuna iskritta biex ta;ixxi b[ala manager fl-

assigurazzjoni.

16. Bla [sara g[al kull [a;a li tinsab f’xi disposizzjoni o[ra ta’

dan l-Att, l-awtorità kompetenti tista’ f’kull ]mien tissospendi r-

registrazzjoni jew l-iskrizzjoni jew t[assar mir-Re;istru ta’ l-A;enti,

mir- Re;istru tal-Managers jew mir-Re;istru tal-Brokers jew mil-Lista

ta’ l-A;enti, mil-Lista tal-Managers jew mil-Lista tal-Brokers l-isem

ta’ kull persuna re;istrata jew kumpannija iskritta jekk -

(a) xi dokument jew tag[rif li jing[ata ma’ applikazzjoni g[ar-

re;istrazzjoni jew iskrizzjoni, jew xi tag[rif li jing[ata dwarha, ikun

falz, mhux korrett jew qarrieqi f’xi dettal materjali, jew jekk il-persuna

re;istrata jew iskritta tkun [biet, jew [biet minn, jew tonqos li tg[arraf

lil, l-awtorità kompetenti b’xi dokument jew tag[rif jew tibdil fih

li kienet fid-dmir li tikxef jew li tg[arraf ta[t dan l-Att jew

regolamenti mag[mulin bis-sa[[a tieg[u, jew b’regoli dwar l-

intermedjarji fl-assigurazzjoni< jew

(b) tikkunsidra li l-persuna re;istrata jew iskritta ma tkunx

tissodisfa il-[ti;iet ta’, jew tkun kisret, xi wa[da mid-disposizzjonijiet

ta’ dan l-Att jew ta’ xi regolamenti mag[mulin bis-sa[[a tieg[u,

jew ta’ xi regola dwar l-intermedjarji fl-assigurazzjoni, jew tkun

naqset li tissodisfa jew t[ares xi kundizzjoni li hu jew hi, jew ir-

re;istrazzjoni jew l-iskrizzjoni, ikunu so;;etti g[aliha bis-sa[[a ta’

dan l-Att jew ta[tu< jew

(ç) tikkunsidra li l-persuna re;istrata jew iskritta ma tkunx

tajba biex isimha jibqa’ fuq ir-Re;istru ta’ l-A;enti, ir-Re;istru tal-

Managers jew ir- Re;istru tal-Brokers jew fuq il-Lista ta’ l-A;enti,

il-Lista tal-Managers jew il-Lista tal-Brokers< jew

(d) il-kumpannija iskritta ma tkunx immexxija b’mod tajjeb

u prudenti biex isimha jibqa’ fuq il-Lista ta’ l-A;enti, il-Lista tal-

Managers jew il-Lista tal-Brokers< jew

(e) tirçievi talba bil-miktub biex tag[mel hekk ming[and

il-persuna re;istrata jew iskritta< jew

(f) il-persuna iskritta ma jkunx fadlilha il-fondi tal-persuna

nnifisha g[andu jkollha bi]]ejjed kemm me[tie;< jew

(g) il-persuna iskritta tonqos li t[allas id-dritt ta’ kull sena

meta jkun dovut biex tibqa’ re;istrata jew tibqa’ iskritta< jew

(h) il-persuna re;istrata jew iskritta tkun ;iet dikjarata falluta

jew il-kumpannija iskritta tmur f’likwidazzjoni jew tag[mel

kompo]izzjoni mal-kredituri tag[ha jew xort’o[ra tkun xolta< jew

(i) jekk il-kumpannija iskritta ma jibqax ikollha fuq il-bord

tad-diretturi tag[ha xi persuna li tkun persuna re;istrata< jew

(j) tikkunsidra li, min[abba l-mod li bih il-persuna re;istrata

jew iskritta tkun qed tmexxi l-attivitajiet ta’ intermedjarju fl-

assigurazzjoni, jew g[al xi ra;uni valida o[ra, l-interess ta’ l-

industrija ta’ l-assigurazzjoni jew tal-pubbliku ikun mhedded< jew

(k) il-persuna re;istrata jew il-persuna iskritta tkun

ikkommettiet mi]approprjazzjoni jew ikkonvertiet g[all-u]u tag[ha

jew ]ammet illegalment flus li jkunu mi]muma, jew me[tie;a li

jin]ammu, minnha b[ala fiduçjarja< jew

(l) il-persuna re;istrata jew iskritta tinsab [atja minn qorti

ta’ xi reat kriminali, li ma jkunx reat li, min[abba ç-çokon tieg[u

jew iç-çirkostanzi li fih ikun sar, ma jirrendihix mhux idonea biex

isimha jkun fuq ir-Re;istru ta’ l-A;enti, ir- Re;istru tal-Managers

jew ir- Re;istru tal-Brokers jew fuq il-Lista ta’ l-A;enti, il-Lista

tal-Managers jew il-Lista tal-Brokers< jew

(m) il-persuna re;istrata jew iskritta tkun meqjusa mill-

awtorità kompetenti li tkun mexxiet attivitajiet ta’ intermedjarji fl-

assigurazzjoni b’mod mhux professjonali< jew

(n) l-awtorità kompetenti ma tkunx tista’ te]erçita

effettivament il-funzjonijiet tag[ha ta’ sorveljanza min[abba li jkunu

je]istu rabtiet mill-qrib kif jista’ ji;i mfisser f’regoli dwar l-

intermedjarji fl-assigurazzjoni mag[mula ta[t dan l-Att.

17. (1) Bla [sara g[ad-disposizzjonijiet li ;ejjin ta’ dan l-artikolu,

meta l-awtorità kompetenti tkun bi [siebha tissospendi jew t[assar l-isem

t[assir ta’ isem mir-

ta’ persuna re;istrata jew iskritta mir-Re;istru ta’ l-A;enti, mir-Re;istru

tal-Managers jew mir-Re;istru tal-Brokers jew mil-Lista ta’ l-A;enti,

mil-Lista tal-Managers jew mil-Lista tal-Brokers, din g[andha tag[ti avvi]

bil-miktub lill-persuna konçernata fejn tag[ti r-ra;unijiet g[aliex bi [siebha

tag[mel hekk.

(2) Kull avvi] mog[ti ta[t is-subartikolu (1) g[andu jkun

jg[id li l-persuna konçernata tista’, f’dak i]-]mien ra;onevoli min-notifika

li jing[ad fl-avvi] (li ma jkunx ta’ inqas minn tmienja u erbg[in sieg[a u

mhux iktar minn [mistax-il jum) tag[mel l-ilmenti tag[ha bil-miktub lill-

awtorità kompetenti fejn tag[ti r-ra;unijiet g[aliex ir-re;istrazzjoni jew l-

iskrizzjoni ma g[andhiex ti;i sospi]a jew tit[assar mir-Re;istru ta’ l-

A;enti, mir-Re;istru tal-Managers jew mir-Re;istru tal-Brokers jew

mil-Lista ta’ l-A;enti, mil-Lista tal-Managers jew mil-Lista tal-Brokers

u l-awtorità kompetenti tista’ tikkunsidra kull ilment hekk mag[mul qabel

ma tasal g[al deçi]joni finali.

(3) L-awtorità kompetenti g[andha tav]a bil-miktub id-

deçi]joni finali tag[ha lill-persuna konçernata.

(4) Ma’ l-avvi] mill-awtorità kompetenti lil persuna li isimha

jkun sospi] jew li jkun t[assar mir-Re;istru ta’ l-A;enti, mir- Re;istru

tal-Managers jew mir- Re;istru tal-Brokers jew mil-Lista ta’ l-A;enti,

mil-Lista tal-Managers jew mil-Lista tal-Brokers, l-intermedjarju

konçernat g[andu minnufih jikkonsenja lill-awtorità kompetenti ç-

çertifikat tar- re;istrazzjoni jew iskrizzjoni, u kull kopji uffiçjali tieg[u<

u f’kull ka], l-awtorità kompetenti tista’ tie[u dik il-mi]ura l-o[ra li

jidhrilha me[tie;a biex t[ares l-interessi ta’ l-assigurati, tad-detenturi

ta’ polza, tal-kredituri jew ta’ persuni o[ra li jkollhom interess.

(5) F’ka]ijiet fejn l-awtorità kompetenti tkun issospendiet

r-re;istrazzjoni jew l-iskrizzjoni jew tkun [assret isem il-persuna mir-

Re;istru ta’ l-A;enti, mir- Re;istru tal-Managers jew mir-Re;istru tal-

Brokers jew mil-Lista ta’ l-A;enti, mil-Lista tal-Managers jew mil-Lista

tal-Brokers g[al xi wa[da mir-ra;unijiet speçifiki fl-artikolu 16 ta’ dan l-

Att, hija tista’ jekk, tag[]el li tag[mel dan, tag[ti pubbliçita lil dik is-

sospensjoni jew t[assir b’mod li jidrilha xieraq.

(6) L-awtorità kompetenti jkollha s-setg[a li tordna li l-ispejje]

kollha ta’ pubblikazzjoni ta’ avvi] li ssir bis-sa[[a ta’ dan l-artikolu, jew

parti minnhom skond ma’ jidhrilha xieraq, g[andhom jit[allsu mill-

persuna konçernata< u kull somma hekk dovut g[andha tin;abar mill-

awtorità kompetenti bl-istess mod b[alma tin;abar penali amministrattiva

dovuta skond dan l-Att.

18. (1) Meta l-isem ta’ persuna jkun t[assar mir-Re;istru ta’ l- Restituzzjoni ta’

isem li jkun t[assar

A;enti, mir-Re;istru tal-Managers jew mir- Re;istru tal-Brokers jew mir-Re;istrujew

mil-Lista ta’ l-A;enti, mil-Lista tal-Managers jew mil-Lista tal-Brokers mil-Lista.

skond deçi]joni li tittie[ed ta[t l-artikolu 16 ta’ dan l-Att, l-isem ta’ dik

il-persuna ma jer;g[ax jid[ol fir-re;istru jew fil-lista kemm-il darba –

(a) ma jkunx ordnat xort’o[ra mit-Tribunal< jew

(b) fin-nuqqas ta’ dak l-ordni, l-awtorità kompetenti, wara

applikazzjoni mag[mula lilha g[al dan l-g[an, ma tiddeçidix

xort’o[ra<

(2) L-awtorità kompetenti g[andha tiddeçiedi fuq

applikazzjoni g[ar-restituzzjoni ta’ isem ta’ persuna fir-Re;istru ta’ l-

A;enti, fir-Re;istru tal-Managers jew fir- Re;istru tal-Brokers jew fil-

Lista ta’ l-A;enti, fil-Lista tal-Managers jew fil-Lista tal-Brokers ta[t

dan l-artikolu fi ]mien tliet xhur minn meta tirçievi t-tag[rif me[tie; li

jing[ata ta[t dan l-Att daqslikieku l-applikazzjoni kienet applikazzjoni

mag[mula ta[t l-artikolu 13 ta’ dan l-Att< u jekk tirrifjuta li tirrestitwixxi

isem ta’ persuna jew ta’ kumpannija fir-re;istru jew fil-lista, din g[andha

tg[arraf bil-miktub lill-applikant bir-ra;unijiet g[ar-rifjut.

(3) Is-subartikolu (2) ma japplikax meta r-restituzzjoni ta’

isem ta’ persuna fir-Re;istru ta’ l-A;enti, fir-Re;istru tal-Managers jew

fir-Re;istru tal-Brokers jew fil-Lista ta’ l-A;enti, fil-Lista tal-Managers

jew fil-Lista tal-Brokers issir b’ordni tat-Tribunal.

19. (1) Bla [sara g[as-seg[at mog[tija lill-awtorità kompetenti Setg[a ta’ l-awtorità

kompetenti li t[ares

ta[t l-artikolu 16 ta’ dan l-Att, l-awtorità kompetenti tista’, fejn tkun l-interess pubbliku.

sodisfatta li je]istu çirkostanzi serji bi]]ejjed, tipproçedi biex tie[u xi

wa[da jew i]jed mill-mi]uri li ;ejjin>

(a) billi te[tie; lill-intermedjarju minnufih jie[u dawk il-

passi skond ma l-awtorità kompetenti tista’ tqis li jkunu me[tie;a

biex il-kwistjoni ti;i rettifikata jew rimedjata<

(b) billi ta[tar persuna biex tag[ti pariri lill-intermedjarju dwar

kif g[andu jmexxi l-kummerç tieg[u sew<

(ç) billi ta[tar persuna biex tie[u [sieb ta’ l-attiv kollu ta’ l-

intermedjarju, jew ta’ xi sehem minnhom, sabiex ji;u m[arsa l-

interessi ta’ l-assigurati, tad-detenturi ta’ polza, tal-kredituri u ta’

azzjonisti tal-kumpannija<

(d) billi ta[tar persuna li tassumi kontroll tal-kummerç ta’ l-

intermedjarju jew li tmexxi dak il-kummerç jew li twettaq dik il-

funzjoni jew funzjonijiet o[ra dwar tali kummerç, jew parti minnu,

hekk kif tista’ tordna l-awtorità kompetenti<

(e) billi tag[ti ordni g[ax-xoljiment u l-istralç ta’ kumpannija

jew fil-ka] ta’ kumpannija barranija, g[ax-xoljiment tal-kummerç

tag[ha f’Malta<

(f) billi ta[tar persuna kompetenti biex tag[milha ta’ stralçjarju

g[all-fini ta’ l-istralç tal-kummerç tal-kumpannija iskritta<

(g) billi tistabbilixxi r-rimunerazzjoni li g[andha tit[allas mill-

intermedjarju lil xi persuna ma[tura ta[t dan l-artikolu<

(h) billi te[tie; lill-intermedjarju jippre]enta pjan ta’ rkupru

finanzjarju jekk jidhrilha li l-interess ta’ l-assigurati, tad-detenturi

ta’ polza, tal-kredituri jew persuni o[ra li jkollhom interess x’aktarx

ikunu pre;udikati min[abba fid-deterjorazzjoni fil-qag[da finanzjarja

ta’ l-intermedjarju<

(i) billi te[tie; lill-persuna re;istrata jew iskritta biex tne[[i

l-kelma “assigurazzjoni” b[ala parti minn isimha jew b[ala mid-

deskrizzjoni tat-titolu tag[ha, u li ma tu]ax l-imsemmija kelma fuq

xi ittra, karta, f’xi avvi] jew reklam jew b’xi mod ie[or, ikun li jkun<

(j) billi tag[mel kull att ie[or jew te[tie; li jsir kull att ie[or

b[al ma jitqies li jkun adatt fiç-çirkostanzi,

u wara li tkun imxiet f’xi mod wie[ed jew aktar minn dawk hawn

qabel imsemmija, l-awtorità kompetenti tista’, iktar minn hekk

tg[addi g[al xi mod wie[ed jew aktar minn dawk hawn qabel

imsemmija, kemm b’]ieda ma’ dan kollu, jew f’sostituzzjoni g[alih.

(2) Meta tin[atar persuna mill-awtorità kompetenti -

(a) ta[t il-paragrafu (b) tas-subartikolu (1) ta’ dan l-artikolu,

ikun id-dmir ta’ l-intermedjarju li ja;ixxi skond il-parir mog[ti minn

dik il-persuna kemm-il darba u sakemm l-awtorità kompetenti,

min[abba f’ilment li jsirilha, ma tordnax xort’o[ra<

(b) ta[t il-paragrafu (ç) tas-subartikolu (1) ta’ dan l-artikolu,

l-intermedjarju g[andu jikkonsennja lil dik il-persuna l-attiv kollu li

jkun responsabbli g[alih, u l-poteri, il-funzjonijiet u d-dmirijiet kollha

ta’ l-intermedjarju fir-rigward ta’ dak l-attiv kollu, u dwar

kumpannija, sew jekk dawn ikunu e]erçitati mill-intermedjarju waqt

laqg[a ;enerali, jew mid-diretturi, jew minn xi persuna o[ra, inklu]a

r-rappre]entanza legali u gudizzjarja ta’ l-intermedjarju, g[andhom

ji;u e]erçitati minn u jvestu fil-persuna ma[tura ta[t dak il-paragrafu

b’esklu]joni ta’ kull persuna o[ra<

(ç) ta[t il-paragrafu (d) tas-subartikolu (1) ta’ dan l-artikolu,

l-intermedjarju g[andu jqieg[ed il-kummerç tieg[u ta[t il-kontroll

ta’ dik il-persuna u hija g[andha tipprovdilu dawk il-façilitajiet li

jista’ jkun je[tie; li l-intermedjarju jipprovdih bihom biex tmexxi

dak il-kummerç jew biex taqdi l-funzjonijiet lilha mog[tija ta[t dak

il-paragrafu< u l-poteri, il-funzjonijiet u d-dmirijiet kollha ta’ l-

intermedjarju, u dwar kumpannija, sew jekk dawn ikunu e]erçitati

mill-intermedjarju waqt laqg[a ;enerali, jew mid-diretturi, jew minn

xi persuna o[ra, inklu]a r- rappre]entanza legali u ;udizzjarja tal-

kumpannija, ghandhom ji;u e]erçitati minn, u jvestu fil-persuna

ma[tura ta[t dak il-paragrafu b’esklu]joni ta’ kull persuna o[ra<

(d) ta[t il-paragrafu (f) tas-subartikolu (1) ta’ dan l-artikolu,

dik il-persuna tkun l-istralçjarju ta’ l-intermedjarju g[all-finijiet kollha

tal-li;i b’esklu]joni ta’ kull persuna o[ra.

(3) Fil-ka] ta’ kumpannija barranija, il-ferg[at u l-uffiççji

f’Malta ta’ dik il-kumpannija g[andhom, jekk l-awtorità kompetenti hekk

tordna u sal-limitu li hekk tordna, jitqiesu li jikkostitwixxu kumpannija

separata.

TAQSIMA V

OBBLIGAZZJONIJIET TA‘ PERSUNI ISKRITTI SKOND

TAQSIMA III TA’ DAN L-ATT

20. (1) Kull persuna iskritta skond l-artikolu 13 ta’ dan l-Att Flejjes mi]muma

f’kapaçita

g[andha ]]omm il-flejjes kollha li jkunu g[andha f’kapaçità fiduçjarja fiduçjarja.

separati mill-flejjes tag[ha stess u g[andha, dwar dawk il-flejjes, i]]omm

kontijiet separati skond [ti;iet stabbiliti minn regola dwar intermedjarji

fl-assigurazzjoni mag[mula g[all-finijiet ta’ dan l-artikolu.

(2) Ebda persuna m’g[andu jkollha jew tikseb xi rimedju

jew dritt dwar flejjes li jkunu bi kreditu tal-kont imsemmi fis- subartikolu

(1) dwar xi talba jew dritt kontra persuna iskritta sakemm kull talba proprja

li ;ejja minn attivitajiet ta’intermedjarji fl-assigurazzjoni g[al dawk il-

flejjes tkun ;iet sodisfatta, ukoll fil-ka] ta’ falliment ta’ l-individwu jew

stralç tal-kumpannija, skond kif ikun il-ka].

21. (1) Bla [sara g[all-artikolu 20 ta’ dan l-Att, kull persuna

Garanzija ta’ fedeltà

iskritta skond artikolu 13 ta’ dan l-Att g[andha tag[mel garanzija ta’

fedeltà f’forma speçifikata, dwar attivitajiet ta’ intermedjarja fl-

assigurazzjoni imexxija mill-intermedjarju konçernat, f’dawk iç-

çirkustanzi, ta’ dak il-valur, b’dak il-mod u ta[t dawk il-kundizzjonijiet

li jistg[u ji;u stabbiliti b’regola dwar intermedjarji fl-assigurazzjoni

mag[mula g[all-finijiet ta’ dan l-artikolu.

(2) Il-garanzija msemmija fis-subartikolu (1) g[andha

tipprovdi li fil-ka] li persuna iskritta ma tkunx tista’ jew tonqos milli

tissodisfa l-obbligazzjonijiet finanzjarji tag[ha dwar xi somom ta’ flus

riçevuti minnha ming[and il-klijienti tag[ha, jew g[an-nom tag[hom,

g[andha titqieg[ed somma ta’ flus g[ad-disposizzjoni ta’ persuna

nominata jew approvata mill-awtorità kompetenti biex tintu]a g[all-

benefiççju ta’ xi klijent tal-persuna iskritta li jkun sofra telf jew dannu

min[abba li l-persuna iskritta ma tkunx setg[at jew naqset milli tissodisfa

dawk l-obbligazzjonijiet finanzjarji tag[ha.

22. Id-disposizzjonijiet ta’ l-artikoli 20 u 21 ta’ dan l-Att ma’

japplikawax g[al persuna iskritta b[ala manager fl-assigurazzjoni g[al

dak i]-]mien li l-persuna ma jkolliex [atra minn xi assiguratur jew minn

broker fl-assigurazzjoni biex ta;ixxi f’dik il-kapaçità.

23. Kull kumpannija iskritta g[andha, mhux iktar tard mill-a[[ar

ta’ Jannar ta’ kull sena, tag[ti avvi] bil-miktub lill-awtorità kompetenti

b’dak il-mod li l-awtorità kompetenti tista’ te[tie;, l-isem u dettalji l-

o[ra li wkoll tista’ te[tie;, ta’ kull direttur u impjegat tal-kumpannija li

jkunu re;istrati fir-Re;istru ta’ l-A;enti, fir-Re;istru tal-Managers jew

fir-Re;istru tal-Brokers< u matul it-tnax-il xahar ta’ wara, il-kumpannija

g[andha tag[ti avvi] bil-miktub lill-awtorità kompetenti b’kull tibdil

li, minn ]mien g[al ]mien, jista’ jkun hemm fost dawk id-diretturi u

impjegati, u dak l-avvi] g[andu jing[ata f’dak il-perjodu kif jista’ jkun

imsemmi f’regola ta’ l-intermedjarji fl-assigurazzjoni.

24. (1) Kull kumpannija iskritta g[andha, mhux iktar tard minn

erba’ xhur mid-data ta’ l-g[eluq tas-sena finanzjarja tag[ha, jew f’xi ]mien

ie[or li eççezzjonalment ikun awtorizzat bil-miktub mill-awtorità

kompetenti, tibg[at lill-awtorità kompetenti kopja tad-dikjarazzjonijiet

finanzjarji verifikati tag[ha li jkunu saru -

(a) fil-ka] ta’ kumpannija lokali, skond id- disposizzjonijiet

ta’ l-Att dwar il-Kumpanniji< u

(b) fil-ka] ta’ kumpannija barranija, skond id-

disposizzjonijiet tal-li;ijiet tal-pajji] fejn l-uffiççju re;istrat jew l-

uffiççju prinçipali tal-kumpannija jkun sitwat li jirregolaw id-

dikjarazzjonijiet finanzjarji ta’ dawn il-kumpanniji.

(2) Kull persuna iskritta li tkun individwu g[andha tipprovdi

dikjarazzjonijiet dwar kull d[ul li jkunu saru kif stabbilit minn regola

dwar l-intermedjarji fl-assigurazzjoni li tkun saret g[all-fini ta’ dan l-

artikolu u dawn id-dikjarazzjonijiet g[andhom jintbg[atu lill-awtorità

kompetenti f’dak il-perjodu li jista’ jkun b’regola stabbilit.

25. (1) Bla [sara g[as-subartikoli li ;ejjin ta’ dan l-artikolu, G[oti ta’

persuna iskritta li f’xi sena kalendarja tmexxi attivitajiet ta’ intermedjarji dikjarazzjonijiet

dwar il-kummerç ta’

fl-assigurazzjoni g[andha, dwar l-attivitajiet ta’ intermedjarji fl- l-intermedjarji fl-

assigurazzjoni.

assigurazzjoni li hekk tkun mexxiet, tibg[at lill-awtorità kompetenti

dikjarazzjoni dwar dak il-kummerç mag[mula f’dik il-forma, f’dak il-

mod u b’dak il-kontenut li l-awtorità kompetenti tista’ tistabbilixxi b’regola

dwar intermedjarji fl-assigurazzjoni mag[mula g[all-finijiet ta’ dan l-

artikolu< u d-data sa meta dik id-dikjarazzjoni g[andha tintbag[at tkun

ukoll stabbilita b’dik ir-regola.

(2) Id-dikjarazzjoni li g[andha ting[ata ta[t dan l-artikolu

g[andha tkun verifikata bil-mod me[tie; bir-regola dwar intermedjarji

fl-assigurazzjoni.

(3) L-awtorità kompetenti tista’ f’kull ]mien tordna lil

persuna iskritta biex tag[tiha dik id-dikjarazzjoni kull tant ]mien u g[al

dak il-perijodu li tista’ tispeçifika f’dik ir-regola.

26. Persuna iskritta ma g[andhiex tieqaf milli tmexxi, f’Malta jew Persuni iskritti li

jiefqu mit-tmexxija

minn Malta, attivitajiet ta’ intermedjarju fl-assigurazzjoni [lief bil-permess ta’ kummerç b[ala

ta’ l-awtorità kompetenti mog[ti bil-miktub fuq applikazzjoni li ssirilha intermedjarji

assigurazzjoni.

g[aldaqshekk b’dak il-mod li tista’ te[tie;, u bit-t[aris ta’ dawk il-

kundizzjonijiet li jidhirlha xierqa li timponi.

TAQSIMA VI

SENA FINANZJARJA U UDITURI

27. (1) Kull kumpannija iskritta ta[t l-artikolu 13 ta’ dan l-Att li

tkun kumpannija lokali g[andha, mhux iktar tard minn tliet xhur mid-

data ta’ l-iskrizzjoni tal-kumpannija, tav]a bil-miktub lill-awtorità

kompetenti meta tkun is-sena finanzjarja tag[ha u, fin-nuqqas ta’ dak l-

avvi], is-sena finanzjarja tal-kumpannija iskritta g[andha tintemm fil-

wie[ed u tletin ta’ Diçembru ta’ kull sena.

(2) Ebda kumpannija iskritta kif hawn qabel imsemmi ma

g[andha tibdel is-sena finanzjarja tag[ha kemm-il darba u sakemm l-

awtorità kompetenti ma tkunx tat l-approvazzjoni tag[ha bil-miktub fuq

applikazzjoni li ssirilha g[aldaqshekk.

(3) Kull kumpannija barranija li tapplika g[all-iskrizzjoni ta[t

l-artikolu 13 ta’ dan l-Att g[andha, ma’ l-applikazzjoni, tav]a bil-miktub

lill-awtorità kompetenti meta tkun is-sena finanzjarja tag[ha< u wara l-

iskrizzjoni ta[t dak l-artikolu, meta kumpannija barranija tibdel is-sena

finanzjarja tag[ha, din g[andha minnufih tav]a bil-miktub lill-awtorità

kompetenti b’dak it-tibdil.

(4) G[all-finijiet ta’ dan l-Att “sena finanzjarja”-

(a) dwar kumpannija iskritta li tkun kumpannija lokali, tfisser

perijodu ta’ kontijiet kif jiftiehem skond l-artikoli minn 164 sa 166

ta’ l-Att dwar il-Kumpanniji<

(b) dwar kumpannija iskritta li tkun kumpannija barranija,

tfisser perijodu ta’ kontijiet kif jiftiehem skond id-disposizzjonijiet

tal-li;ijiet tal-pajji] fejn ikun qieg[ed l-uffiççju rre;istrat jew l-uffiççju

prinçipali tal-kumpannija li jkunu jirregolaw il-perijodu ta’ kontijiet

ta’ dawk il-kumpanniji.

28. (1) Kull kumpannija iskritta ta[t l-artikolu 13 ta’dan l-Att

g[andha kull sena ta[tar uditur approvat b[ala uditur tal-kumpannija li

d-dmir tieg[u jkun li jirrapporta dwar id-dikjarazzjonijiet finanzjarji

tal-kumpannija e]aminati minnu u dwar id-dikjarazzjonijiet finanzjarji

m[ejjija mill-kumpannija.

(2) Jekk kumpannija iskritta tonqos li ta[tar uditur skond

is-subartikolu (1) ta’ dan l-artikolu jew, f’xi ]mien tonqos li timla

vakanza fil-kariga ta’ uditur, l-awtorità kompetenti jkollha s-setg[a li

ta[tar uditur g[al dik il-kumpannija u g[andha tistabbilixxi r-

remunerazzjoni li g[andha tit[allas minn dik il-kumpannija lil dak l-

uditur.

(3) Ir-rapport ta’ l-uditur g[andu jinkludi dikjarazzjoni dwar

jekk id-diversi [ti;iet ta’ dan l-Att u ta’ kull regolamenti mag[mulin ta[tu

u ta’ kull regola dwar l-intermedjarji fl-assigurazzjoni dwar il-kumpannija

iskritta ikunux t[arsu u ;ew osservati.

(4) Kull uditur ta’ kumpannija iskritta jkollu l-jedd li jitlob

dak it-tag[rif jew spjegazzjoni li jidhirlu me[tie;a fil-qadi tad-dmirijiet

tieg[u ming[and kull uffiçjal jew impjegat ta’, jew kull persuna li jkollha

[atra minn, dik il-kumpannija.

(5) Uditur g[andu minnufih jav]a bil-miktub lill-awtorità

kompetenti jekk -

(a) jirri]enja<

(b)

ma jkunx bi [siebu jie[u dik il-kariga mill-gdid< jew

(ç) jiddeçiedi li jikkwalifika r-rapport ta’ verifika,

u, fis-sitwazzjonijiet imsemmija f’paragrafi (a) u (b) ta’ dan is-subartikolu,

l-uditur g[andu jispeçifika r-ra;unijiet g[aliex g[amel dan.

(6) Kumpannija iskritta g[andha tag[ti avvi] bil-miktub lill-

awtorità kompetenti minnufih malli tirçievi avvi] ta’ ri]oluzzjoni ma[sub

biex jitqieg[ed quddiem il-laqg[a ;enerali annwali tal-kumpannija biex

tin[atar b[ala uditur persuna li ma tkunx l-uditur li se jirtira jew li xort’o[ra

jipprovdi espressament li l-uditur li jkun se jirtira ma jer;ax ji;i ma[tur.

(7) Meta, g[al xi ra;uni tkun li tkun, il-[atra ta’ uditur

tintemm, il-kumpannija iskritta g[andha, mhux iktar tard minn erbatax-il

jum mit-tmiem ta’ dik il-[atra, tag[ti avvi] bil-miktub lill-awtorità

kompetenti fejn tg[id ir-ra;unijiet g[al dak it-tmiem.

(8) L-awtorità kompetenti tista’ te[tie; lil kumpannija iskritta

biex tibdel lill-uditur ma[tur minnha meta, fil-fehma ta’ l-awtorità

kompetenti, dak l-uditur jitqies li ma jkunx adatt g[al din il-kariga, f’xi

]mien matul il-perijodu tal-[atra tieg[u.

(9) Qabel ma te[tie; lil kumpannija iskritta biex tbiddel lill-

uditur tag[ha fiç-çirkostanzi msemmija fis-subartikolu (8) ta’ dan l-

artikolu, l-awtorità kompetenti g[andha tav]a bil-miktub l-intenzjoni

tag[ha lill-kumpannija u lill-uditur konçernat fejn tag[ti r-ra;unijiet li

te[tie; dak it-tibdil u tag[ti lill-uditur l-opportunità li jissottometti bil-

miktub, fi ]mien erbatax-il jum mid-data tan-notifika ta’ dak l-avvi], ir-

ra;uni g[aliex il-[atra tieg[u ma’ dik il-kumpannija ma g[andhiex

tintemm.

(10) G[all-finijiet ta’ dan l-Att, uditur approvat g[andu jkun

persuna li tkun kwalifikata biex tkun uditur skond l-Att dwar il-

Kumpanniji u li jkollha l-awtorizzazzjoni ta’ l-awtorità kompetenti biex

ta;ixxi b[ala uditur ma[ru;a lilha ta[t l-Att dwar il-Kummerç ta’ l-

Assigurazzjoni.

(11) Minkejja kull [a;a li tinsab fis-subartikoli ta’ qabel ta’

dan l-artikolu, l-awtorità kompetenti tista’, fil-ka] ta’ kumpannija barranija,

tapprova dawk l-arran;amenti alternattivi li jidhrilha ra;onevoli u li ma

jkunux jiddevjaw materjalment mill-g[anijiet ewlenin ta’ dan l-artikolu,

u meta dawk l-arran;amenti jkunu twettqu, id-disposizzjonijiet ta’ dan l-

artikolu ma g[andhomx japplikaw safejn ikunu sostitwiti b’dawk l-

arran;amenti.

(12) Jekk, fil-kariga tieg[u b[ala uditur ta’ kumpannija

iskritta jew b[ala ri]ultat ta’ talba diretta mill-awtorità kompetenti ta[t

dan l-Att, uditur isir jaf b’xi materja li jkollha x’taqsam ma’ u li jista’

jkollha effett avvers serju fuq l-istabbilità u s-sa[[a tal-kumpannija jew

l-integrità tal-kummerç tal-intermedjarju fl-assigurazzjoni f’Malta, huwa

g[andu minnufih jg[arraf lill-awtorità kompetenti permezz tad-direzzjoni

tal-kumpannija jew, jekk iç-çirkostanzi hekk ji;;ustifikaw, direttament

lill-awtorità kompetenti.

(13) G[all-finijiet tas-subartikolu (12), kull materja li jista’

jkollha x’taqsam ma’ u li jista’ jkollha effett avvers serju tinkludi kull

materja li -

(a) x’aktarx twassal g[al kwalifika serja, jew rifjut tar-rapport

ta’ l-uditur fuq il-kontijiet tal-kumpannija< jew

(b) b’mod serju tfixkel il-[ila tal-kumpannija li tkompli fil-

kummerç jew li tkompli l-attivitajiet li g[alihom twaqqfet< jew

(ç)

skond ma’ jista’ ji;i ordnat mill-Ministru.

(14) Uditur ta’ kumpannija iskritta ikollu bl-istess mod id-

dmir li jirrapporta lill-awtorità kompetenti kull fatt u deçi]joni li jkollhom

x’jaqsmu ma’ jew li jista’ jkollhom effett avvers serju fuq l-istabbilità u

s-sa[[a tal-kumpannija jew l-integrità ta’ l-attivitajiet ta’ intermedjarji

fl-assigurazzjoni f’Malta, u li jsir jaf bihom fil-kariga tieg[u b[ala uditur

ta’ kumpannija li jkollha rabtiet mill-qrib, skond kif imfisser fl-artikolu

10 ta’ dan l-Att.

29. Ebda dmir, inklu] id-dmir tas-sigriet professjonali, li g[alih -

(a) uditur ta’ kumpannija iskritta skond l-artikolu 13 ta’

dan l-Att jista’ jkun so;;ett, ma g[andu jitqies li jkun inkiser

min[abba li dan ikun b’bona fide ikkomunika lill-awtorità

kompetenti, sew jekk wara talba li din tkun g[amlet u sew jekk le,

xi informazzjoni jew opinjoni dwar materja li l-uditur ikun sar jaf

biha min[abba l-kariga tieg[u b[ala uditur ta’ dik il-kumpannija u

li tkun rilevanti g[al xi funzjoni ta’ l-awtorità kompetenti ta[t

id-disposizzjonijiet ta’ dan l-Att jew li tkun me[tie;a li tkun

komunikata bis-sa[[a ta’ dan l-Att<

(b) persuna ma[tura biex tag[mel rapport ta[t xi disposizzjoni

ta’ dan l-Att tista’ tkun so;;etta, ma g[andu jitqies li jkun inkiser

min[abba li dan ikun ikkomunika in bona fide lill-awtorità

kompetenti, sew jekk wara talba li din tkun g[amlet u sew jekk le,

fuq xi [a;a li g[andha x’taqsam mal-kummerç jew l-affarijiet ta’

kumpannija iskritta li dwarha jsir rapport.

TAQSIMA VII

DISPOSIZZJONIJIET APPLIKABBLI

G{ALL-INTERMEDJARJI LI JMEXXU KUMMER?

TA’ BROKERS FL-ASSIGURAZZJONI

30. Kumpannija lokali iskritta ta[t l-artikolu 13 ta’ dan l-Att u li {atra ta’manager

fl-assigurazzjoni

tkun qed tmexxi kummerç b[ala broker fl-assigurazzjoni, ristrett g[all- minn broker fl-

kuntratti ta’ assigurazzjoni li jirrigwardaw riskji sitwati barra minn Malta, assigurazzjoni

iskritt.

tista’ ta[tar manager fl-assigurazzjoni iskritt ta[t l-Att biex imexxi dak l-

kummerç< u sakemm il-manager fl-assigurazzjoni jibqa f’dik il-[atra, il-

kummerç ta’ broking fl-assigurazzjoni g[andu jkun ta[t it-tmexxija ta’

broker fl-assigurazzjoni re;istrat.

31. (1) Bla [sara g[as-subartikoli li ;ejjin, [lief bl- Kuntratti ta’

approvazzjoni tal-Ministru mog[tija b’mod ;enerali b’ordni fil-Gazzetta, assigurazzjoni

riskji sitwati f’Malta

jew bl-approvazzjoni ta’ l-awtorità kompetenti mog[tija speçifikament jew rabtiet meta

Malta tkun il-pajji]

bil-miktub, kuntratt ta’ l-assigurazzjoni dwar riskju sitwat f’Malta jew tar-rabta.

dwar rabta fejn Malta hija l-pajji] tar-rabta, negozjat, irran;at jew miksub

mill-broker fl-assigurazzjoni f’isem persuna assigurata jew tal-persuna

li tkun se ti;i g[andha ti;i assigurata g[andu jsir ma’ kumpannija

awtorizzata.

(2) Meta kuntratt ta’ assigurazzjoni jkun kuntratt ta’ klassi

ta’ kummerç ;enerali jew ta’ parti minn klassi li jaqa’ ta[t il-grupp 3 tal-

Parti II tat-Tielet Skeda li tinsab ma’ l-Att dwar il-Kummerç ta’ l-

Assigurazzjoni u dak il-kuntratt ikun kuntratt dwar riskju sitwat f’Malta

u jittie[ed ma’ mutual association, dik l-association g[andha tkun

association ta[t it-tifsira ta’ “mutual association” kif miftiehem skond

l-artikolu 6(3) ta’ l-imsemmi Att< u l-association g[andha jissodisfa

jew t[ares il-[ti;iet ta’ direttiva dwar l-assigurazzjoni mag[mula g[all-

finijiet ta’ l-imsemmi artikolu jew mad-data jew qabel id-data tal-bidu

fis-se[[ ta’ dak il-kuntratt jew mhux iktar tard minn tletin jum mid-

data ta’ dak il-bidu fis-se[[.

(3) {lief kif provdut fis-subartikolu (2), id-disposizzjonijiet

ta’dan l-artikolu ma japplikawx g[al -

(a) kummerç ta’ rijassigurazzjoni<

(b) riskji kbar kif ddefiniti minn l-Artikolu 5 tat-Tieni

Direttiva tal-Kunsill 88#357#KEE tat-22 ta’ :unju 1988 dwar il-

koordinazzjoni ta‘ li;ijiet, regolamenti u disposizzjonijiet

amministrattivi li ghandhom x’jaqsmu ma’ assigurazzjoni diretta

ta’ xort’ o[ra minn assigurazzjoni tal-[ajja u li jistipulaw id-

disposizzjonijiet li jiffaçilitaw l-e]erçizzju effettiv tal-liberta li ji;u

pprovduti servizzi u li temenda d-Direttiva 73#239#KEE.

32. (1) Bla [sara g[as-subartikoli li ;ejjin ta’ dan l-artikolu, kull

persuna li tkun iskritta ta[t l-artikolu 13 ta’ dan l-Att tista’ tag[mel jew

tikkuntratta kull underwriting agreement ma’ kull kumpannija

awtorizzata.

(2) Ebda persuna iskritta kif imsemmi qabel ma g[andhiex

tag[mel jew tikkuntratta xi underwriting agreement kemm-il darba, dwar

dak l-underwriting agreement, il-persuna ma’ t[arisx, jew ma tissodisfax,

dawk il-[ti;iet li l-awtorità kompetenti, tista’ permezz ta’regola dwar l-

intermedjarji fl-assigurazzjoni mag[mula g[all-finijiet ta’ dan l-artikolu,

tistabbilixxi.

(3) Kull persuna iskritta kif imsemmi hawn qabel g[andha

tirre;istra g[and l-awtorità kompetenti kull underwriting agreement

mag[mul jew ikkuntrattat ta[t dan l-artikolu fl-g[amla u bil-mod li l-

awtorità kompetenti tista’, permezz ta’ l-ordni dwar intermedjarji fl-

assigurazzjoni, tistabbilixxi.

(4) Ebda kummerç ta’ assigurazzjoni ma g[andu ji;i aççettat

ta[t xi underwriting agreement kemm-il darba l-underwriting agreement

ma jkunx ;ie debitament re;istrat kif imsemmi qabel.

(5) L-awtorità kompetenti g[andha tiddeçiedi dwar

applikazzjoni g[al re;istrazzjoni ta’ xi underwriting agreement ta[t dan

l-artikolu fi ]mien xahar minn meta tirçievi l-informazzjoni me[tie;a li

ting[ata skond l-ordni dwar intermedjarji fl-assigurazzjoni< u jekk l-

awtorità tirrifjuta li tirre;istra l-agreement hija g[andha tg[arraf lill-

applikant bil-miktub ir-ra;unijiet g[ar- rifjut.

(6) Bla [sara g[ad-disposizzjonijiet ta’ dan l-Att, l-awtorità

kompetenti tista’ tisso;;etta r-re;istrazzjoni ta’ kull underwriting

agreement mag[mul ta[t dan l-artikolu g[al dawk il-kundizzjonijiet li

tista’ minn ]mien g[al ]mien tqis xierqa li timponi.

(7) G[all-g[anijiet ta’ dan l-artikolu “underwriting

agreement”, dwar il-kummerç ta’ l-assigurazzjoni, tfisser ftehim bejn

kumpannija awtorizzata u persuna iskritta ta[t l-artikolu 13 ta’ dan l-Att

li bih il-persuna iskritta tista’, skond il-provvedimenti tieg[u, taççetta riskji

f’isem il-kumpannija awtorizzata< u, f’dan il-kuntest, kull ftehim ie[or,

b’kull isem li jista’ jissejja[ bih, li jkollu g[anijiet u finijiet simili g[al

underwriting agreement, g[andu jitqies g[all-finijiet ta’ dan l-artikolu li

jkun underwriting agreement.

TAQSIMA VIII

RE:ISTRAZZJONI U ISKRIZZJONI TA’ INTERMEDJARJI

MARBUTA FL-ASSIGURAZZJONI

33. (1) Bla [sara g[as-subartikolu (2) ta’ dan l-artikolu, ebda Ir-re;istri ta’persuni

li jmmexu

persuna ma g[andha ta;ixxi b[ala intermedjarju marbut fl-assigurazzjoni attivitajiet ta’

u tmexxi, jew tipprova tmexxi, f’Malta attivitajiet ta’ intermedjarji marbuta intermedjarji

marbuta fl-

fl-assigurazzjoni kemm-il darba dik il-persuna ma tkunx ma[tura, assigurazzjoni.

re;istrata u iskritta skond id-disposizzjonijiet ta’ dan l-Att.

(2) Dan l-artikolu m’g[andux japplika g[all-intermedjarju

marbut fl-assigurazzjoni, li jkun re;istrat skond id-Direttiva 2002#92#KE

tal-Parlament Ewropew u tal-Kunsill tad-9 ta’ Diçembru ta’ l-2002 dwar

il-medjazzjoni ta’ l-assigurazzjoni fl-Istat Membru jew fl-Istat }EE, li

ma jkunx Malta.

34. (1) Bla [sara g[al artikolu 43 ta’ dan l-Att, kull kumpannija Ir-Re;istri ta’

awtorizzata li tkun tixtieq ta[tar persuna biex ta;ixxi f’isimha b[ala Kumpanniji

Intermedjarji

intermedjarju marbut fl-assigurazzjoni g[andha tistabbilixxi u ]]omm Marbuta fl-

Assigurazzjoni.

re;istru ta’ persuni li ja[dmu b[ala intermedjarju marbut fl-assigurazzjoni,

f’dan l-Att imsejja[ “ir-Re;istru ta’ Kumpanniji g[al Intermedjarji

Marbuta fl-Assigurazzjoni”, li jkun fih il-partikolaritajiet li l-awtorità

kompetenti tista’ tistabbilixxi, minn ]mien g[al ]mien, b’regola dwar

intermedjarji fl-assigurazzjoni mag[mula g[all-finijiet ta’ dan l-artikolu,

tal-persuni kollha li g[andhom jedd li jkunu re;istrati fih ta[t dan l-Att.

(2) Bla [sara g[ad-disposizzjonijiet tas-subartikolu (1) ta’

dan l-artikolu, kull kumpannija awtorizzata g[andha tistabbilixxi l-

proçeduri tag[ha stess dwar il-[atra u r-re;istrazzjoni ta’ persuna b[ala

intermedjarju marbut fl-assigurazzjoni fir-Re;istru ta’ Kumpanniji g[al

intermedjarju marbut fl-assigurazzjoni.

35. (1) Persuna jkollha l-jedd li tkun re;istrata minn kumpannija

awtorizzata fir-Re;istru ta’ Kumpanniji g[al Intermedjarji Marbuta fl-

Assigurazzjoni jekk il-kumpannija tkun sodisfatta li dik il-persuna tkun

xierqa u idonea li tmexxi attivitajiet ta’ intermedjarji marbuta fl-

assigurazzjoni .

(2) Persuna ma jkollhiex jedd tmexxi attivitajiet ta’

intermedjarji marbuta fl-assigurazzjoni bis-sa[[a tar-re;istrazzjoni tag[ha

ta[t l-artikolu 37 ta’ dan l-Att sakemm u mhux qabel ma tkun iskritta

mill-awtorità kompetenti fil-Lista ta’ Intermedjarji Marbuta fl-

Assigurazzjoni ta[t dak l-artikolu.

36. (1) L-awtorità kompetenti g[andha tistabbilixxi u ]]omm lista

ta’ persuni li jmexxu attivitajiet ta’ intermedjarji marbuta fl-assigurazzjoni,

f’dan l-Att imsej[a “il-Lista ta’ Intermedjarji Marbuta fl-Assigurazzjoni”,

li jkun fiha il-partikolaritajiet li l-awtorità kompetenti tista’ tistabbilixxi,

minn ]mien g[al ]mien, b’regola dwar intermedjarji fl-assigurazzjoni

mag[mula g[all-finijiet ta’ dan l-artikolu, tal-persuni kollha li g[andhom

il-jedd li jkunu iskritti fiha ta[t dan l-artikolu.

(2) Ikun id-dmir ta’ kumpannija awtorizzata li tag[mel l-

iskrizzjoni ma’ l-awtorità kompetenti fil-Lista ta’ Intermedjarji Marbuta

fl-Assigurazzjoni ta’ kull persuna re;istrata minnha b[ala intermedjarji

marbuta fl-assigurazzjoni fir-Re;istru ta’ Kumpanniji g[al Intermedjarji

Marbuta fl-Assigurazzjoni ta[t l-artikolu 37 ta’ dan l-Att.

(3) Mal-kisba mill-awtorità kompetenti ta’ xi çertifikat ta’

iskrizzjoni ta[t l-artikolu 37 ta’ dan l-Att, kumpannija awtorizzata g[andha

tag[ti lill-persuna li f’isimha jin[are; iç-çertifikat ta’ iskrizzjoni, ç-çertifkat

mog[ti lill-kumpannija mill-awtorità kompetenti jew kopja uffiçjali tieg[u.

(4) Meta persuna iskritta kif hawn qabel insemmi tmexxi

attivitajiet ta’ intermedjarji marbuta fl-assigurazzjoni minn post ta’ negozju

jew minn xi post ie[or, il-persuna g[andha tqieg[ed g[all-wiri f’po]izzjoni

prominenti f’dak il-post, f’parti minnu fejn il-pubbliku jkollu aççess,

iç-çertifikat ta’ iskrizzjoni jew kopja uffiçjali tieg[u ma[ru; mill-

awtorità kompetenti ta[t dan l-artikolu.

37. (1) Bla [sara g[ad-disposizzjonijiet ta’ dan l-Att, kull

{atra, re;istrazzjoni

kumpannija awtorizzata li tkun tixtieq ta[tar persuna biex ta;ixxi f’isimha

b[ala intermedjarju marbut fl-assigurazzjoni g[andha, ta[t dan l-artikolu,

ta[tar u tirre;istra fir-Re;istru ta’ Kumpanniji g[al Intermedjarji Marbuta

fl-Assigurazzjoni tal-kumpannija u tag[mel l-iskrizzjoni ma’ l-awtorità

kompetenti fil-Lista ta’ Intermedjarji Marbuta fl-Assigurazzjoni, ta’

persuna jew persuni biex ja;ixxu f’isimha b[ala intermedjarji marbuta

fl-assigurazzjoni u biex imexxu f’Malta attivitajiet ta’ intermedjarji marbuta

fl-assigurazzjoni f’dik il-klassi jew f’dawk il-klassijiet ta’ kummerç fit-

tul jew f’dik il-klassi jew f’dawk il-klassijiet, jew il-grupp jew gruppi ta’

klassijiet ta’ kummerç ;enerali speçifikati fil-[atriet rispettivi u, meta

persuna ma tkunx individwu, dik il-persuna g[andha jkollha, hi nnifisha,

individwu li jissodisfa l-[ti;iet ta’ subartikolu (1) ta’ artikolu 35>

I]da kumpannija hija projbita milli ta[tar u tirre;istra fir-Re;istru

ta’ Kumpanniji g[al Intermedjarji Marbuta fl-Assigurazzjoni tal-

kumpannija persuna li tkun -

(a) persuna re;istrata fir-Re;istru ta’ l-A;enti, fir-Re;istru

tal-Managers jew fir-Re;istru tal-Brokers ta[t l-artikolu 13 ta’dan

l-Att<

(b) persuna re;istrata fil-Lista ta’ l-A;enti, fil-Lista tal-

Managers jew fil-Lista tal-Brokers ta[t dak l-artikolu<

(ç) kumpannija awtorizzata ta[t l-Att dwar il-Kummerç ta’ l-

Assigurazzjoni biex tmexxi kummerç ta’ l-assigurazzjoni>

I]da wkoll kumpannija hi projbita milli ta[tar xi persuna li

ta;ixxi f’isimha b[ala intermedjarju marbut fl-assigurazzjoni biex

tmexxi attivitajiet ta’ intermedjarju marbut fl-assigurazzjoni li taqa’

f’xi klassi jew grupp ta’ klassijiet ta’ kummerç ta’ l-assigurazzjoni

li l-awtorità kompetenti tista’ minn ]mien g[al ]mien b’regola dwar

l-intermedjarji fl-assigurazzjoni mag[mula g[all-finijiet ta’ dan l-

artikolu tistabbilixxi li hi klassi jew grupp ta’ klassijiet ta’ kummerç

li fihom ebda attività ta’ intermedjarji marbuta fl-assigurazzjoni ma

tista’ titmexxa.

(2) Meta kumpannija awtorizzata ta[tar u tirre;istra fir-

Re;istru ta’ Kumpanniji g[al Intermedjarji Marbuta fl-Assigurazzjoni

tal-kumpannija persuna li ma tkunx individwu, u dik il-persuna tmexxi

attivitajiet ta’ intermedjarji marbuta fl-assigurazzjoni minn post ta’ negozju

wie[ed, jew iktar, dik il-persuna g[andha ti]gura li l-attivitajiet ta’

intermedjarji marbuta fl-assigurazzjoni li hekk jitmexxew minnha minn

kull post b[al dak tan-negozju jitmexxew biss minn individwu li jissodisfa

l-[ti;iet ta’ subartikolu (1) ta’ artikolu 35 ta’ dan l-Att.

(3) Bla [sara g[as-subartikoli (4) u (5) ta’ dan l-artikolu,

persuna, barra minn persuna msemmija fl-ewwel proviso g[as-subartikolu

(1), tista’ tipprova u tikseb ta[t dan l-artikolu [atra u re;istrazzjoni fir-

Re;istru ta’ Kumpanniji g[al Intermedjarji Marbuta fl-Assigurazzjoni

ta’ xi kumpannija awtorizzata, biex tmexxi f’isem dik il-kumpannija

attivitajiet ta’ intermedjarji marbuta fl-assigurazzjoni.

(4) Meta persuna tkun tixtieq tikseb [atra u re;istrazzjoni

fir-Re;istru ta’ Kumpanniji g[al Intermedjarji Marbuta fl-Assigurazzjoni

ta’ iktar minn kumpannija wa[da awtorizzata li tmexxi kummerç fit-tul, u

meta xi klassi ta’ kummerç fit-tul li jitmexxa mill-kumpanniji konçernati

jkun ta’ l-istess xorta, dik il-persuna g[andha, dwar dik il-klassi ta’

kummerç, tipprova u tikseb [atra u re;istrazzjoni biex tmexxi attivitajiet

ta’ intermedjarji marbuta fl-assigurazzjoni dwar dik ix-xorta ta’ kummerç

biss fir-Re;istru ta’ Kumpanniji g[al Intermedjarji Marbuta fl-

Assigurazzjoni ta’ wa[da mill-kumpanniji konçernati.

(5) Meta persuna tkun tixtieq tikseb [atra u re;istrazzjoni

fir-Re;istru ta’ Kumpanniji g[al Intermedjarji Marbuta fl-Assigurazzjoni

ta’ iktar minn kumpannija wa[da awtorizzata li tmexxi kummerç ;enerali,

u meta xi klassi, jew grupp ta’ klassijiet, ta’ kummerç ;enerali li jitmexxa

mill-kumpanniji konçernati jkun ta’ l-istess xorta, dik il-persuna g[andha,

dwar dik il-klassi, jew grupp ta’ klassijiet, ta’ kummerç, tipprova u tikseb

[atra u re;istrazzjoni biex tmexxi attivitajiet ta’ intermedjarju marbut fl-

assigurazzjoni dwar dik il-klassi, jew grupp ta’ klassijiet, ta’ kummerç

biss fir-Re;istru ta’ Kumpanniji g[al Intermedjarji marbuta fl-

Assigurazzjoni ta’ wa[da mill-kumpanniji konçernati.

(6) Ebda persuna li tkun impjegat ta’ kumpannija

awtorizzata ma g[andha, min[abba biss il-fatt li tkun impjegat mal-

kumpannija, te[tie; re;istrazzjoni fir-Re;istru ta’ Kumpanniji g[al

Intermedjarji Marbuta fl-Assigurazzjoni ta[t dan l-artikolu.

(7) (a) Meta l-awtorità kompetenti tilqa’ applikazzjoni

g[all-iskrizzjoni ta[t dan l-artikolu, hija g[andha to[ro; lill-applikant

konçernat çertifikat ta’ iskrizzjoni fl-g[amla u bil-mod li tqis li jkun

xieraq hekk li jkun prova tal-persuna re;istrata fir-Re;istru ta’

Kumpanniji g[al Intermedjarji Marbuta fl-Assigurazzjoni ta’l-applikant

fil-Lista ta’ Intermedjarji Marbuta fl-Assigurazzjoni.

(b) L-awtorità kompetenti f’çirkostanzi stabbiliti skond

regola dwar l-intermedjarji fl-assigurazzjoni mag[mula g[all-finijiet ta’

dan l-artikolu tista’ tiddetermina id-dettalji li g[andhom ji;u nklu]i fiç-

çertifikat ta’ l-iskrizzjoni.

(8) Bla [sara g[ad-disposizzjonijiet ta’ dan l-Att, l-awtorità

kompetenti tista’ tisso;;etta l-iskrizzjoni li tkun saret ta[t dan l-artikolu

g[al dawk il-kundizzjonijiet li tista’ minn ]mien g[al ]mien tqis li jkunu

xierqa li timponi.

(9) Kumpannija awtorizzata tkun f’kull ]mien responsabbli

g[al kull g[emil jew nuqqas ta’ g[emil ta’l-intermedjarji marbuta fl-

assigurazzjoni re;istrati tag[ha kemm-il darba dak l-eg[mil jew nuqqas

ikun eg[mil jew nuqqas li g[andu x’jaqsam ma’ kuntratt ta’ assigurazzjoni

ma[ru; mill-kumpannija jew offrut f’isimha permezz tas-servizzi ta’ dawk

l-intermedjarji marbuta fl-assigurazzjoni. G[all-finijiet ta’ dan is-

subartikolu, kull referenza g[al intermedjarji marbuta fl-assigurazzjoni

re;istrati g[andha tinkludi referenza g[al intermedjarji fl-assigurazzjoni

re;istrati kemm passati kif ukoll pre]enti.

38. (1) Bla [sara g[as-subartikolu (3) ta’ dan l-artikolu, kull }amma ta’ kontijiet

separati.

intermedjarju marbut fl-assigurazzjoni li jkollu flejjes mi]mumin g[andu,

g[andu, fir-rigward ta’ pol]a ta’ l-assigurazzjoni j]omm il-flejjes kollha

li jkunu g[andu f’kapaçità fiduçjarja separati mill-flejjes tieg[u stess u

g[andu, dwar dawk il-flejjes, i]omm kontijiet separati skond [ti;iet

stabbiliti b’regola dwar intermedjarji fl-assigurazzjoni mag[mula g[all-

finijiet ta’ dan l-artikolu.

(2) Ebda persuna m’g[andu jkollha jew tikseb xi rimedju

jew dritt dwar flejjes li jkunu bi kreditu tal-kont imsemmi fis- subartikolu

(1) dwar xi talba jew dritt kontra persuna li qeg[da ta;ixxi b[ala

intermedjarju marbut fl-assigurazzjoni marbuta ma’ attivitajiet ta’

intermedjarji fl-assigurazzjoni sakemm kull talba proprja g[al dawk il-

flejjes tkun ;iet sodisfatta, anki fil-ka] ta’ falliment ta’ l-individwu jew

stralç tal-kumpannija, skond il-ka].

(3) Bla [sara g[ad-disposizzjonijiet ta’ subartikoli (1) u (2)

ta’ dan l-artikolu>

(a) flejjes riçevuti minn intermedjarju marbut fl-

assigurazzjoni ming[and persuna dwar kuntratt ta’ assigurazzjoni

g[andhom ji;u meqjusa li t[allsu lill-kumpannija li to[ro; jew

toffri l-kuntratt, u li f’isem tag[ha intermedjarju marbut fl-

assigurazzjoni imexxi attivitajiet ta’ intermedjarji marbuta fl-

assigurazzjoni< u

(b) flejjes li t[allsu minn kumpannija awtorizzata lill-

intermedjarju marbut fl-assigurazzjoni, u ma[suba g[ad-detentur

ta’ polza, m’g[andhomx jitqiesu li t[allsu lil-detentur ta’ polza

sakemm dwak il-flejjes ikunu fil-fatt ;ew riçevuti mid- detentur

ta’ polza ikkonçernat.

39. Bla [sara g[ad-disposizzjonijiet ta’ l-artikolu 40 u g[all-pattijiet T[assir ta’ ismijiet

mir-Re;istri ta’

u kundizzjonijiet ta’ [atra ta’ intermedjarju marbut fl-assigurazzjoni Kumpanniji g[al

relevanti f’kull ]mien u g[al kull raguni tkun li tkun -

Intermedjarji

Marbuta fl-

Assigurazzjoni.

(a) kumpannija awtorizzata tista’ t[assar mir-Re;istru ta’

Kumpanniji g[al Intermedjarji Marbuta fl-Assigurazzjoni tal-

kumpannija l-isem ta’ persuna li tkun re;istrata fir-re;istru hawn

qabel imsemmi<

(b) persuna re;istrata fir-Re;istru ta’ Kumpannija g[al

Intermedjarji Marbuta fl-Assigurazzjoni ta’ kumpannija awtorizzata

tista’ tapplika bil-miktub lill-kumpannija konçernata u titlob lill-

kumpannija li t[assarlu ismu mir-re;istru hawn qabel imsemmi.

40. (1) Meta kumpannija awtorizzata tag[]el li t[assar l-isem

ta’ persuna mir-Re;istru ta’ Kumpanniji g[al Intermedjarji Marbuta fl-

Assigurazzjoni tal-kumpannija, il-kumpannija g[andha minnufih tav]a

bil-miktub lill-persuna konçernata u lill-awtorità kompetenti fejn tispeçifika

d-data li fiha tag[]el li t[assar l-isem ta’ dik il-persuna mir-re;istru.

(2) Meta kumpannija awtorizzata t[assar l-isem ta’ persuna

mir-Re;istru ta’ Kumpanniji g[al Intermedjarji Marbuta fl-Assigurazzjoni

tal-kumpannija min[abba li l-persuna ma tkunx xierqa jew idonea jew

min[abba li l-persuna tkun a;ixxiet b’mod frawdolenti, jew b’di]onestà,

jew b’dak il-mod li tintilef fiha l-fiduçja, il-kumpannija g[andha tav]a

bil-miktub lill-awtorità kompetenti bir-ra;unijiet g[aliex g[amlet dan.

(3) Malli tirçievi avvi] ming[and kumpannija awtorizzata

li dik il-kumpannija tkun g[a]let li t[assar l-isem ta’ persuna mir-

Re;istru ta’ Kumpanniji g[al Intermedjarji Marbuta fl-Assigurazzjoni

tal-kumpannija, l-awtorità kompetenti g[andha -

(a) jekk it-t[assir ta’ dak l-isem mir-re;istru jkun min[abba

ra;unijiet li ma jkunux dawk speçifikati fis-subartikolu (2) ta’ dan

l-artikolu, kemm jista’ jkun malajr, tikkonferma bil-miktub lill-

kumpannija konçernata li isem dik il-persuna, safejn jirreferi g[al

dik il-kumpannija, g[andu jit[assar mil-Lista ta’ Intermedjarji

Marbuta fl-Assigurazzjoni mid-data speçifikata fl-avvi] tal-

kumpannija<

(b) jekk it-t[assir ta’ dak l-isem mir-re;istru jkun min[abba

ra;unijiet speçifikati fis-subartikolu (2) ta’ dan l-artikolu, qabel ma

t[assar isem dik il-persuna mil-Lista ta’ Intermedjarji Marbuta fl-

Assigurazzjoni, minnufih, tag[ti lill-persuna konçernata avvi] bil-

miktub li jkun jag[ti r-ra;unijiet g[al dak l-g[emil, u d-

disposizzjonijiet ta’ subartikoli (2) u (3) ta’ l-artikolu 17 ta’ dan l-

Att g[andhom ikunu mutatis mutandis japplikaw g[all-avvi] mog[ti

ta[t dan l-artikolu.

(4) Bla [sara g[al kull azzjoni li l-awtorità kompetenti

jidhrilha xieraq tie[u ta[t dan l-Att jew ta[t xi li;i o[ra, meta l-awtorità

kompetenti t[assar l-isem ta’ persuna mil-Lista ta’ Intermedjarji Marbuta

fl-Assigurazzjoni g[al ra;unijiet speçifikati fis-subartikolu (2) ta’ dan l-

Att, l-awtorità kompetenti tista’ tag[ti pubbliçità g[at-t[assir ta’ dak l-

isem mil-Lista ta’ Intermedjarji Marbuta fl-Assigurazzjoni, u -

(a) jekk isem dik il-persuna ikun re;istrat fir-Re;istru ta’

Kumpanniji g[al Intermedjarji Marbuta fl-Assigurazzjoni ta’ xi

kumpannija o[ra, l-awtorità kompetenti g[andha wkoll minnufih

tav]a bil-miktub lil dik il-kumpannija l-o[ra u tordnalha li t[assar l-

isem ta’ dik il-persuna mir-Re;istru ta’ Kumpannija g[al

Intermedjarji Marbuta fl-Assigurazzjoni ta’ dik il-kumpannija

minnufih u tag[ti lill-kumpannija r-ra;unijiet g[al dik l-ordni<

(b) jekk l-awtorità kompetenti tag[]el li tag[ti pubbliçità g[at-

t[assir ta’ dak l-isem mil-Lista ta’ Intermedjarji Marbuta fl-

Assigurazzjoni, l-awtorità kompetenti g[andha tippubblika avvi] li

jag[ti pubbliçità g[al dak it-t[assir b’mod li jidhirlha xieraq.

(5) L-awtorità kompetenti jkollha s-setg[a tordna li 1-ispejje]

kollha li jsiru bil-pubblikazzjoni ta’ avvi] skond ma hemm f’dan l-artikolu,

jew ta’ parti minnhom hekk kif tista’ tqis li jkun xieraq, g[andhom jit[allsu

mill-persuna konçernata< u kull ammont hekk dovut g[andu jin;abar mill-

awtorità kompetenti bl-istess mod b[alma tin;abar penali

amministrattiva li ti;i imposta ta[t dan l-Att.

(6) Meta kumpannija awtorizzata tirçievi applikazzjoni bil-

miktub ming[and persuna re;istrata fir-Re;istru ta’ Kumpannija g[al

Intermedjarji Marbuta fl-Assigurazzjoni tal-kumpannija li tkun qieg[da

te[tie; lill-kumpannija li t[assar isem dik il-persuna mir-Re;istru ta’

Kumpanniji g[al Intermedjarji Marbuta fl-Assigurazzjoni tal-kumpannija,

il-kumpannija g[andha ming[ajr ebda dewmien t[assar isem dik il-

persuna mir-Re;istru ta’ Kumpanniji g[al Intermedjarji Marbuta fl-

Assigurazzjoni tal-kumpannija filwaqt li tav]a bil-miktub lill-persuna

konçernata u lill-awtorità kompetenti billi wkoll tispeçifika d-data meta

tag[]el li t[assar isem dik il-persuna mir-re;istru.

(7) Meta, wara li ssir applikazzjoni lil kumpannija awtorizzata

ta[t is-subartikolu (6) ta’ dan l-artikolu, il-kumpannija tirrifjuta, jew

indebitament i;;ebbed il-proçess, li t[assar isem il-persuna mir-Re;istru

ta’ Kumpanniji g[al Intermedjarji Marbuta fl-Assigurazzjoni tal-

kumpannija, il-persuna konçernata tista’ tirreferi l-kwistjoni lill-awtorità

kompetenti u l-awtorità kompetenti g[andha to[ro; bil-miktub lill-

kumpannija konçernata dawk id-direttivi li tqis xierqa biex i;;ieg[el lill-

kumpannija li tg[a;;el il-proçess ta’ t[assir ta’ l-isem ta’ dik il-persuna

mir-Re;istru ta’ Kumpanniji g[al Intermedjarji Marbuta fl-

Assigurazzjoni tal-kumpannija.

(8) Malli jing[ata avvi] mill-awtorità kompetenti lil

kumpannija awtorizzata li isem persuna re;istrata fir-Re;istru ta’

Kumpanniji g[al Intermedjarji Marbuta fl-assigurazzjoni tal-kumpannija

jkun t[assar mil-Lista ta’ Intermedjarji Marbuta fl-Assigurazzjoni, il-

kumpannija konçernata g[andha minnufih tag[ti lura lill-awtorità

kompetenti ç-çertifikat ta’ iskrizzjoni dwar dik il-persuna, u kull kopja

uffiçjali li jkollha ta’ dak iç-çertifikat.

41. (1) Minkejja kull disposizzjoni ta’ dan l-Att, l-awtorità

kompetenti tista’, f’kull ]mien, min[abba f’nuqqas ta’ idoneità jew

improprjetà jew tat-t[aris ta’ l-interess pubbliku -

(a) tirrifjuta l-iskrizzjoni ta’ persuna fuq il-Lista ta’

Intermedjarji Marbuta fl-Assigurazzjoni<

(b) t[assar l-isem ta’ persuna mil-Lista ta’ Intermedjarji

Marbuta fl-Assigurazzjoni>

I]da f’kull ka], l-awtorità kompetenti g[andha tav]a lill-

kumpannija konçernata bil-miktub bir-ra;unijiet g[aliex g[amlet

hekk.

(2) F’kull ka] l-awtorità kompetenti tista’ tie[u kull mi]ura

o[ra li jidhirlha me[tie;a biex t[ares l-interessi ta’ l-assigurati, detenturi

ta’ polza, kredituri jew persuni interessati o[ra.

42. Meta skond l-artikolu 40 ta’ dan l-Att l-isem ta’ persuna jkun

t[assar mil-Lista ta’ l-Intermedjarji Marbuta fl-Assigurazzjoni -

(a) g[al ra;unijiet li jinsabu fis-subartikolu (2) ta’ dak l-

artikolu, l-isem ta’ dik il-persuna g[andu, meta ssir applikazzjoni

minn kumpannija awtorizzata, jer;a’ jkun iskritt fil-Lista ta‘ l-

Intermedjarji Marbuta fl-Assigurazzjoni fuq ordni tat-Tribunal jew

il-liberazzjoni minn akku]i ta’ reat ta[t dak is-subartikolu minn xi

qorti<

(b) g[al ra;unijiet li ma jkunux dawk li jinsabu fis-subartikolu

(2) ta’ dak l-artikolu, l-isem ta’ dik il-persuna jista’, ma’ l-

applikazzjoni minn kumpannija awtorizzata, jer;a’ ikun iskritt fil-

Lista ta’ l-Intermedjarji Marbuta fl-Assigurazzjoni.

43. (1) Bla [sara g[as-subartikolu (2) ta’ dan l-artikolu, g[all- Applikazzjoni

Taqsima VIII ta’l-

fini ta’ din il-Parti ta’ dan l-Att ‘kumpannija awtorizzata” ma tinkludiex Att u l-impri]i ta’ l-

assigurazzjoni

impri]i ta’ l-assigurazzjoni Ewropej.

Ewropej.

(2) Fil-ka] ta’ impri]a ta’ l-assigurazzjoni Ewropea li tkun

qeg[da tfittex biex ta[tar persuna residenti Malta jew li g[andha l-uffiççju

re;istrat jew, f’ka] ta’ persuna ;uridika hija re;istrata, jew l-uffiççju

prinçipali tag[ha jkun, f’Malta, sabiex tmexxi attivitajiet ta’ intermedjarji

marbuta fl-assigurazzjoni, dik l-impri]a g[andha tag[mel l-iskrizzjoni

ta’ dik il-persuna ma’ l-awtorità kompetenti, kif jista’ jkun imsemmi

f’regola dwar l-intermedjarji fl-assigurazzjoni mag[mula g[all-finijiet ta’

dan l-artikolu u l-imsemmija regola g[andu jkun fiha l-partikolaritajiet,

kundizzjonijiet u [ti;iet ta’ l-iskrizzjoni.

TAQSIMA IX

DISPOSIZZJONIJIET :ENERALI

44. (1) Kull persuna re;istrata jew iskritta g[andha tav]a bil- Tibdil fid-

dokumentazzjoni.

miktub lill-awtorità kompetenti b’kull tibdil materjali fid-dokumentazzjoni

provduta jew me[tie;a li tkun provduta b’dan l-Att jew ta[tu jew b’xi

regolamenti mag[mula bis-sa[[a tieg[u jew b’xi regola dwar intermedjarji

fl-assigurazzjoni, malli ssir taf b’dak it-tibdil.

(2) Bla [sara g[all-artikolu 54 ta’ dan l-Att, safejn jirreferi

g[all-artikolu 38 ta’ l-Att dwar il-Kummerç ta’ l-Assigurazzjoni, kull

persuna iskritta li tkun kumpannija lokali g[andha -

(a) qabel ma tag[mel xi ]ieda jew tibdil fil-memorandum

jew fl-artikoli ta’ assoçjazzjoni jew f’xi strument ie[or li

jikkostitwixxi l-kumpannija, tissottometti bil-miktub lill-awtorità

kompetenti dettalji ta]-]ieda jew tibdil propost g[all-kunsens

tag[ha minn qabel< u ebda ]ieda jew tibdil b[al dawk ma g[andhom

jsiru jew ikunu re;istrati jew jibdew jse[[u, sew jekk ikun re;istrata

sew jekk ma tkunx, kemm-il darba u sakemm l-awtorità kompetenti

ma tkunx uriet il-kunsens tag[ha bil-miktub< u

(b) tg[arraf lill-awtorità kompetenti bl-ismijiet tal-persuni li

jkollhom holding kwalifikattiv ta’ azzjonijiet fil-kumpannija u l-

perçentwali ta’ dak il-holding< u l-awtorità kompetenti tista’, b’regola

dwar l-intermedjarji fl-assigurazzjoni mag[mula g[all-fini ta’ dan l-

artikolu, tistabbilixxi xi forma, l-mod u kontenut ta’ l-informazzjoni

li g[andha tintg[atalha u d-data sa meta g[andha tinbag[at dik l-

informazzjoni g[andha ukoll ti;i stabbilita f’dik ir-regola.

(3) Bla [sara g[ad-disposizzjonijiet ta’ qabel ta’ dan l-

artikolu, kull persuna iskritta ta[t Taqsima III ta’ dan l-Att g[andha

tav]a lill-awtorità kompetenti fuq ba]i kontinwa, b’kull tibdil jew

çirkostanza li tista’ to[loq l-e]istenza ta’ rabtiet mill-qrib skond kif

imfisser fl-artikolu 10 ta’ dan l-Att.

45. (1) L-awtorità kompetenti tista’ te]erçita s-setg[at li ;ejjin

fuq it-talba ta’ awtorità regolatorja barranija jew sabiex tassistiha -

(a) is-setg[a li timponi, tirrevoka jew tvarja kondizzjonijiet

ma’ l-g[oti ta’ iskrizzjoni skond id-disposizzjonijiet ta’ subartikolu

(4) ta’ l-artikolu 13 ta’ dan l-Att<

(b) is-setg[a li tissospendi jew t[assar l-isem ta’ persuna

iskritta mir-Re;istru ta’ l-A;enti, mir-Re;istru tal-Managers jew

mir-Re;istru tal-Brokers jew ta’ persuna iskritta mil-Lista ta’ l-

A;enti, mil-Lista tal-Managers jew mil-Lista tal-Brokers ta[t l-

artikolu 16 ta’ dan l-Att<

(ç) is-setg[a li t[assar l-isem ta’ intermedjajru marbut fl-

assigurazzjoni mill-Lista ta’ l-Intermedjajri Marbuta fl-

Assigurazzjoni iskritta ta[t l-artikolu 41 ta’ dan l-Att<

(d) is-setg[a li tie[u kull azzjoni ta[t l-artikoli 29, 30 u 31

jew 31A ta’ l-Att dwar il-Kummerç ta’ l-Assigurazzjoni, kif

applikabbli skond l-artikolu 54 ta’ dan l-Att<

(e) is-setg[a li tikkomunika ma’ awtorità regolatorja

barranija informazzjoni li tkun fil-pussess tag[ha, sew jekk dik l-

informazzjoni tkun ri]ultat ta’ xi wa[da mis-setg[at ta’ hawn fuq

jew xort’o[ra.

(2) L-awtorità kompetenti g[andha te]erçita l-poteri bis-sa[[a

ta’ dan l-artikolu>

(a) meta tintalab l-assistenza mill-awtorità regolatorja

barranija g[all-finijiet ta’ l-e]erçizzju ta’ xi wa[da jew aktar mill-

funzjonijiet regolatorji tag[ha< jew

(b) meta jkun hekk me[tie; fil-parametri ta’ rabtiet

internazzjonali ta’ Malta< jew

(ç) meta jkun hekk me[tie; skond it-termini ta’ l-

obbligazzjonijiet assunti fi trattati bilaterali jew multilaterali g[all-

bdil ta’ informazzjoni u forom o[ra ta’ kollaborazzjoni ma’

awtoritajiet regolatorji barranin inklu]a talba ta[t memorandum

of understanding konklu] ma’ l-awtorità kompetenti.

(3) G[andu jkun hemm laqg[at bejn kumpannija

awtorizzata, l-intermedjarju fl-assigurazzjoni, l-uditur approvat tag[ha

u l-awtorità kompetenti, fuq ba]i bilaterali jew multilaterali kif je[tie;u

ç-çirkostanzi. Dawk il-laqg[at jistg[u jissej[u minn kull wa[da mill-

partijiet, u g[andhom f’kull ka] ikunu preseduti mill-awtorità

kompetenti.

46. (1) Ebda [a;a f’dan l-Att ma tawtorizza lill-awtorità Konfidenzjalità.

kompetenti biex tinvestiga jew i;;ieg[el li ssir investigazzjoni fuq persuna

iskritta fl-affarijiet ta’ klijent individwali ta’ persuna iskritta [lief sabiex

ji;i ]gurat li jkun hemm t[aris tad-disposizzjonijiet ta’ dan l-Att jew ta’ xi

Att ie[or.

(2) Bla [sara g[ad-disposizzjonijiet tas-subartikolu (3) ta’

dan l-artikolu, informazzjoni minn xi persuna g[all-finijiet ta’, jew

konformement ma’, xi disposizzjonijiet ta’ dan l-Att, jew ta’ xi regolamenti

mag[mulin ta[tu, jew ta’ xi regola dwar l-intermedjarji fl-assigurazzjoni,

jew fit-twettiq ta’ xi funzjonijiet ta[t xi wa[da mid-disposizzjonijiet

imsemmija, jew minn xi awtorità regolatorja barranija, g[andha ti;i ttrattata

b[ala kunfidenzjali u protetta mid-dmir ta’ segretezza professjonali, u

m’g[andhiex ti;i ]velata lil xi persuna o[ra, li ma tkunx persuna li tkun

tista’ tikseb dik l-informazzjoni skond il-li;i g[all-finijiet ta’, jew

konformement ma’, id-disposizzjonijiet ta’ dan l-Att, jew ta’ xi regolamenti

mag[mulin ta[tu jew ta’ regola dwar l-intermedjarji fl-assigurazzjoni [lief

bil-kunsens tal-persuna li ming[andha tinkiseb l-informazzjoni, sakemm

dik l-informazzjoni tkun unikament tirrigwarda lil dik il-persuna.

(3) Id-disposizzjonijiet tas-subartikolu (2) ta’ dan l-artikolu

ma g[andhomx jipprekludu l-i]velar ta’ informazzjoni -

(a) bil-g[an li jinbdew, jew xort’o[ra g[all-finijiet ta’,

proçedimenti kriminali jew ta’ xi proçedimenti mill-awtorità

kompetenti quddiem xi qorti ta[t dan l-Att<

(b) bil-g[an li l-awtorità kompetenti tkun tista’ jew tigi

assistita fil-qadi jew fit-twettiq ta’ xi funzjonijiet tag[ha ta[t dan

l-Att<

(ç) li tkun saret disponibbli lill-pubbliku ghax tkun ;iet ]velata

f xi çirkostanzi li fihom, jew ghal xi fini li dwaru, l-i]velar ma jkunx

preklu] b’dan l-artikolu<

(d) f’sommarju jew ;abra ta’ informazzjoni kompilata b’dak

il-mod li ma tkunx tista’ ti;i aççertata l-identità ta’ xi persuna li l-

informazzjoni tkun tirrigwardaha<

(e) lil xi uditur meta l-awtorità kompetenti tkun tqis li dak

l-i]velar ikun jg[in lill-awditur fl-e]erçizzju tal-funzjonijiet tieg[u

ta[t l-artikolu 28 ta’ dan l-Att<

(f) lill-Bank ?entrali ta’ Malta jew lil-Listing Authority ta[t

l-Att dwar is-Swieq Finanzjarji, meta dik l-informazzjoni tkun

me[tie;a mill-Bank jew mil-Listing Authority fl-e]erçizzju tal-

funzjonijiet rispettivi tag[hom skond il-li;i<

(g) b’risposta ghal xi talba ming[and jew ghall-fini ta’

assistenza li ting[ata lil awtorità regolatorja barranija konformement

ma’ l-artikolu 45 ta’ dan l-Att<

(h) lil dawk l-awtoritajiet o[ra regolatorji, ;udizzjarji jew ta’

infurzar, kemm lokali kemm barranin, meta dak l-i]velar ikun me[tie;

jew jintalab g[all-prosegwiment ta’ kwistjonijiet regolatorji serji jew

qerq, prevenzjoni jew prosekuzzjoni ta’ reati kriminali<

(i) fi proçedimenti çivili jew kummerçjali fir-rigward tal-

falliment, xoljiment jew stralç obbligat ta’ intermedjarju fl-

assigurazzjoni sakemm dik l-informazzjoni ma tkunx tirrigwarda

terzi involuti f’tentattivi li jilliberaw lil dak l-intermedjarju fl-

assigurazzjoni, u lil dawk il-korpi barranin responsabbli g[al

likwidazzjoni u l-falliment ta’ xi persuna li tkun re;istrata jew li

jkollha awtorizzazzjoni jew liçenza ekwivalenti minn xi awtorità

regolatorja barranija jew proçeduri simili o[ra.

(4) Ebda persuna, inklu]i uffiçjali jew a;enti ta’ l-img[oddi

jew tal-pre]ent ta’ persuna iskritta, ma g[andha tikxef xi informazzjoni

dwar l-affarijiet ta’ persuna iskritta jew ta’ klijent ta’ persuna iskritta li

hija tkun kisbet fil-qadi tad-dmirijiet tag[ha jew fl-e]erçizzju tal-funzjonijiet

tag[ha skond dan l-Att [lief -

(a) meta tkun awtorizzata biex tag[mel hekk skond xi wa[da

mid-disposizzjonijiet ta’ dan l-Att<

(b) g[all-qadi tad-dmirijiet tag[ha jew g[all-e]erçizzju tal-

funzjonijiet tag[ha<

(ç) meta tkun me[tie;a biex tag[mel hekk minn xi qorti jew

skond xi disposizzjoni ta’ xi li;i.

(5) F’dan l-artikolu, il-fra]i “a;enti”, dwar persuna iskritta,

tfisser u tinkludi l-bankiera u l-uditur tal-persuna iskritta.

(6) Meta uffiçjal jew impjegat ta’ kumpannija iskritta, jew

persuna re;istrata jew iskritta, jew uffiçjal jew impjegat ta’ dik il-

persuna, ikollha g[alfejn ta[seb li xi attività jew attività proposta tista’

tinvolvi money laundering, din tkun obbligata timxi skond ir-

regolamenti ma[ru;a ta[t l-Att kontra Money Laundering u skond linji

ta’ gwida mag[mula mill-awtorità kompetenti. It-t[aris tad-

disposizzjonijiet ta’ dan is-subartikolu ma jikkostitwix ksur ta’

konfidenzjalità.

47. (1) Ir-Re;istru ta’ l-A;enti, ir-Re;istru tal-Managers jew Aççess g[ar-re;istri

u listi mill-pubbliku.

ir-Re;istru tal-Brokers u il-Lista ta’ l-A;enti, il-Lista tal-Managers jew

il-Lista tal-Brokers u il-Lista ta’ l-Intermedjarji Marbuta fl-Assigurazzjoni

g[andhom ikunu aççessibli g[al-pubbliku, ming[ajr [las, fl-uffiççju ta’

l-awtorità kompetenti fil-[inijiet kollha matul il-[inijiet normali tax-xog[ol

ta’ l-awtorità kompetenti.

(2) Kull persuna tista’, mal-[las ta’ dak id-dritt li jista’ ji;i

ordnat, tikseb ming[and l-awtorità kompetenti estratti mir-Re;istru ta’ l-

A;enti, mir-Re;istru tal-Managers jew mir-Re;istru tal-Brokers jew ta’

persuna iskritta mil-Lista ta’ l-A;enti, mil-Lista tal-Managers jew mil-

Lista tal-Brokers u mil-Lista ta’ l-Intermedjarji Marbuta fl-Assigurazzjoni

kopji uffiçjali ta’ çertifikati ta’ re;istrazzjoni jew iskrizzjoni.

(3) Ir-Re;istru ta’ Kumpanniji g[al Intermedjarji Marbuta

fl-Assigurazzjoni ta’ kull kumpannija awtorizzata ta[t l-Att dwar il-

Kummerç ta’ l-Assigurazzjoni g[andu jkun miftu[ biex jispezzjonah il-

pubbliku, ming[ajr [las, fl-uffiççju prinçipali tal-kumpannija awtorizzata

konçernata matul il-[inijiet normali tax-xog[ol tal-kumpannija.

48. (1) Bla [sara g[ad-disposizzjonijiet li ;ejjin ta’ dan l- U]u tal-kelma

“assigurazzjoni”.

artikolu, [lief bil-permess bil-miktub ta’ l-awtorità kompetenti, ebda

persuna barra minn -

(a) persuna re;istrata fir-Re;istru ta’ l-A;enti, fir-Re;istru

tal-Managers jew fir-Re;istru tal-Brokers ta[t l-artikolu 13< jew

(b) persuna iskritta fil-Lista ta’ l-A;enti, fil-Lista tal-

Managers jew fil-Lista tal-Brokers ta[t dak l-artikolu< jew

(ç) persuna iskritta fil-Lista ta’ l-Intermedjarji Marbuta fl-

Assigurazzjoni ta[t l-artikolu 36< jew

(d) kumpannija awtorizzata ta[t l-Att dwar il-Kummerç ta’

l-Assigurazzjoni< jew

(e) persuna li jkollha kwalifiki ta’ assigurazzjoni minn istitut

ta’ reputazzjoni mag[ruf g[al dak l-g[an mill-awtorità kompetenti<

jew

(f) istitut ta’ reputazzjoni illi jipprovdi tag[lim fl-istudji dwar

il-kummerç ta’ l-assigurazzjoni u hu mag[ruf g[al dan il-g[an mill-

awtorità kompetenti< jew

(g) persuna ordnata b’regolamenti mag[mula ta[t dan l-Att,

ma g[andha tu]a l-kelma “assigurazzjoni” b[ala parti minn isimha jew

b[ala d-deskrizzjoni jew titolu tag[ha jew tag[mel xi u]u b[al dak fuq

xi ittra, karta, f’xi avvi] jew reklam, jew b’xi mod ie[or ikun li jkun.

(2) Kull kumpannija barranija iskritta jew awtorizzata kif

hawn qabel imsemmi tista’ tu]a l-isem u]at fil-pajji] fejn tkun re;istrata,

inkorporata jew kostitwita [lief li, fejn ikun hemm riskju li l-u]u ta’ dak

l-isem jista’ jqarraq, dik il-kumpannija g[andha ]]id ma’ isimha dawk il-

partikolaritajiet spjegattivi li tordna l-awtorità kompetenti.

(3) L-awtorità kompetenti tista’, b’regola dwar intermedjarji

fl-assigurazzjoni mag[mula g[all-fini ta’ dan l-artikolu, tistabbilixxi l-

kwalifiki u l-esperjenza biex tmexxi l-attivitajiet ta’ intermedjarji fl-

assigurazzjoni, barra mill-persuni msemmija fis-subartikoli ta’ qabel ta’

dan l-artikolu, je[tie; li jkollhom biex, b’applikazzjoni lill-awtorità

kompetenti, jkunu jistg[u jing[ataw permess ta[t dan l-artikolu sabiex

ju]aw il-kelma “assigurazzjoni” b[ala parti minn isimhom jew b[ala d-

deskrizzjoni jew titolu tag[hom.

(4) G[all-finijiet ta’ dan l-artikolu, l-espressjoni

“assigurazzjoni” tinkludi rijassigurazzjoni, assurance u reassurance u

kull derivattivi tag[hom jew kliem ie[or li jistg[u juru jew jimplikaw li

juru t-tmexxija ta’ kummerç ta’ assigurazzjoni jew it- tmexxija ta’ attivitajiet

intermedjarji fl-assigurazzjoni jew it- tmexxija ta’ dak il-kummerç jew it-

tmexxija ta’ dawk l-attivitajiet b’xi lingwa fid-deskrizzjoni jew fit-titolu

li ta[tu persuna tkun qed tmexxi dak il-kummerç jew tmexxi dawk l-

attivitajiet.

49. Avvi] jew dokument ie[or li g[andu jing[ata jew ikun

notifikat ta[t dan l-Att jew xi regolamenti mag[mula bis-sa[[a tieg[u

g[andu jitqies li ng[ata jew gie notifikat b’mod xieraq lil persuna

jekk -

(a)

ikun konsenjat lilha< jew

(b) ikun t[alla fl-indirizz mog[ti minnha lill-awtorità

kompetenti, jew fl-indirizz l-a[[ar mag[ruf tag[ha< jew

(ç) ikun intbag[tilha bil-posta jew bil-fax f’xi wie[ed mill-

indirizzi hawn qabel imsemmija< jew

(d) fil-ka] ta’ soçjetà kummerçjali re;istrata f’Malta, ikun

konsenjat, intbag[at bil-posta jew bit-telefax, jew t[alla fl-uffiççju

re;istrat, jew fl-uffiççju re;istrat l-a[[ar mag[ruf, ta’ dik is-soçjetà

kummerçjali< jew

(e) fil-ka] ta’ xi korp ie[or ta’ persuni, sew jekk korporat

sew mhux korporat, ikun ing[ata jew ;ie notifikat b’xi mod hawn

qabel imsemmi lil direttur, uffiçjal, skrivan jew lir-rappre]entant

ta’ dak il-korp.

50. (1) (a) G[all-fini ta’ kull appell mag[mul lit-Tribunal ta[t Appelli.

dan l-Att, g[andhom japplikaw id-disposizzjonijiet tal-proviso g[as-

subartikolu (1) ta’ l-artikolu 57 ta’ l-Att dwar il-Kummerç ta’ l-

Assigurazzjoni.

(b) G[all-finijiet ta’ kull appell b[al dak, id-

disposizzjonijiet ta’ l-artikolu 21 ta’ l-Att dwar l-Awtorità g[as-Servizzi

Finanzjarji ta’ Malta g[andhom japplikaw ukoll.

(2) Bla [sara g[ad-disposizzjonijiet ta’ dan l-artikolu, kull

persuna jew kumpannija li, t[ossha aggravata b’deçi]joni ta’ l-awtorità

kompetenti -

(a) li tirrifjuta li tirre;istra jew tiskrivi applikant ta[t l-

artikolu 13 jew 41<

(b) li timponi xi kundizzjoni fuq, jew sussegwenti g[al,

re;istrazzjoni u iskrizzjoni ta[t l-artikolu 13 jew 37 ta’ dan l-Att<

(ç) li t[assar l-isem ta’ persuna mir-Re;istru ta’ l-A;enti,

mir-Re;istru tal-Managers jew mir-Re;istru tal-Brokers jew ta’

persuna iskritta mil-Lista ta’ l-A;enti, mil-Lista tal-Managers jew

mil-Lista tal-Brokers ta[t l-artikolu 16 ta’ dan l-Att<

(d) li tirrifjuta li tirrestitwixxi l-isem ta’ persuna fir-Re;istru

ta’ l-A;enti, fir-Re;istru tal-Managers jew fir-Re;istru tal-Brokers

jew ta’ persuna iskritta fil-Lista ta’ l-A;enti, fil-Lista tal-Managers

jew fil-Lista tal-Broker ta[t subartikolu (2) ta’ l-artikolu 18 ta’

dan l-Att<

(e) li tirrifjuta li tirre;istra xi underwriting agreement ta[t

l-artikolu 32 ta’ dan l-Att<

(f) li t[assar l-isem ta’ persuna mil-Lista ta’ l-Intermedjarji

Marbuta fl-Assigurazzjoni skond paragrafu (b) ta’ subartikolu (3)

ta’ l-artikolu 40 ta’ dan l-Att<

(g) li te[tie; kumpannija awtorizzata ta[t l-Att dwar il-

Kummerç ta’ l-Assigurazzjoni li t[assar l-isem ta’ persuna mir-

Re;istru tal-Kumpanniji g[all-Intermedjarji Marbuta fl-

Assigurazzjoni ta’ xi kumpannija ta[t l-artikolu 41 ta’ dan l-Att<

(h) li timponi penali amministrattiva dwar infrazzjonijiet

kif jista’ ji;i ordnat ta[t l-artikolu 3 ta’ dan l-Att,

tista’ tappella kontra d-deçi]joni lit-Tribunal li jkollu l-kompetenza

esklu]iva li jisma’ appelli fuq il-[wejje; imni]]lin f’dan is-subartikolu.

(3) Appell ta[t dan l-artikolu jista’ jsir biss fuq il-ba]i ta’ xi

wa[da minn dawn li ;ejjin>-

(a) l-awtorità kompetenti tkun applikat [a]in xi wa[da mid-

disposizzjonijiet ta’ dan l-Att< jew

(b) id-deçi]joni ta’ l-awtorità kompetenti tikkostitwixxi

abbu] ta’ diskrezzjoni jew li tkun manifestament in;usta, i]da d-

diskrezzjoni ta’ l-awtorità kompetenti ma tistax, la darba tkun ;iet

e]erçitata b’mod xieraq, tkun mist[arr;a mit-Tribunal.

(4) Appell mag[mul ta[t dan l-artikolu ma g[andux

jissospendi l-e]ekuzzjoni ta’ xi deçi]joni li minnha jkun sar l-appell

[lief fil-ka] ta’ appell minn deçi]joni msemmija f’paragrafu (h) tas-

subartikolu (2) ta’ dan l-artikolu>

I]da, deçi]joni biex jit[assar isem ta’ persuna mir-Re;istru

ta’ l-A;enti, mir-Re;istru tal-Managers jew mir-Re;istru tal-Brokers

jew mil-Lista ta’ l-A;enti, mil-Lista tal-Managers jew mil-Lista tal-

Brokers m’g[andhiex tid[ol fis-se[[ sakemm jg[addi ]-]mien li fih

jista’ jsir appell skond dan l-artikolu u, jekk isir appell f’dak i]-zmien,

id-deçi]joni ssir operattiva fid-data tad-deçi]joni li fiha t-Tribunal jiç[ad

l-appell jew li fiha l-appell ikun abbandunat.

51. L-awtorità kompetenti u kull membru, uffiçjal jew impjegat Esklu]joni ta’

responsabbiltà.

ta’ l-awtorità kompetenti, u kull persuna ma[tura biex taqdi funzjoni

ta[t dan l-Att jew regolamenti mag[mula bis-sa[[a tieg[u ma jkunux

responsabbli g[al xi danni dwar xi [a;a li tkun saret jew li naqset milli

ssir fil-qadi jew f’dak li jidher li jkun il-qadi ta’ xi funzjonijiet ta[t dan

l-Att, jew xi regolamenti kif hawn qabel imsemmi, kemm-il darba l-

g[emil jew in-nuqqas ma jintwerix li jkun sar jew naqas milli jsir, skond

il-ka], b’mala fede.

Reati.

(1) Kull persuna -

52. (a) li sabiex tikseb r-re;istrazzjoni jew l-iskrizzjoni ta[t dan

l-Att jew skond xi regolamenti mag[mula bis-sa[[a tieg[u tag[ti

informazzjoni jew tag[mel stqarrija jew dikjarazzjoni li tkun taf li

mhux preçi]a, falza jew qarrieqa f’xi partikular materjali, jew li bi

traskura;ni tag[ti informazzjoni jew tag[mel stqarrija jew

dikjarazzjoni li tkun mhux preçi]a, falza jew qarrieqa f’xi partikular

materjali, jew

(b) li tikser jew tonqos li t[ares xi disposizzjonijiet ta’ dan

l-Att, jew ta’ l-artikolu 29, 30, 31A jew 38 ta’ l-Att dwar il-

Kummerç ta’ l-Assigurazzjoni kif applikabbli skond l-artikolu 54

ta’ dan l-Att<

(ç) li tikser jew tonqos li t[ares xi regolamenti mag[mula

ta[t dan l-Att< barra minn regolamenti li dwarhom ikunu ordnati

penalitajiet amministrattivi ta[t il-paragrafu (h) tas-subartikolu (2)

ta’ l-artikolu 3 ta’ dan l-Att<

(d) li tikser jew tonqos li t[ares xi regola dwar l-intermedjarji

fl-assigurazzjoni jew xi kundizzjoni ta’ re;istrazzjoni jew

iskrizzjoni<

(e) li tonqos li t[ares xi ordni le;ittimu jew [tie;a le;ittima

ta’ l-awtorità kompetenti<

(f) li tonqos li t[ares xi ordni le;ittimu jew [tie;a le;ittima

ta’ xi persuna o[ra mag[mula ta[t dan l-Att u ta[t xi regolamenti

mag[mula bis-sa[[a tieg[u<

(g) li ming[ajr ra;uni xierqa tibdel, i]]omm, ta[bi,

tiddistru;;i jew tirrifjuta li tipproduçi xi dokument li hu

le;ittimament me[tie; li ji;i provdut minn xi persuna ta[t dan l-

Att jew xi regolamenti mag[mula bis-sa[[a tieg[u< jew

(h) li bir-rieda tfixkel persuna li tkun qed te]erçita d-drittijiet

mog[tija b’dan l-Att jew b’xi regolamenti mag[mula bis-sa[[a

tieg[u,

tkun [atja ta’ reat.

(2) Kull persuna li xjentement tipparteçipa fi, jew tipprokura

jew tg[in jew t[ajjar l-eg[mil ta’ reat ta[t is-subartikolu (1) tkun [atja

ta’ reat u tista’ te[el l-istess pieni b[all-awtur tar-reat.

(3) Il-Ministru g[andu jag[mel regolamenti ta[t dan l-

artikolu li jippreskrivu penalitajiet g[al reati kontra dan l-Att, u dawk

ir- regolamenti jistg[u jippreskrivu -

(a)

penalitajiet li jistg[u ji;u nfurzati fil-qrati ta’ Malta<

(b) penalitajiet differenti g[al kontravvenzjonijiet ta’

disposizzjonijiet differenti ta’ dan l-Att<

(ç)

penalitajiet kalkolati skond kemm idum l-eg[mil tar-

reat,

kemm-il darba dawk il-penalitajiet ma jkunux xort’o[ra imposti ta[t l-

artikolu 3 ta’ dan l-Att.

53. (1) Il-penalitajiet ordnati b’regolamenti mag[mula ta[t l-

artikolu 52 ta’ dan l-Att -

(a) fil-ka] ta’ pri;unerija, ma g[andhomx jipprovdu g[al

sentenza ta’ pri;unerija li tkun iktar minn sentejn<

(b) fil-ka] ta’ penali mposta wara prosekuzzjoni fil-qrati

ta’ Malta, ma g[andhomx jipprovdu g[al multa ta’ inqas minn

mitt lira u iktar minn [amsin elf lira Maltija<

(ç) fil-ka] ta’ reat kontinwat, ma g[andhomx jipprovdu g[al

multa ta’ inqas minn [amsin lira jew iktar minn mitt lira g[al kull

jum li matulu r-reat ikompli.

(2) Ebda proçedimenti g[al reat ta[t dan l-Att jew xi

regolament mag[mul ta[tu, [lief g[al infrazzjonijiet li g[alihom japplika

paragrafu (h) tas-subartikolu (2) ta’ l-artikolu 3, ma jistg[u jinbdew

ming[ajr il-kunsens ta’ l-Avukat :enerali.

(3) Id-disposizzjonijiet ta’ dan l-Att m’g[andhomx jolqtu

xi proçedimenti kriminali li jistg[u jittie[du ta[t xi li;i o[ra.

54. (1) Bla [sara g[ad-disposizzjonijiet tas-subartikolu (2) ta’ Applikazzjoni ta’ xi

artikoli ta’ l-Att

dan l-artikolu>

dwar il-Kummerç

ta’ l-Assigurazzjoni

g[al intermedjarji

(a) id-disposizzjonijiet ta’ l-artikoli 29 sa 31A u ta’ l-

fl-assigurazzjoni.

artikolu 38 ta’ l-Att dwar il-Kummerç ta’ l-Assigurazzjoni Kap. 403.

(hawnhekk i]jed ’il quddiem f’dan l-artikolu msejja[ “l-Att”)

g[andhom japplikaw g[al persuna iskritta, b[allikieku riferenza

f’dawk id-disposizzjonijiet –

(i) g[al “awtorizzazzjoni” kienet riferenza g[al

“iskrizzjoni fil-Lista ta’ l-A;enti, fil-Lista tal-Managers jew

fil-Lista tal-Brokers”<

(ii) g[al “kumpannija awtorizzata” kienet riferenza

g[al “persuna iskritta”<

(iii) g[al “kummerç ta’ l-assigurazzjoni” kienet

riferenza g[al “attivitajiet ta’ intermedjajru fl-assigurazzjoni”<

(iv) g[al “kumpannija li jkollha l-uffiççju prinçipali

tag[ha f’pajji] barra minn Malta” kienet riferenza g[al

“kumpannija barranija”< u

(b) l-artikoli 29 sa 31A ta’ l-Att g[andhom japplikaw g[al

persuna iskritta fil-Lista ta’ l-Intermedjarji Marbuta fl-

Assigurazzjoni b[allikieku riferenza f’dawk id-disposizzjonijiet>

(i) g[al “awtorizzazzjoni” kienet riferenza g[al

“iskrizzjoni fil-Lista ta’ Intermedjarji Marbuta fl-

Assigurazzzjoni”<

(ii) g[al “kumpannija awtorizzata” kienet riferenza

g[al “intermedjarju fl-assigurazzjoni marbuta”<

(iii) g[al “kummerç ta’ l-assigurazzjoni” kienet

riferenza g[al “attivitajiet ta’ intermedjarji marbuta fl-

assigurazzjoni”.

(2) Is-subartikolu (1) g[andu jkun japplika g[al persuna

iskritta b[allikieku riferenza fid-disposizzjonijiet rilevanti ta’ l-Att g[al

“l-awtorità kompetenti” kienet riferenza g[al “l-awtorità kompetenti”

ta[t dan l-Att, u riferenzi g[al “regola dwar l-assigurazzjoni” kienu

riferenzi g[al “regola dwar l-intermedjarji fl-assigurazzjoni”.

55. (1) Bla [sara g[ad-disposizzjonijiet tas-subartikoli li ;ejjin

ta’ dan l-Att, l-Att dwar il-Brokers fl-Assigurazzjoni u Intermedjarji

o[ra, qieg[ed b’dan ji;i m[assar.

(2) Kull liçenzja ma[ru;a jew kull azzjoni o[ra tkun li tkun

ittie[det jew inbdiet ta[t l-Att dwar il-Kummerç ta’ l-Assigurazzjoni,

safejn japplika g[al a;enti u l-managers fl-assigurazzjoni, jew ta[t l-

Att dwar il-Brokers fl-Assigurazzjoni u Intermedjarji O[ra, g[andhom

ikomplu japplikaw, u jibqg[u validi, daqslikieku dik il-liçenzja kienet

ma[ru;a jew daqslikieku dik l-azzjoni l-o[ra kienet me[uda jew mibdija

ta[t dan l-Att.

(3) Kull persuna jew kumpannija li jkollha liçenzja ta[t l-

Att dwar il-Kummerç ta’ l-Assigurazzjoni biex ta;ixxi b[ala a;ent fl-

assigurazzjoni jew b[ala manager fl-assigurazzjoni hekk kif mfisser

f’dak l-Att jew ta[t l-Att dwar il-Brokers fl-Assigurazzjoni u

Intermedjarji O[ra biex ta;ixxi b[ala broker fl-assigurazzjoni jew sotto-

a;ent fl-assigurazzjoni hekk kif mfisser fl-a[[ar Att hawn qabel

msemmi, g[andha, mhux iktar tard mid-data stabbilita, t[ares id-

disposizzjonijiet ta’ dan l-Att jew inkella tieqaf milli ta;ixxi b[ala

intermedjarju fl-assigurazzjoni, u g[andha, sad-data stabbilita jew

sakemm t[ares id-disposizzjonijiet ta’ dan l-Att, skond liema ji;i l-

ewwel, tkompli tkun regolata mid-disposizzjonijiet ta’ l-Att dwar il-

Kummerç ta’ l-Assigurazzjoni jew l-Att dwar il-Brokers fl-

Assigurazzjoni u Intermedjarji O[ra, skond il-ka]. G[all-finijiet ta’ dan

is-subartikolu “id-data stabbilita” tfisser jum li ji;i sitt xhur wara d-

data tal-bidu fis-se[[ ta’ dan l-Att.

(4) Meta kumpannija tieqaf milli ta;ixxi b[ala a;ent fl-

assigurazzjoni, manager fl-assigurazzjoni jew broker fl-assigurazzjoni

min[abba li dik il-kumpannija ma t[arsitx, fid-data stabbilita, id-

disposizzjonijiet ta’ dan l-Att, dik il-kumpannija g[andha titqies li tkun

g[amlet applikazzjoni lill-awtorità kompetenti ta[t l-artikolu 26 ta’ dan

l-Att fid-data stabbilita biex tieqaf milli tkompli attivitajiet ta’

intermedjarja fl-assigurazzjoni minn dik id-data u li jkun in[ar;ilha

permess mill-awtorità kompetenti ta[t dak l-artikolu fid-data stabbilita

biex tieqaf milli tmexxi dak il-kummerç minn dik id-data u biex tag[mel

run-off ta’ dak il-kummerç ukoll minn dik id-data. L-awtorità kompetenti

tista’ timponi dawk il-kundizzjonijiet dwar run off ta’ dak il-kummerç

skond kif jidhrilha xieraq.

(5) Meta persuna tieqaf milli ta;ixxi b[ala broker fl-

assigurazzjoni re;istrat min[abba li dik il-persuna ma [arsitx, fid-data

stabbilita, id-disposizzjonijiet ta’ dan l-Att -

(a) dik il-persuna g[andha titqies li tkun g[amlet talba lill-

awtorità kompetenti ta[t il-paragrafu (e) ta’ l-artikolu 16 ta’ dan l-

Att fid-data stabbilita, biex titlob lill-awtorità kompetenti t[assar

isimha mir-re;istru hawn qabel imsemmi f’dik id-data<

(b) l-awtorità kompetenti tkun meqjusa li tkun [assret l-

isem ta’ dik il-persuna mir-Re;istru tal-Brokers f’dik id-data, u

f’dik id-data wkoll, innotifikat lil dik il-persuna li isimha t[assar

mir-Re;istru tal-Brokers< u dik il-persuna, g[andha minnufih, wara

d-data stabbilita, tag[ti lura lill-awtorità kompetenti ç-çertifikat

ta’ re;istrazzjoni u kull kopja uffiçjali li jkollha ta’ dak iç-çertifikat.

(6) Meta persuna tieqaf milli ta;ixxi b[ala sotto-a;ent fl-

assigurazzjoni min[abba li dik il-persuna ma [arsitx, fid-data stabbilita,

id-disposizzjonijiet ta’ dan l-Att -

(a) dik il-persuna g[andha titqies li tkun g[amlet

applikazzjoni lill-kumpannija awtorizzata, li isimha hu re;istrat

fir-Registru ta’ Kumpanniji g[al Intermedjarji Marbuta fl-

Assigurazzjoni tal-kumpannija, ta[t il-paragrafu (b) ta’ l-artikolu

39 ta’ dan l-Att, fid-data stabbilita, titlob lill-kumpannija biex

t[assar isimha mir-re;istru hawn qabel imsemmi f’dik id-data<

(b) il-kumpannija awtorizzata konçernata tkun meqjusa li

tkun [assret l-isem ta’ dik il-persuna mir-Re;istru ta’ Kumpanniji

g[al Intermedjarji Marbuta fl-Assigurazzjoni tal-kumpannija f’dik

id-data, u f’dik id-data wkoll, innotifikat lil persuna u lil awtorità

kompetenti skond hekk, ta[t is-subartikolu (6) ta’ l-artikolu 40 ta’

dan l-Att<

(ç) l-awtorità kompetenti g[andha titqies li tkun [assret l-

isem ta’ dik il-persuna mir-Re;istru ta’ Kumpanniji g[al

Intermedjarji Marbuta fl-Assigurazzjoni tal-kumpannija f’dik id-

data, u f’dik id-data wkoll, innotifikat il-kumpannija awtorizzata

konçernata skond hekk, ta[t il-paragrafu (a) tas-subartikolu (3) ta’

l-artikolu 40 ta’ dan l-Att< u l-kumpannija awtorizzata konçernata

g[andha minnufih, wara d-data stabbilita, tag[ti lura lill-awtorità

kompetenti ç-çertifikat ta’ iskrizzjoni dwar dik il-persuna u kull

kopja uffiçjali li jkollha ta’ dak iç-çertifikat.

(7) Bla [sara g[ad-disposizzjonijiet ta’ l-artikolu 12 ta’ l-

Att dwar l-Interpretazzjoni -

(a) kull regolamenti, direttivi dwar l-assigurazzjoni, direttivi

dwar l-intermedjarji fl-assigurazzjoni, l-ordnijiet u l-istrumenti l-

o[ra kollha li n]ammew fis-se[[ jew li saru ta[t l-Att dwar il-

Kummerç ta’ l-Assigurazzjoni, safejn japplika g[al a;enti u l-

managers fl-assigurazzjoni, u mill-Att dwar il-Brokers fl-

Assigurazzjoni u Intermedjarji O[ra< u

(b) kull ftehim u arran;amenti li setg[u saru bis-sa[[a ta’

l-Att dwar il-Kummerç ta’ l-Assigurazzjoni, safejn japplika g[al

a;enti u l-managers fl-assigurazzjoni, u ta’ l-Att dwar il-Brokers

fl-Assigurazzjoni u Intermedjarji O[ra, jew li saru bis-sa[[a ta’

kull regolament, direttivi dwar l-assigurazzjoni, direttivi dwar l-

intermedjarji fl-assigurazzjoni, ordni jew strument ie[or,

g[andhom jekk ikunu u safejn jkunu minnufih qabel il-bidu fis-se[[ ta’

dan l-artikolu, jitqiesu li saru ta[t jew bis-sa[[a ta’ dan l-Att u g[andhom

jibqg[u fis-se[[ u jistg[u ji;u amendati, mibdula, m[assra jew xort’o[ra

trattati skond hekk.

(8) Ir-riferenzi kollha f’xi li;i u f’xi strument jew dokument

ie[or g[all-Att dwar il-Kummerç ta’ l-Assigurazzjoni, safejn japplika

g[al a;enti u l-managers fl-assigurazzjoni, jew l-Att dwar il-Brokers

fl-Assigurazzjoni u Intermedjarji O[ra, jew xi disposizzjoni tag[hom,

g[andhom, safejn dan ikun applikabbli, jibqg[u jinqraw u jiftiehmu

b[ala riferenza g[al dan l-Att jew g[ad-disposizzjoni minnu

korrispondenti tieg[u.

(9) Kull referenza g[all-direttiva dwar l-intermedjarji fl-

assigurazzjoni ma[ru;a mill-awtorità kompetenti bis-sa[[a tas-

subartikolu (3) ta’ l-artikolu 4 ta’ l-Att dwar il-Brokers fl-Assigurazzjoni

u Intermedjarji O[ra f’kull liçenzja, avvi], deçi]joni jew azzjoni o[ra

mag[mula mill-awtorità kompetenti qabel il-bidu fis-se[[ tad-

disposizzjonijiet ta’ dan l-Att, u kull referenza f’kull li;i g[ad-direttiva

dwar l-intermedjarji fl-assigurazzjoni g[andha titqies li hija riferenza

g[al regola dwar l-intermedjarji fl-assigurazzjoni.

(10) G[all-fini ta’ dan l-artikolu, “liçenzja” tinkludi awtorità

jew awtorizzazzjoni, permess, approvazzjoni, registrazzjoni, iskrizzjoni

u [atra u l-kelma ‘liçenzjata’ g[andha tiftiehem f’dan is-sens.

TAQSIMA X

EMENDI TA’ L-ATT DWAR L-AWTORITÀ

GHAS-SERVIZZI FINANZJARJI TA’ MALTA, KAP. 330

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 2 Interpretation and scope. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) In this Act, unless the context otherwise requires -

“advertisement”, in relation to insurance intermediaries

activities, means any form of advertising, whether done verbally

or in writing and, without prejudice to the generality of the

foregoing, includes advertising in a publication, the display of

notices, signs, labels or showcards, by means of letters, circulars,

prospectuses, catalogues, price lists or other documents, by an

exhibition of pictures or photographic or cinematographic films,

by way of sound broadcasting or television, by the distribution of

recordings or in any other manner, and references to the issue of

an advertisement shall be construed accordingly<

“Agents List” means the list of persons acting as insurance

agents established and maintained under article 9 of this Act<

“Agents Register” means the insurance agents register

established and maintained under article 7 of this Act<

“approved auditor” and “auditor” have the meaning assigned

to them by subarticle (10) of article 28 of this Act<

“authorised company” means a company authorised or any

person deemed authorised, under the Insurance Business Act, to Cap. 403.

carry on business of insurance and includes a company enrolled

under this Act to act as an insurance agent of the company, as well

as a European insurance undertaking having its head office in a

Member State or an EEA State establishing a branch or providing

services in Malta in exercise of a European right<

“binding authority agreement” means an agreement between

a member of Lloyd’s or a person acting on its behalf and a

coverholder under which the coverholder may, in accordance with

the terms thereof, accept risks or commitments on behalf of that

member of Lloyd’s<

“body corporate” means an entity having a legal personality

distinct from that of its members<

“branch” means premises of the company, other than its head

office, from which insurance intermediaries activities are carried

out<

“Brokers List” means the list of persons carrying on business

as insurance brokers established and maintained under article 9 of

this Act<

“Brokers Register” means the insurance brokers register

established and maintained under article 7 of this Act<

“business of insurance” has the same meaning as is assigned

to it by subarticle (1) of article 2 of the Insurance Business Act<

“business of insurance broking”, in relation to a registered

insurance broker or an enrolled insurance broker, means the

activities listed in paragraph 1 of the Third Column of the Schedule<

“cell” has the same meaning as is assigned to it by the

Companies Act<

“cell company” has the same meaning as is assigned to it by

the Companies Act<

“certificate of enrolment” -

(a) in relation to a person acting as an insurance agent,

means a certificate issued by the competent authority under

article 14 of this Act to the person evidencing enrolment of

that person in the Agents List< and

(b) in relation to a person acting as an insurance

manager, means a certificate issued by the competent authority

under article 14 of this Act to the person evidencing enrolment

of that person in the Managers List<

(c) in relation to a person carrying on business as

insurance broker, means a certificate issued by the competent

authority under article 14 of this Act to the person evidencing

enrolment of that person in the Brokers List< and

(d) in relation to a person registered as a tied insurance

intermediary in the Tied Insurance Intermediaries Company

Register of any company, means a certificate issued by the

competent authority under article 37 of this Act to the

company enrolling that person evidencing enrolment of that

person in the Tied Insurance Intermediaries List<

“certificate of registration”-

(a) in relation to an individual registered as an

insurance agent, means a certificate issued by the competent

authority under article 14 of this Act to that individual

evidencing registration of that individual in the Agents

Register<

(b) in relation to an individual registered as an

insurance manager, means a certificate issued by the

competent authority under article 14 of this Act to that

individual evidencing registration of that individual in the

Managers Register< and

(c) in relation to an individual registered as an

insurance broker, means a certificate issued by the competent

authority under article 14 of this Act to that individual

evidencing registration of that individual in the Brokers

Register<

“class” -

(a) in relation to long term business, means any of the

classes specified in the Second Schedule to the Insurance

Business Act< and

(b) in relation to general business, means any of the

classes specified in Part I of the Third Schedule to the

Insurance Business Act<

“commitment” and “country of the commitment” have the

same meanings as are assigned to them by subarticle (1) of article

2 of the Insurance Business Act<

“company” includes a local company and a foreign company<

“competent authority” means the body appointed under article

3 of the Insurance Business Act<

“conditions” includes obligations and restrictions<

“contract of insurance” and “contract” have the same

meanings as are assigned to them by subarticle (1) of article 2 of

the Insurance Business Act<

“control”, in relation to a body corporate, is the power to

determine the financial and operating policies of the body corporate<

“controller”, in relation to a body corporate, is a person who,

alone or together with others, exercises control of the body

corporate<

“coverholder” means a person authorised under a binding

authority agreement to accept or to issue documents related to

contracts of insurance evidencing the acceptance of risks or

commitments on behalf of a member of Lloyd’s granting such

authority pursuant to such agreement<

“director”, in relation to a company, includes an individual

occupying the position of a director of the company, by whatever

name he may be called, empowered to carry out substantially the

same functions in relation to the direction of the company as those

carried out by a director and, in respect of a foreign company,

includes a member of a local board, an agent and the person

designated as the representative of that company for the purpose

of sub-paragraph (ii) of paragraph (b) of subarticle (1) of article

12 of this Act<

“EEA State” means a State which is a contracting party to the

agreement on the European Economic Area signed at Oporto on 2

May, 1992 as amended by the Protocol signed at Brussels on the

17 th March, 1993 and as amended from time to time<

“enrolled” -

(a) in relation to a person acting as an insurance agent,

means enrolled in the Agents List under article 13 of this

Act<

(b) in relation to a person acting as an insurance

manager, means enrolled in the Managers List under article

13 of this Act<

(c) in relation to a person carrying on business as

insurance broker, means enrolled in the Brokers List under

article 13 of this Act< and

(d) in relation to a person registered as a tied insurance

intermediary, means enrolled in the Tied Insurance

Intermediaries List under article 37 of this Act,

and, in each case, “enrolment” shall be construed accordingly<

“European insurance undertaking” means an undertaking

having its head office in a Member State or an EEA State, other

than Malta, pursuing the activity of direct insurance within the

meaning of article 1 of First Council Directive 73#239#EEC of 24

July 1973 on the coordination of laws, Regulations and

administrative provisions relating to the taking-up and pursuit of

direct insurance other than life assurance or article 2 of Directive

2002#83#EC of the European Parliament and of the Council of 5

November 2002 concerning life assurance, which has received

authorisation under article 6 and article 4 of the said Directives

respectively<

“financial year” shall be construed in accordance with

subarticle (4) of article 27 of this Act<

“foreign company” means a company or a partnership en

commandite or similar or equivalent body corporate, the capital of

which is divided into shares, registered, incorporated or constituted

outside Malta under the laws of any country provided that such

company or partnership en commandite has complied with the

provisions of any law which may from time to time be in force in

Malta relating thereto>

Provided that, unless otherwise specified, the term “foreign

company” shall not include a European insurance intermediary

registered under article 3 of Directive 2002#92#EC of the European

Parliament and of the Council of 9 December 2002 on insurance

mediation<

“functions” includes responsibilities, powers and duties<

“group” and “group of classes”, in relation to general business,

means any group of classes or part classes specified in Part II of

the Third Schedule to the Insurance Business Act<

“insurance agent” means a person carrying out activities listed

in paragraph (2) of the Third Column of the Schedule< and in

relation to Lloyd’s, means a person enrolled as such under article

13 of this Act appointed by or on behalf of a member of Lloyd’s to

be its coverholder in Malta in respect of business of insurance

with authority to enter into contracts of insurance on behalf of that

member under the terms of a binding authority agreement<

“insurance broker” means a person carrying on business of

insurance broking<

“insurance manager” means a person carrying out activities

listed in paragraph (3) of the Third Column of the Schedule<

“insurance intermediary” means any natural or legal person

who, takes up or pursues insurance intermediaries activities, and

includes a person providing services ancillary to other business of

insurance as may be prescribed<

“insurance intermediaries activities” means the activities of

introducing, proposing or carrying out other work preparatory to

the conclusion of contracts of insurance, or of concluding such

contracts, or of assisting in the administration and performance of

such contracts, in particular in the event of a claim and includes

the activities listed in paragraphs 1 to 4 of the Third Column of the

Schedule and any other activities as may be prescribed<

“insurance intermediaries rule” means a rule in respect of

insurance intermediaries activities which shall be binding on

insurance intermediaries and others as may be specified therein,

issued by the competent authority in virtue of subarticle (2) of

article 4 of this Act<

“insurer” has the same meaning as assigned to it by subarticle

(1) of article 2 of the Insurance Business Act<

“local company” means a limited liability company formed

and registered under the Companies Act and includes, subject to

subarticle (2) of this article, a partnership en commandite, the capital

of which is divided into shares, formed and registered under the

said Act<

“Malta’s international commitments” has the same meaning

as assigned to it by subarticle (1) of article 2 of the Insurance

Business Act<

“Managers List” means the list of persons acting as insurance

managers established and maintained under article 9 of this Act<

“Managers Register” means the insurance managers register

established and maintained under article 7 of this Act<

“Member State” means a Member State of the European

Communities<

“Minister” means the Minister responsible for finance<

“money laundering” has the same meaning as is assigned to

it by the Prevention of Money Laundering Act<

“officer”, in relation to a company, includes a director, partner,

manager or company secretary or any person effectively acting in

such capacity whether formally appointed or not<

“own funds” shall be construed in accordance with an

insurance intermediaries rule made for the purpose of this Act to

determine the amounts and components which make up the enrolled

person’s own funds<

“prescribed” means prescribed by regulations under this Act<

“qualifying shareholding” means a direct or indirect holding

in a company which represents ten per centum or more of the share

capital issued by such company or of the voting rights attaching to

such share capital or which makes it possible to exercise a

significant influence over the management of the company, and

“qualifying shareholder” shall be construed accordingly<

“registered” -

(a) in relation to a person registered as an insurance

agent under article 13 of this Act, means registered in the

Agents Register<

(b) in relation to a person registered as an insurance

manager under article 13 of this Act, means registered in the

Managers Register<

(c) in relation to a person registered as an insurance

broker under article 13 of this Act, means registered in the

Brokers Register< and

(d) in relation to a person registered as a tied insurance

intermediary under article 37 of this Act, means registered in

the Tied Insurance Intermediaries Company Register of any

one or more companies,

and, in each case, “registration” shall be construed accordingly<

“representative” shall be construed in accordance with article

12 of the Insurance Business Act<

“risk situated in Malta” has the same meaning as is assigned

to it by subarticle (1) of article 2 of the Insurance Business Act<

“Schedule” means the Schedule to this Act<

“tied insurance intermediary” means a person carrying on tied

insurance intermediaries activities<

“tied insurance intermediaries activities”, in relation to a

person registered as a tied insurance intermediary, means activities

listed in paragraph 4 of the Third Column of the Schedule and any

person who carries on insurance intermediaries activities, in

addition to his principal professional activity, shall also be

considered as a tied insurance intermediary acting under the

responsibility of an authorised company for the products offered

on its behalf if the insurance is complementary to the goods supplied

or services provided in relation to his principal professional activity,

whether or not the person collects premiums or amounts intended

for the policyholder concerned<

“Tied Insurance Intermediaries List” means the list of tied

insurance intermediaries established and maintained under

subarticle (1) of article 36 of this Act<

“Tied Insurance Intermediaries Company Register” in relation

to an authorised company means the Tied Insurance Intermediaries

Company Register established and maintained by a company under

subarticle (1) of article 34 of this Act<

“Tribunal” means the Financial Services Tribunal referred to

in article 21 of the Malta Financial Services Authority Act.

(2) The objective of this Act is, in part, to implement the

provisions of Directive 2002#92#EC of the European Parliament and of

the Council of 9 December 2002 on insurance mediation, and any other

Directive of the European Parliament and of the Council that may be

issed from time to time on the regulation of insurance intermediaries

which shall be interpreted and applied accordingly.

(3) The provisions of this Act shall apply to a partnership

en commandite or to a similar or equivalent body corporate subject to

such modifications as the competent authority may, from time to time,

make in any provision thereof, which modifications shall not materially

detract from the main object of the provisions so modified.

(4) In this Act and in any regulations made thereunder, if

there is any conflict between the English and the Maltese texts, the

English text shall prevail.

PART II

REGULATORY POWERS

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Schedule — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(Article 2)

INSURANCE INTERMEDIARIES AND INSURANCE INTERMEDIARIES

ACTIVITIES

For the purposes of paragraph 1 of the Third Column of this Schedule, “risk”

means and includes a risk situated in Malta or a risk situated outside Malta< and “risk

situated outside Malta”, in relation to a contract of insurance, has the same meaning as

is assigned to it by subarticle (1) of article 2 of the Insurance Business Act<

First Column

Second Column

Third Column

Independent

Dependent

Insurance Intermediaries Activities

Insurance

Insurance

Intermediaries

Intermediaries

Insurance Broker

1. Professional activities of persons listed in

the First Column of this Schedule who, acting

with complete freedom as to their choice of

lawful insurers, bring together, with a view to

the insurance or reinsurance of risks or

commitments, persons seeking insurance or

reinsurance and insurers or reinsurers, carry

out work preparatory to the conclusion of

contracts of insurance or reinsurance and,

where appropriate, assist in the administration

and performance of such contracts, in

particular in the event of a claim<

Insurance Agent

2. Professional activities of persons listed in

the Second Column of this Schedule who are

appointed by an authorised company to be its

agent in respect of business of insurance with

authority to enter into contracts of insurance

on behalf of the company under the terms of

the appointment<

Insurance Manager 3. Professional activities of persons listed in

the Second Column of this Schedule which

consist of accepting an appointment from>

First Column

Second Column

Third Column

Independent

Dependent

Insurance Intermediaries Activities

Insurance

Insurance

Intermediaries

Intermediaries

(a) an insurer or reinsurer to manage any part

of its business, or to exercise managerial

functions therein, or to be responsible for

maintaining accounts or other records of such

insurer or reinsurer and in this context,

“management” includes authority to enter into

contracts of insurance on behalf of the insurer

or reinsurer under the terms of the

appointment< and

(b) an insurance broker enrolled under this

Act, restricted to contracts of insurance

relating to risks situated outside of Malta, to

manage any part of its business, or to exercise

managerial functions therein, or to be

responsible for maintaining accounts or other

records for the broker<

Tied Insurance

4. Activities of persons listed in the Second

Intermediary

Column of this Schedule who, carry on

insurance intermediaries activities for or on

behalf of one or more authorised companies

in the case of insurance products which are

not in competition, acting under the full

responsibility of those authorised companies

for the products which concern them

respectively and who may collect premiums

or amounts intended for the policyholder,

provided that no insurance commitments

towards or on the part of the public are given

as part of these activities.

A

Passed by the House of Representatives at Sitting No. 424 of 25th July, 2006.

A NTON T ABONE

Speaker

R ICHARD J. C AUCHI

Clerk to the House of RepresentativesI assent.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 3 Powers of the Minister. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) The competent authority appointed under article 3 of the

Insurance Business Act shall carry out the functions of the competent

authority under this Act and, in particular, shall ensure compliance with

the provisions of this Act.

(2) The Minister may, after consultation with the

competent authority, make regulations as may be required for

carrying into effect any of the provisions of this Act and without

prejudice to the generality of the foregoing, the Minister may, by

such regulations, in particular, make provisions in respect of any

one or more of the following matters -

(a) the implementation of Directive 2002#92#EC of the

European Parliament and of the Council of 9 December 2002 on

insurance mediation<

(b) the transposition of any requirement or provision as may

arise under a Directive, Regulation or Decision of the European

Union or any other similar measure relevant for the purposes of

this Act<

(c)

the amendment or revocation of the Schedule<

(d) the payment by any person, body or cell created by a

cell company, as the case may be, of any fees, duties and such

other charges payable to the competent authority in respect of any

matter provided for, by or under the Act, or any regulations made

under this article<

(e) the registration or enrolment of persons, other than

persons registered or enrolled by virtue of this Act, carrying out

insurance intermediaries activities or providing services ancillary

to business of insurance as may be prescribed<

(f) any matter relating to or connected with any provision

contained in the Schedule<

(g) any matter that may or is to be prescribed under any

provision of this Act<

(h) the administrative penalties in respect of infringements

as may be prescribed which may be imposed and recovered by the

competent authority without recourse to a court hearing<

administrative penalties shall be due to the competent authority as

a civil debt>

Provided that, an administrative penalty may not be greater

than a financial penalty of forty thousand Maltese liri in respect of

any infringement and, where an infringement continues, a further

penalty not exceeding fifty Maltese liri for each day during which

the infringement continues<

(i) the penalties or other punishments to which persons

contravening or failing to comply with any provision of any

regulation made under this Act shall become liable, being penalties

of not less than one hundred Maltese liri and not exceeding forty

thousand Maltese liri, in respect of any offence and in respect of a

continuing offence of a further penalty not exceeding one hundred

Maltese liri for each day during which the offence continues<

(j) any matter incidental to or connected with any of the

above<

(k) any matter relating to the establishment, co-ordination,

amalgamation and otherwise of compensation schemes.

(3) The Minister may, after consulting the competent

authority, make regulations exempting any person from all or any of

the provisions of this Act or any regulations made thereunder, subject

to such conditions or requirements including the requirement of other

forms of registration or enrolment and notification procedures as may

be prescribed.

(4) The Minister may also by regulations under this article,

after consultation with the competent authority, extend and make

applicable any of the provisions of this Act to any insurance intermediary

activity as may be prescribed which in his opinion ought, in the public

interest, to be regulated by such provisions.

(5) Regulations made under this article may make such

exemptions, conditions or modifications as may be specified therein in

respect of different cases, circumstances or purposes and may give the

competent authority such power of adaptation of the regulations as may

be specified therein.

(6) In the event of a doubt as to whether an activity

constitutes the carrying out of insurance intermediaries activities, or

whether such insurance intermediaries activities are or are not being

carried on in Malta, the matter shall be conclusively determined by the

competent authority.

(7) The exercise of any of the powers assigned under this

article shall be subject to any obligations or restrictions arising from

Malta’s international commitments.

(8) Regulations made under this Act and any amendment

or revocation of such regulations, may be published in the English

language only.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 4 Powers and duties of the competent authority. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) It shall be the duty of the competent authority to carry

out the functions assigned to it by or under this Act and to ensure that

persons, companies or insurance intermediaries, registered or enrolled

in accordance with this Act and regulations made thereunder comply

with the provisions of this Act, any regulations made thereunder, with

insurance intermediaries rules made by the competent authority in virtue

of this Act and of any regulations made thereunder and with the

conditions specified in certificates of registration or enrolment.

(2) The competent authority may make insurance

intermediaries rules as may be required for carrying into effect any of

the provisions of this Act and of any regulations made thereunder. The

competent authority may amend or revoke such insurance intermediaries

rules.

(3) Insurance intermediaries rules and any amendment or

revocation thereof shall be officially communicated to the persons or

companies concerned and be open to public inspection at the offices of

the competent authority at all times during the normal working hours of

the competent authority.

(4) Insurance intermediaries rules made by the competent

authority in virtue of this Act may provide for different regulatory

requirements to be applicable to different categories of insurance

intermediaries< and without prejudice to insurance intermediaries rules

required to be made under this Act and to the generality of the foregoing,

the competent authority may, by such insurance intermediaries rules,

in particular -

(a) determine, in relation to insurance intermediaries, what

constitutes fitness and properness<

(b) determine, in relation to insurance intermediaries, the

criteria of sound and prudent management<

(c) determine the information which insurance

intermediaries shall disclose to persons seeking or making use of

insurance intermediary services<

(d) determine the codes of conduct which may regulate any

aspect of dealings between insurance intermediaries and insurance

companies or between such intermediaries and persons seeking or

making use of insurance intermediary services<

(e) determine, in relation to insurance intermediaries

activities, the issuing of advertisements and the undertaking of

any other promotional activities.

PART III

REGISTRATION OR ENROLMENT OF INSURANCE

AGENTS, INSURANCE MANAGERS AND INSURANCE

BROKERS

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 5 Application of this Part to specified insurance intermediaries. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

This Part of the Act applies to persons acting as insurance

agents, insurance managers and persons carrying on business as

insurance brokers, hereinafter referred to as “the intermediary”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 6 Registration or enrolment of insurance intermediaries. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) Subject to subarticle (3) of this article, no person shall

act as an intermediary and carry on, or attempt to carry on, in or from

Malta, insurance intermediaries activities unless such person is registered

or enrolled under article 13 of this Act.

(2) The competent authority shall not grant registration or

enrolment under this article to a person nor shall the competent authority

permit such person to be registered or enrolled thereunder or to remain

so registered or enrolled, unless it is satisfied that such person fulfils or

complies with the requirements set out in this Part of the Act.

(3) This article shall not apply to a person, which is

registered pursuant to Directive 2002#92#EC of the European Parliament

and of the Council of 9 December 2002 on insurance mediation in a

Member State or EEA State, other than Malta.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 7 Register of insurance intermediaries. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

The competent authority shall establish and maintain registers

of persons carrying on the insurance intermediaries activities of

insurance agents, insurance managers and insurance brokers, in this

Act separately referred to as the “Agents Register”, the “Managers

Register” or the “Brokers Register”, containing such particulars as the

competent authority may determine from time to time, by an insurance

intermediaries rule made for the purposes of this article, of all persons

which are entitled under this Act to be registered therein and to apply in

the manner determined by that rule to be so registered.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 8 Qualifications for registration. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) A person shall be entitled to be registered in the “Agents

Register”, the “Managers Register” or the “Brokers Register” if he

satisfies the competent authority that -

(a)

he is an individual<

(b) he is a fit and proper person to be so registered and to

ensure the company’s sound and prudent management<

(c) he possesses the qualifications and fulfils or complies

with the requirements determined by an insurance intermediaries

rule made for the purposes of this article.

(2) A person shall not be entitled to carry out insurance

intermediaries activities by virtue of his registration under this article

unless he is a director or an employee of a company enrolled under

article 13 of this Act.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 9 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

The competent authority shall establish and maintain a list of List of persons

carrying on

persons carrying on insurance intermediaries activities of insurance insurance

agents, insurance managers and insurance brokers, in this Act separately intermediaries

activities.

referred to as the “Agents List”, the “Managers List”, or the “Brokers

List”, containing particulars of all persons which are entitled under this

Act to be enrolled therein and which apply in the manner determined

from time to time by the competent authority in an insurance

intermediaries rule made for the purposes of this article.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 10 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) Subject to paragraph (b) of this subarticle, the General

requirements for

intermediary shall be entitled to be enrolled in the Agents List, Managers enrolment.

List or the Brokers List if, it satisfies the competent authority that>

(a)

in the case of an applicant which is a company>

(i) the applicant’s objects are limited to operations

arising directly from insurance intermediaries activities listed

in paragraphs (1), (2) and (3) of the Third Column of the

Schedule, as applicable, and to matters or functions connected

therewith or ancillary thereto, to the exclusion of all other

commercial business, other than business determined by an

insurance intermediaries rule made for the purposes of this

article<

(ii) the applicant discloses to the satisfaction of the

competent authority such information as the competent

authority has requested of it in relation to persons who will,

upon its enrolment, have any proprietary, financial or other

interest in, or in connection with, the applicant<

(iii) all qualifying shareholders, controllers and all

persons who will effectively manage the affairs or carry out

the operations appropriate to the application are fit and proper

persons to ensure its sound and prudent management<

(iv) the applicant’s own funds, whether in Maltese liri

or in other currencies acceptable to the competent authority

are at all times not less than such amount appropriate for the

kind of business to be carried on by it as may be determined

by an insurance intermediaries rule made for the purposes

under this Act and such own funds shall at all times be

unencumbered<

(v) the applicant has at all times in its favour a policy

of professional indemnity insurance or some other comparable

guarantee, in each case acceptable to the competent authority,

indemnifying it or any person employed by it or otherwise

acting for it, to such amount, in such manner and in respect

of such matters as the competent authority may from time to

time determine<

(vi) the applicant submits to the satisfaction of the

competent authority a scheme of operations appropriate to

the application which shall include the particulars or proof as

may be determined by an insurance intermediaries rule<

(b) in the case of an applicant who is an individual>

(i) indents (i) and (iii) of paragraph (a) of subarticle

(1) of this article shall not apply< and

(ii) he shall be entitled to be enrolled in the Agents

List, Managers List or the Brokers List if he satisfies the

competent authority that –

(aa) he is a fit and proper person to be so enrolled

and to ensure that the business is carried on in a sound

and prudent manner<

(bb) he possesses the qualifications and fulfils or

complies with the requirements determined by the Act

or an insurance intermediaries rule made for the purposes

of this article<

(cc) his activities are limited to operations arising

directly from insurance intermediaries activities and

matters and functions connected therewith or ancillary

thereto, to the exclusion of all other commercial business

other than business determined by an insurance

intermediaries rule.

(2) Where close links exist between the intermediary and

any other person, the competent authority shall>

(a) only grant enrolment if it considers that such close links

do not prevent it from effectively exercising its supervisory

functions< and

(b) refuse to grant enrolment if it considers that the laws,

regulations or administrative provisions of any country, other than

Malta, governing any person with whom the intermediary has close

links, or their enforcement, prevent it from effectively exercising

its supervisory functions.

(3) The competent authority may, from time to time, by

means of an insurance intermediaries rule issued under this Act define

the circumstances in which close links are to be regarded as existing

between the intermediary and any other person.

(4) Where the application is for enrolment to carry on

insurance intermediaries activities as an insurance agent or insurance

manager, the applicant is required to produce proof to the satisfaction

of the competent authority that such person holds an appointment in

writing signed by a senior officer of an insurer or an insurance broker,

as the case may be, for which the applicant desires to act designating

the applicant to act in the name and on behalf of the company, or solely

on behalf of the company, in the capacity specified in the appointment

and in respect of matters and under the conditions specified in that

appointment>

Provided that, where an application is for enrolment to act as

an insurance manager, the appointment referred in this paragraph shall

not constitute a prerequisite condition for granting enrolment in that

behalf provided that the enrolled insurance manager shall not act for an

insurer or an insurance broker, as the case may be, unless and until it

produces proof to the satisfaction of the competent authority that it holds

an appointment in writing from the company concerned to act on its

behalf.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 11 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) In the case of an applicant which is a local company, Specific

qualifications for

such company shall be entitled to be enrolled in the>

enrolment in the

case of local

(a) Agents List if, in addition to the requirements of article companies.

10 of this Act, the competent authority is satisfied that any one or

more of the company’s directors are registered in the Agents

Register<

(b) Managers List if, in addition to the requirements of

article 10 of this Act, the competent authority is satisfied that any

one or more of the company’s directors are registered in the

Managers Register<

(c) Brokers List if, in addition to the requirements of article

10 of this Act, the competent authority is satisfied that any one or

more of the company’s directors are registered in the Brokers

Register,

and the insurance intermediaries activities are carried on under the

management of a registered person.

(2) Every person enrolled under article 13 of this Act shall

make an application in writing to the competent authority before opening

a branch or setting up or acquiring a subsidiary in Malta.

(3) The competent authority may permit a person enrolled

as aforesaid to open a branch in Malta if it satisfied that the insurance

intermediaries activities carried on by it from the branch are conducted

by a registered person.

(4) No person enrolled under this Part of the Act may carry

out insurance intermediaries activities or set up or acquire a subsidiary

in any country outside Malta, except with the written consent of the

competent authority.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 12 Specific requirements for enrolment in the case of foreign companies. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) In the case of an applicant which is a foreign company,

such company shall be entitled to be enrolled in the Agents List,

Managers List or Brokers List if, in addition to the requirements of

article 10 of this Act, the competent authority is satisfied that -

(a) the company is registered or permitted in the country

where its head office is situated to carry on insurance intermediaries

activities<

(b) the company has in Malta at all times -

(i) a branch< and

(ii) a representative>

Provided that, a company carrying on business as an

insurance broker restricted to contracts of insurance relating

to risks situated outside of Malta may, either in lieu of or in

addition to opening a branch in Malta, appoint an insurance

manager enrolled under the Act to manage such business<

and as long as the insurance manager holds such appointment,

the business of insurance broking shall be under the

management of a registered insurance broker.

(2) In relation to a branch of a foreign company carrying

on insurance intermediaries activities as may be prescribed, the insurance

intermediaries activities shall be carried out from such branch by an

individual who satisfies the following requirements -

(a) in the case of a company carrying on insurance

intermediaries activities-

(i) the individual is registered in the Agents Register,

Managers Register or Brokers Register<

(ii) the individual is a director of the company or has

authority to act for the company and the insurance

intermediaries activities are carried on under his management<

(iii) the individual is not an approved auditor, or a

partner or an employee of an approved auditor of the company<

(b) in the case of a company carrying on other insurance

intermediaries activities as may be prescribed, provisions as may

be prescribed.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 13 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) An application for registration or enrolment under this Grant of registration

or enrolment by

article shall be made in such form and manner as the competent authority competent authority

to insurance

may from time to time determine.

intermediaries.

(2) The competent authority shall have the power to require

an applicant to provide such information as it may deem necessary for

the purpose of determining an application for registration or enrolment

under this article.

(3) The competent authority may grant registration or

enrolment under this article only if it is satisfied on the basis of the

information required to be submitted under this Act and any information

received by it, that registration or enrolment ought to be granted.

(4) Subject to the provisions of this Act, the competent

authority may subject registration or enrolment made under this article

to such conditions as it may from time to time deem fit to impose.

(5) The competent authority shall determine an application

for registration or enrolment under this article within three months of

receiving the information required to be submitted under this Act< and

if it refuses to grant the registration or enrolment it shall inform the

applicant in writing of the reasons for the refusal>

Provided that, in each case the competent authority may take such

measures as it may deem necessary for the protection of the interest of

the public.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 14 Certificate of registration or enrolment of intermediaries. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) On granting registration or enrolment under article 13

of this Act, the competent authority shall issue to the applicant concerned

a certificate of registration or enrolment in the form and manner as it

deems appropriate evidencing -

(a) in the case of an application for registration, registration

of the applicant in the Agents Register, Managers Register, or

Brokers Register, as the case may be<

(b) in the case of an application for enrolment, enrolment

of the applicant in the Agents List, Managers List or Brokers List,

as the case may be.

(2) A certificate of registration or enrolment granted under

this article or an official copy thereof shall be prominently displayed by

the intermediary concerned at his, or its place or places of business, in

a part thereof to which the public has access.

(3) The competent authority may by means of an insurance

intermediaries rule made for the purposes of this article, determine the

details to be included in the certificate of registration or enrolment.

PART IV

POWERS OF INTERVENTION IN RELATION TO PERSONS

ENROLLED UNDER PART III OF THIS ACT

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 15 Automatic striking off of registration or enrolment of intermediaries. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) An intermediary registered or enrolled under this Act

shall automatically be struck off the register or list, if -

(a) the intermediary does not commence to carry on the

insurance intermediaries activities pursuant to the registration or

enrolment within twelve months of it being granted, or within such

other period as may be specified in the registration or enrolment<

or

(b) the intermediary is declared bankrupt or goes into

liquidation or makes a composition with creditors of the

intermediary or is otherwise dissolved< or

(c) the intermediary has ceased to operate as a result of a

merger with another company carrying on insurance intermediaries

activities or for any other reason whatsoever< or

(d) in the case of a foreign company enrolled in terms of

article 13 of this Act, the overseas regulatory authority in the

country of registration or where the head office is situated

withdraws the registration or permission to carry on such activities.

(2) Paragraph (a) of subarticle (1) of this article shall not

apply to a person enrolled to act as an insurance manager.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 16 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Without prejudice to anything contained in any other Power of the

competent authority

provision of this Act, the competent authority may at any time suspend to suspend or strike

registration or enrolment or strike off the name of a registered or enrolled the

register or list.

person from the Agents Register, Managers Register or Brokers Register,

or the Agents List, Managers List or Brokers List if -

(a) any document or information accompanying an

application for registration or enrolment, or any information given

in connection therewith, is false, incorrect or misleading in any

material particular, or the registered or enrolled person has

concealed, or conceals from, or fails to notify to the competent

authority any document or information or change therein which

was the duty of the intermediary to reveal or to notify under this

Act and any regulations made thereunder or any insurance

intermediaries rule< or

(b) it considers that the registered or enrolled person does

not fulfil the requirements of, or has contravened, any of the

provisions of this Act and any regulations made thereunder, or

any insurance intermediaries rule, or has failed to satisfy or comply

with any condition to which he or it, or the registration or the

enrolment, is subject by virtue of or under this Act< or

(c) it considers that the registered or enrolled person is unfit

to retain his or its name in the Agents Register, Managers Register,

Brokers Register or the Agents List, Managers List or Brokers

List< or

(d) the enrolled company is no longer managed in a sound

and prudent manner to retain its name in the Agents List, Managers

List or Brokers List< or

(e) it receives a written request so to do by the registered

or enrolled person< or

(f) the enrolled person no longer possesses the required own

funds as applicable< or

(g) the enrolled person fails to pay the annual continuance

of registration or enrolment fee when due< or

(h) the registered or enrolled person is declared bankrupt

or the enrolled company goes into liquidation or makes a

composition with its creditors or is otherwise dissolved< or

(i) the enrolled company ceases to have on its board of

directors any one person who is a registered person< or

(j) it considers that, by reason of the manner in which the

registered or enrolled person is carrying on insurance intermediaries

activities, or for any other valid reason, the interest of the insurance

industry or of the public is threatened< or

(k) the registered individual or the enrolled person has

misappropriated or converted to his or to its own use or illegally

withheld monies held, or required to be held, by him or by it in a

fiduciary capacity< or

(l) the registered or enrolled person is convicted by any court

of law of any criminal offence, unless it is an offence which, owing

to its trivial nature or the circumstances under which it was

committed, does not render it or him unfit to have his name in the

Agents Register, Managers Register or Brokers Register or the

Agents List, Managers List or Brokers List< or

(m) the registered or enrolled person is considered by the

competent authority to have carried on insurance intermediaries

activities in an unprofessional manner< or

(n) the competent authority is prevented from exercising

its supervisory functions effectively because of the existence of

close links as may be defined by means of an insurance

intermediaries rule made under this Act.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 17 Notification of intention of suspension or striking a name off the register or list. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) Subject to the following provisions of this article, where

the competent authority intends to suspend a registration or enrolment

or strike the name of a registered or enrolled person off the Agents

Register, Managers Register or Brokers Register, or the Agents List,

Managers List or Brokers List, it shall give the person concerned notice

in writing setting out the reasons for its intention to do so.

(2) Every notice given under subarticle (1) of this article

shall state that the person concerned may, within such reasonable period

after the service thereof as may be stated in the notice (being a period of

not less than forty-eight hours and not longer than fifteen days), make

representations in writing to the competent authority giving reasons

why the registration or enrolment should not be suspended or the name

of the person struck off the Agents Register, Managers Register or

Brokers Register, or the Agents List, Managers List or Brokers List, as

applicable, and the competent authority shall consider any

representations so made before arriving at a final decision.

(3) The competent authority shall notify in writing its final

decision to the person concerned.

(4) On notification by the competent authority to a person

that his or its name has been suspended or has been struck off the Agents

Register, Managers Register or Brokers Register or the Agents List,

Managers List or Brokers List, the intermediary shall forthwith surrender

to the competent authority the certificate of registration or enrolment,

and any official copies thereof< and in each case, the competent authority

may take such other measure as it may deem necessary to safeguard the

interests of insureds, policyholders, creditors or other interested persons.

(5) Where the competent authority has suspended the

registration or enrolment or struck off the name of a person from the

Agents Register, Managers Register or Brokers Register or the Agents

List, Managers List or Brokers List on any of the grounds specified in

article 16 of this Act, it may, if it so elects give publicity to such

suspension or striking off in a manner it deems appropriate.

(6) The competent authority shall have power to order that

all expenses, incurred by it in relation to such publicity, or such part

thereof, as it deems appropriate, shall be paid by the person concerned<

and any sum so due shall be recoverable by the competent authority in

the same manner as an administrative penalty imposed under this Act.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 18 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) Where the name of a person has been struck off the Restoration of a

name struck off the

Agents Register, Managers Register or Brokers Register or the Agents register or list.

List, Managers List or Brokers List, in pursuance of a decision under

article 16 of this Act, the name of that person shall not again be entered

in the register or list unless -

(a)

otherwise ordered by the Tribunal< or

(b) in the absence of such order, the competent authority,

on an application made to it in that behalf, otherwise decides.

(2) The competent authority shall determine an application

for restoration of a name of a person to the Agents Register, Managers

Register, or Brokers Register or the name of an enrolled person to the

Agents List, Managers List or Brokers List under this article within

three months of receiving the information required to be submitted under

this Act as if the application were an application made under article 13

of this Act< and if it refuses to restore a name of an individual or of a

company to the register or list, it shall inform the applicant in writing of

the reasons for the refusal.

(3) Subarticle (2) of this article shall not apply where the

restoration of a name of a person to the Agents Register, Managers

Register, and Brokers Register or the Agents List, Managers List or

Brokers List is made by an order of the Tribunal.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 19 Power of the — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) Without prejudice to the powers conferred to the

competent authority

competent authority under article 16 of this Act, the competent authority

to protect the public

may, where it is satisfied that sufficient serious circumstances exist,

proceed to take one or more of the following measures>

(a) require the intermediary forthwith to take such steps as

the competent authority may consider necessary to rectify or

remedy the circumstances<

(b) appoint a person to advise the intermediary in the proper

conduct of its business<

(c) appoint a person to take charge of the assets of the

intermediary, or any portion of them, for the purposes of

safeguarding the interests of insureds, policyholders, creditors or

other interested persons and, in the case of a local company,

shareholders of the company<

(d) appoint a person to assume control of the business of

the intermediary, either to carry on that business or to carry out

such other function or functions in respect of such business, or

part thereof, as the competent authority may direct<

(e) issue an order for the dissolution and winding up of the

enrolled company or, in the case of a foreign company, for the

winding up of its business in Malta<

(f) appoint a competent person to act as liquidator for the

purpose of winding up the affairs of the enrolled company<

(g) fix the remuneration to be paid by the intermediary to

any person appointed under this article<

(h) require the intermediary to submit a financial recovery

plan if it considers that the interest of insureds, policyholders,

creditors or other interested persons are likely to be prejudiced

owing to a deterioration in the financial position of the intermediary<

(i) require a registered or enrolled person to remove the word

“insurance” as part of his or its description or title and not make

use of such word on any letter paper, in any notice or advertisement,

or in any another similar manner<

(j) do such other act or require the doing of such other thing

as it may deem appropriate in the circumstances,

and having proceeded in any one or more of the manners aforesaid, the

competent authority may further proceed in any one or more of such

manners, whether in addition thereto or in substitution thereof.

(2)

Where a person is appointed by the competent

authority -

(a) under paragraph (b) of subarticle (1) of this article, it

shall be the duty of the intermediary to act in accordance with the

advice given by such person unless and until the competent

authority, on representations made to it, directs otherwise<

(b) under paragraph (c) of subarticle (1) of this article, the

intermediary shall deliver to such person all the assets of which he

is placed in charge, and all the powers, functions and duties of the

intermediary in respect of those assets, and in relation to a company,

whether exercisable by the company in general meeting, or by the

directors, or by any other person, including the legal and judicial

representation of the intermediary, shall be exercisable by and vest

in the person appointed under the said paragraph to the exclusion

of any other person<

(c) under paragraph (d) of subarticle (1) of this article, the

intermediary shall submit the business to the control of such person

and shall provide him with such facilities as he may require the

intermediary to provide him to carry on that business or to carry

out the functions assigned to him under the said paragraph< and all

the powers, functions and duties of the intermediary, and in relation

to a company whether exercisable by the intermediary in general

meeting, or by the directors, or by any other person, including the

legal and judicial representation of the intermediary in all matters,

shall be exercisable by and vest in him to the exclusion of any

other person<

(d) under paragraph (f) subarticle (1) of this article, such

person shall be the liquidator of the intermediary for all purposes

of law to the exclusion of any other person.

(3) In the case of a foreign company, the branches and

offices in Malta of that company shall, if the competent authority so

directs and to the extent it so directs be deemed to constitute a separate

company.

PART V

OBLIGATIONS OF PERSONS ENROLLED UNDER PART III

OF THIS ACT

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 20 Monies held in a fiduciary capacity. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) Every person enrolled under article 13 of this Act shall

keep monies held by him or it in a fiduciary capacity separate from his

or its own monies and shall, in respect of those monies, maintain separate

accounts in accordance with requirements determined by an insurance

intermediaries rule made for the purposes of this article.

(2) No person shall have or obtain any recourse or right

against monies standing to the credit of the account referred to in

subarticle (1) of this article in respect of a claim or right against an

enrolled person until all proper claims arising out of insurance

intermediaries activities against those monies have been satisfied, even

in the event of bankruptcy of the individual or insolvency of the

company, as the case may be.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 21 Fidelity bonds required of insurance intermediaries. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) Without prejudice to article 20 of this Act, every person

enrolled under article 13 of this Act shall effect a fidelity bond in a

specified form, as respects the insurance intermediaries activities carried

on by the intermediary concerned, in such circumstances, to such value,

in such manner and under such conditions as may be determined by an

insurance intermediaries rule made for the purposes of this article.

(2) The bond referred to in subarticle (1) of this article shall

provide that in the event of the inability or failure of the enrolled person

to meet his or its financial obligations in relation to any sums of money

received by him or it from, or on behalf of, his or its clients, a sum of

money will become available to a person nominated or approved by the

competent authority, to be applied for the benefit of any client of the

enrolled person who has incurred loss or liability because of the inability

or failure of the enrolled person to meet such financial obligations.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 22 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

The provisions of articles 20 and 21 of this Act shall not Exemptions

applicable to

apply to a person enrolled as an insurance manager for so long as such insurance managers.

person holds no appointment from any insurer or an insurance broker

for so acting.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 23 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Every enrolled company shall, not later than the end of Notification of

persons registered

January of each year, notify in writing the competent authority in such in the register.

manner as the competent authority may require, the name and the other

particulars as it may also require, of every director and employee of the

company who are registered in the Agents Register, Managers Register

or Brokers Register< and during the following twelve months, the

company shall give notice in writing to the competent authority of any

change that may, from time to time, occur among such directors and

employees and such notice shall be given within such period as may be

specified by an insurance intermediaries rule.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 24 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) Every enrolled company shall, not later than four months Submission of

audited financial

from the date of closing of its financial year, or at any other time as may statements and

exceptionally be authorised in writing by the competent authority, income statements.

forward to the competent authority a copy of its audited financial

statements drawn up -

(a) in the case of a local company, in accordance with the

provisions of the Companies Act< and

(b) in the case of a foreign company, in accordance with

the provisions of the laws of the country where the registered office

or head office of the company is situated governing the financial

statements of such companies.

(2) Every enrolled person who is an individual shall provide

income statements drawn up in a manner as determined by an insurance

intermediaries rule made for the purposes of this article and such

statements shall be forwarded to the competent authority within such

period as may be specified in the rule.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 25 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) Subject to the following subarticles, an enrolled person Submission of

which in any calendar year carries on insurance intermediaries activities business

insurance

shall, in respect of the insurance intermediaries activities so carried on intermediaries

by it, forward to the competent authority a statement relating to that statements.

business made out in the form, manner and content as the competent

authority may, by an insurance intermediaries rule made for the purposes

of this article determine< and the date by which such statement shall be

forwarded shall also be established by that rule.

(2) The statement required to be submitted under this article

shall be verified in the manner required by the insurance intermediaries

rule.

(3) The competent authority may at any time direct an

enrolled person to submit to it such statement at such interval and for

such period as it may specify in such rule.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 26 Enrolled persons ceasing to carry on insurance intermediaries activities. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

An enrolled person shall not cease to carry on, in Malta,

insurance intermediaries activities except with the permission of the

competent authority given in writing on an application made to it in

that behalf in such manner as it may require, and in compliance with

such conditions as it may deem proper to impose.

PART VI

FINANCIAL YEAR AND AUDITORS

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 27 Financial year of insurance intermediaries. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) A company enrolled under article 13 of this Act which

is a local company shall, not later than three months from the date of a

company’s enrolment, notify in writing the competent authority of the

financial year and, failing such notice, the financial year of the enrolled

company shall terminate on the thirty-first day of December of each

year.

(2) No enrolled company as aforesaid shall alter its financial

year unless and until the competent authority has given its approval in

writing on an application made to it in that behalf.

(3) Every foreign company applying for enrolment under

article 13 of this Act shall, on application, notify in writing the competent

authority of its financial year< and after enrolment under that article,

where a foreign company alters its financial year, it shall forthwith

inform in writing the competent authority of such change.

(4) For the purposes of this Act “financial year”-

(a) in relation to an enrolled company which is a local

company, means an accounting period as is construed in accordance

with articles 164 to 166 of the Companies Act<

(b) in relation to an enrolled company which is a foreign

company, means an accounting period as is construed in accordance

with the provisions of the laws of the country where the registered office

or the head office of the company is situated governing the accounting

period of such companies.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 28 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) Every company enrolled under article 13 of this Act Appointment, duties

and termination of

shall each year appoint an approved auditor as auditor to the company appointment of

whose duty shall be to report on the financial statements of the company auditors.

examined by him and on financial statements prepared by the company.

(2) If the enrolled company fails to appoint an auditor as

required by subarticle (1) of this article or at any time fails to fill any

vacancy in the office of an auditor, the competent authority shall have

the power to appoint an auditor for that company and shall fix the

remuneration to be paid by that company to such auditor.

(3) The auditor’s report shall include a statement as to

whether the various requirements of this Act and of any regulations

made thereunder and of any insurance intermediaries rule in respect of

the enrolled company have been complied with and observed.

(4) Every auditor of an enrolled company shall have the

right to demand such information or explanation as he deems necessary

in the performance of his duties from any officer or employee of, or

any person under an appointment from, that company.

(5) An auditor shall immediately give notice in writing to

the competent authority if -

(a)

he resigns<

(b) he does not seek to be re-appointed< or

(c)

he decides to qualify the audit report,

and, in the situations mentioned in paragraphs (a) and (b) of this

subarticle, the auditor shall specify the reasons for so doing.

(6) An enrolled company shall give notice in writing to the

competent authority immediately it receives notice of a resolution

intended to be put before the company’s annual general meeting to

appoint as an auditor a person other than the retiring auditor or otherwise

providing expressly that the retiring auditor shall not be reappointed.

(7) Where, for any reason whatever, the appointment of an

auditor comes to an end, the enrolled company shall, not later than

fourteen days from the termination of such appointment, give notice in

writing to the competent authority stating reasons for such termination.

(8) The competent authority may require an enrolled

company to change its appointed auditor where, in the competent

authority’s opinion, such auditor is considered unfit for this appointment,

at any time during his term of office.

(9) Before requiring an enrolled company to change the

appointed auditor in the circumstances mentioned in subarticle (8) of

this article, the competent authority shall notify in writing its intention

to the company and the auditor concerned stating reasons for requiring

such change and giving the auditor the opportunity to submit, in writing,

within fourteen days from the date of serving of such notice, the reasons

why his appointment with the company should not be terminated.

(10) For the purposes of this Act, an approved auditor shall

be a person who is qualified to be an auditor in accordance with the

Companies Act and holds the authorisation of the competent authority

to act as auditor issued to him under the Insurance Business Act.

(11) Notwithstanding anything contained in the foregoing

subarticles, the competent authority may, in the case of a foreign

company, approve such alternative arrangements as it thinks reasonable

and which do not materially detract from the main objects of this article,

and where such arrangements have been carried out, the provisions of

this article shall not apply to the extent that they are replaced by such

arrangements.

(12) If, in his capacity as auditor of an enrolled company

or due to a direct request by the competent authority under this Act, an

auditor becomes aware of any matter which relates to and may have a

serious adverse effect upon the stability and soundness of the company

or the integrity of the insurance intermediaries activities carried on in

Malta, he shall immediately inform the competent authority through

the intermediary’s management or, if circumstances so warrant, directly

to the competent authority.

(13) For the purposes of subarticle (12) of this article, any

matter which relates to and may have a serious adverse effect is any

matter that>

(a) is likely to lead to a serious qualification or refusal of

the auditor’s report on the accounts of the company< or

(b) gravely impairs the company’s ability to continue as a

going concern or to continue carrying on the activities in respect

of which it is enrolled< or

(c)

may be prescribed by the Minister.

(14) An auditor of an enrolled company shall likewise have

a duty to report to the competent authority any facts and decisions which

relate to or have a serious adverse effect upon the stability and soundness

of the company or the integrity of the insurance intermediaries activities

carried on in Malta, of which he becomes aware in his capacity as an

auditor to an enrolled company having close links within the meaning

of article 10 of this Act.

No duty, including the duty of professional secrecy, to Communication by

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 29 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

auditors etc. with

which -

the competent

authority.

(a) an auditor of a company enrolled under article 13 of

this Act may be subject, shall be regarded as contravened by reason

of his communicating in good faith to the competent authority,

whether or not in response to a request from it, any information or

opinion on a matter of which the auditor has become aware in his

capacity as auditor and which is relevant to any functions of the

competent authority under the provisions of this Act or is required

to be communicated by virtue of this Act<

(b) a person appointed to make a report under any provision

of this Act may be subject, shall be regarded as contravened by

reason of his communicating in good faith to the competent

authority, whether or not in response to a request made by it, on

any matter which relates to the business or affairs of an enrolled

company in relation to which a report is made.

PART VII

PROVISIONS APPLICABLE TO INTERMEDIARIES

CARRYING ON BUSINESS AS INSURANCE BROKERS

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 30 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

A local company enrolled under article 13 of this Act and Appointment of

insurance managers

carrying on business as an insurance broker, restricted to contracts of by enrolled

insurance relating to risks situated outside of Malta, may appoint an insurance brokers.

insurance manager enrolled under the Act to manage such business<

and so long as the insurance manager holds such appointment, the

business of insurance broking shall be under the management of a

registered insurance broker.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 31 Contracts of — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) Subject to the following subarticles, except with the

insurance relating to

approval of the Minister given generally by order in the Gazette, or

with the approval of the competent authority given specifically in

commitments where

writing, a contract of insurance relating to a risk situated in Malta or to

Malta is the country

a commitment where Malta is the country of the commitment negotiated,

arranged or procured by an insurance broker on behalf of an insured

person or a person to be insured shall be taken out with an authorised

company.

(2) Where a contract of insurance is a contract of a general

business class or part class – falling within group 3 of Part II of the

Third Schedule to the Insurance Business Act, and such contract is a

contract relating to a risk situated in Malta and is taken out with a Mutual

Association, which is not a European insurance undertaking, that Mutual

shall have to be a Mutual within the meaning of a “Mutual Association”

as construed in accordance with subarticle (3) of article 6 of the said

Act< and the Mutual shall have to satisfy or comply with the requirements

of the insurance rule made for the purposes of the said article either on

or before the date of commencement of such contract or not later than

thirty days from the date of such commencement.

(3) Save as otherwise provided in subarticle (2) of this

article, the provisions of this article shall not apply to -

(a)

business of reinsurance<

(b) large risks as defined by Article 5 of the Second Council

Directive 88#357#EEC of 22 nd June 1988 on the coordination of

laws, regulations and administrative provisions relating to direct

insurance other than the life assurance and laying down provisions

to facilitate the effective exercise of freedom to provide services

and amends Directive 73#239#EEC.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 32 Underwriting agreements. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) Subject to the following subarticles, any person enrolled

in the Brokers List under article 13 of this Act may make or enter into

any underwriting agreement with any authorised company.

(2) No person enrolled as aforesaid shall make or enter into

any underwriting agreement unless, with respect to that underwriting

agreement, the person complies with or satisfies such requirements as

the competent authority may by an insurance intermediaries rule made

for the purpose of this article determine.

(3) Any person enrolled as aforesaid shall register with the

competent authority any underwriting agreement made or entered into

under this article in the form and manner as the competent authority

may by an insurance intermediaries rule determine.

(4) No business of insurance shall be accepted under an

underwriting agreement unless the underwriting agreement has been

duly registered as aforesaid.

(5) The competent authority shall determine an application

for registration of an underwriting agreement under this article within

one month of receiving the information required to be submitted under

the insurance intermediaries rule< and if it refuses to register the

agreement it shall inform the applicant in writing of the reasons for the

refusal.

(6) Subject to the provisions of this Act, the competent

authority may subject registration of any underwriting agreement made

under this article to such conditions as it may from time to time deem

fit to impose.

(7) For the purposes of this article “underwriting

agreement”, in relation to business of insurance, means an agreement

between an authorised company and a person enrolled in the Brokers

List under article 13 of this Act under which the enrolled person may,

in accordance with the terms thereof, accept risks on behalf of the

authorised company< and, in this context, any other arrangement, by

whatever name it may be called, whose objects and purposes are similar

to an underwriting agreement, for the purposes of this article, is deemed

to be an underwriting agreement.

PART VIII

REGISTRATION AND ENROLMENT OF TIED INSURANCE

INTERMEDIARIES

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 33 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) Subject to subarticle (2) of this article, no person shall Restriction on

persons for carrying

act as a tied insurance intermediary and carry out, or attempt to carry out tied insurance

out in Malta tied insurance intermediaries activities unless such person intermediaries

activities.

is appointed, registered and enrolled in accordance with the provisions

of this Act.

(2) This article shall not apply to a tied insurance

intermediary, which is registered pursuant to Directive 2002#92#EC of

the European Parliament and of the Council of 9 December 2002 on

insurance mediation in a Member State or an EEA State, other than

Malta.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 34 Tied Insurance Intermediaries — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) Subject to article 43 of this Act, every authorised

company desirous of appointing a person to act on its behalf as a tied

Company Registers.

insurance intermediary shall establish and maintain a register of persons

acting as tied insurance intermediaries, in this Act referred to as the

“Tied Insurance Intermediaries Company Register”, containing the

particulars as the competent authority may, from time to time, by an

insurance intermediaries rule made for the purposes of this article,

determine, of all persons who are entitled under this Act to be registered

therein.

(2) Subject to the provisions of subarticle (1) of this article,

every authorised company shall determine its own procedures for

appointing and registering a person as a tied insurance intermediary in

the Tied Insurance Intermediaries Company Register.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 35 Qualifications for registration. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) A person shall be entitled to be registered by an

authorised company in the Tied Insurance Intermediaries Company

Register of the company if the company is satisfied that such person is

fit and proper to carry out tied insurance intermediaries activities.

(2) A person shall not be entitled to carry out tied insurance

intermediaries activities, by virtue of his registration under article 37 of

this Act unless and until he is enrolled by the competent authority in the

Tied Insurance Intermediaries List under that article.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 36 List of persons carrying out tied insurance intermediaries activities. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) The competent authority shall establish and maintain a

list of persons carrying out tied insurance intermediaries activities in

this Act referred to as the “Tied Insurance Intermediaries List”,

containing such particulars as the competent authority may, determine

from time to time by an insurance intermediaries rule made for the

purposes of this article of all persons who are, or which are, entitled

under this article to be enrolled therein.

(2) It shall be the duty of an authorised company to enrol

with the competent authority in the Tied Insurance Intermediaries List

any person registered by it as a tied insurance intermediary in the Tied

Insurance Intermediaries Company Register of the company under article

37 of this Act.

(3) On obtaining from the competent authority a certificate

of enrolment under article 37 of this Act, an authorised company shall

furnish the person, in whose name the certificate of enrolment is made

out, with the certificate or an official copy thereof, issued to the company

by the competent authority.

(4) Where a person enrolled as aforesaid carries out tied

insurance intermediaries activities from a place of business or from any

other place accessible to the public, that person shall display in a

prominent position in that place in a part thereof to which the public

has access, the certificate of enrolment or an official copy thereof issued

by the competent authority under this article.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 37 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) Subject to the provisions of this Act, every authorised Appointment,

registration and

company desirous of appointing a person to act on its behalf as a tied enrolment of tied

insurance intermediary shall, under this article, appoint and register in insurance

intermediaries.

the Tied Insurance Intermediaries Company Register of the company

and enrol with the competent authority in the Tied Insurance

Intermediaries List, any one or more persons to act on its behalf as tied

insurance intermediaries and to carry out tied insurance intermediaries

activities in the class or classes of long term business or the group or

groups of classes of general business specified in their respective

appointments and, where a person is not an individual, such person

must itself have an individual who satisfies the requirements of subarticle

(1) of article 35 of this Act>

Provided that, a company is prohibited from appointing and

registering in the Tied Insurance Intermediaries Company Register of

the company a person which is -

(a) a person registered in the Agents Register, Managers

Register or Brokers Register under article 13 of this Act<

(b) a person enrolled in the Agents List, Managers List or

Brokers List under that article<

(c) a company authorised under the Insurance Business Act

to carry on business of insurance>

Provided further that a company is prohibited from appointing

any person acting on its behalf as a tied insurance intermediary to

carry out any tied insurance intermediaries activities within any

class or group of classes of business of insurance as the competent

authority may, from time to time, by an insurance intermediaries

rule made for the purposes of this article determine to be a class or

group of classes of business within which no tied insurance

intermediaries activities shall be carried out.

(2) Where an authorised company appoints and registers in

the Tied Insurance Intermediaries Company Register of the company a

person which is not an individual, and that person carries out tied

insurance intermediaries activities from any one or more places of

business, that person shall ascertain that tied insurance intermediaries

activities so carried out by it from each such place of business are carried

out only by an individual who satisfies the requirements of subarticle

(1) of article 35 of this Act.

(3) Subject to subarticles (4) and (5) of this article, any

person, other than a person mentioned in the first proviso to subarticle

(1) of this article, may seek and obtain under this article appointment

and registration in a Tied Insurance Intermediaries Company Register

of an authorised company to carry out tied insurance intermediaries

activities on behalf of that company.

(4) Where a person desires to seek appointment and

registration in the Tied Insurance Intermediaries Company Register of

more than one company authorised to carry on long term business, and

where any class of long term business carried on by the companies

concerned is of the same kind, such person shall, in respect of that class

of business, seek and obtain appointment and registration to carry out

tied insurance intermediaries activities relating to that kind of class of

business only in the Tied Insurance Intermediaries Company Register

of one of the companies concerned.

(5) Where a person desires to seek appointment and

registration in the Tied Insurance Intermediaries Company Register of

more than one company authorised to carry on general business, and

where any class, or any group of classes, of general business carried on

by the companies concerned is of the same kind, such person shall, in

respect of that class, or that group of classes of business, seek and obtain

appointment and registration to carry out tied insurance intermediaries

activities relating to that class, or that group of classes of business only

in the Tied Insurance Intermediaries Company Register of one of the

companies concerned.

(6) No person who is an employee of an authorised company

shall, solely by virtue of his employment by the company, require

registration in the Tied Insurance Company Register of the company

under this article.

(7) (a) On granting an application for enrolment under this

article, the competent authority shall issue to the applicant concerned a

certificate of enrolment evidencing enrolment of the person registered

in the Tied Insurance Intermediaries Company Register of the applicant

in the Tied Insurance Intermediaries List.

(b) The competent authority may by means of an

insurance intermediaries rule made for the purposes of this article,

determine the details to be included in the certificate of enrolment.

(8) Subject to the provisions of this Act, the competent

authority may subject enrolment made under this article to such

conditions as it may from time to time deem fit to impose.

(9) An authorised company shall at all times be responsible

for any act or omission of its registered tied insurance intermediaries

provided that such act or omission is an act or omission pertaining to a

contract of insurance issued by the company or offered on its behalf

through the services of such tied insurance intermediaries. For the

purposes of this subarticle any reference to registered tied insurance

intermediaries shall include a reference to past as well as present

registered tied insurance intermediaries.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 38 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) Without prejudice to subarticle (3) of this article, every Maintenance of

separate accounts.

tied insurance intermediary, shall, in respect of monies held by him or

it in relation to a policy of insurance, keep such monies held by him or

it separate from his or its own monies and shall, in respect of those

monies maintain separate accounts in accordance with requirements

determined by an insurance intermediaries rule made for the purposes

of this article.

(2) No person shall have or obtain any recourse or right

against monies standing to the credit of the account referred to in

subarticle (1) of this article in respect of a claim or right against a person

acting as a tied insurance intermediary until all proper claims arising

out of insurance intermediaries activities against those monies have been

satisfied, even in the event of bankruptcy of the individual or insolvency

of the company, as the case may be.

(3) Notwithstanding the provisions of subarticles (1) and

(2) of this article>

(a) monies received by the tied insurance intermediary from

a person in relation to a contract of insurance shall be treated as

having been paid to the company issuing or offering the contract,

and on whose behalf the tied insurance intermediary carries on

tied insurance intermediaries activities< and

(b) monies paid by the authorised company to the tied

insurance intermediary, and intended for the policyholder, shall

not be treated as having been paid to the policyholder until such

monies are actually received by the policyholder concerned.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 39 Striking name off Tied Insurance Intermediaries Company Register. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Subject to the provisions of article 40 of this Act and to the

terms and conditions of any relevant tied insurance intermediaries

appointment at any time and for any reason whatsoever -

(a) any authorised company may strike off the Tied

Insurance Intermediaries Company Register of the company the

name of any person registered in the said register<

(b) any person registered in the Tied Insurance

Intermediaries Company Register of an authorised company may

make an application in writing to the company concerned

requesting the company to strike his name off the said register.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 40 Striking name off Tied Insurance Intermediaries Company Register or the Tied Insurance Intermediaries List. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) Where an authorised company elects to strike the name

of a person off the Tied Insurance Intermediaries Company Register of

the company, the company shall forthwith notify in writing the person

concerned and the competent authority specifying the date on which it

elects to strike the name of that person off the register.

(2) Where an authorised company strikes the name of a

person off the Tied Insurance Intermediaries Company Register of the

company on grounds of unfitness and improperness or because the

person concerned has acted fraudulently, or dishonestly, or in such

manner as to cease to be trustworthy, the company shall also notify in

writing the competent authority the reasons for so doing.

(3) On receiving a notification from an authorised company

that the company has elected to strike the name of a person off the Tied

Insurance Intermediaries Company Register of the company, the

competent authority shall -

(a) if the striking of such name off the register is on grounds

other than those specified in subarticle (2) of this article, as early

as reasonably practicable, confirm in writing to the company

concerned that the name of such person, in so far as it relates to

that company, shall be struck off the Tied Insurance Intermediaries

List as from the date specified in the company’s notification<

(b) if the striking of such name off the register is on grounds

specified in subarticle (2) of this article, before striking the name

of such person off the Tied Insurance Intermediaries List, forthwith,

give the person concerned notice in writing setting out the reasons

for so doing and the provisions of subarticles (2) and (3) of article

17 of this Act shall mutatis mutandis apply to a notice given under

this article.

(4) Without prejudice to any action which the competent

authority may deem appropriate under this Act or any other law, where

the competent authority strikes the name of a person off the Tied

Insurance Intermediaries List on the grounds specified in subarticle (2)

of this article, the competent authority may give publicity to the striking

of that name off the Tied Insurance Intermediaries List and -

(a) if the name of that person is registered in the Tied

Insurance Intermediaries Company Register of any other company,

the competent authority shall also forthwith notify in writing that

other company and direct it to strike forthwith the name of that

person off the Tied Insurance Intermediaries Company Register

of that company and give the company the reasons for its direction<

(b) if the competent authority elects to give publicity to the

striking of that name off the Tied Insurance Intermediaries List,

the competent authority shall publish a notice giving publicity to

that striking off in a manner it deems appropriate.

(5) The competent authority shall have power to order that

all expenses incurred by the publication of a notice pursuant to this

article, or such part thereof as it may deem appropriate, shall be paid by

the person concerned< and any sum so due shall be recoverable by the

competent authority in the same manner as an administrative penalty

imposed under this Act.

(6) Where an authorised company receives in writing an

application from a person registered in the Tied Insurance Intermediaries

Company Register of the company requesting the company to strike

the name of that person off the said register, the company shall without

undue delay strike the name of that person off the said register and

notify in writing the person concerned and the competent authority

specifying the date on which it elects to strike the name of that person

off the register.

(7) Where, on an application made to an authorised company

under subarticle (6) of this article, the company refuses, or unduly

prolongs the process, to strike the name of a person off the Tied Insurance

Intermediaries Company Register of the company, the person concerned

may refer the matter to the competent authority and the competent

authority shall issue in writing to the company concerned those directives

it deems necessary to oblige the company to hasten the process to strike

the name of that person off its register.

(8) On notification by the competent authority to an

authorised company that the name of a person registered in the Tied

Insurance Intermediaries Company Register of the company has been

struck off the Tied Insurance Intermediaries List, the company concerned

shall forthwith surrender to the competent authority the certificate of

enrolment relating to that person, and any official copies thereof.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 41 Protection of the public or other interest. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) Notwithstanding any provision of this Act, the

competent authority may, at any time, on grounds of unfitness and

improperness or of protection of the public interest -

(a) refuse to enrol a person in the Tied Insurance

Intermediaries List<

(b) strike the name of a person off the Tied Insurance

Intermediaries List>

Provided that, in each case, the competent authority shall

inform the company concerned in writing of the reasons for so

doing.

(2) In each case the competent authority may take any other

measure as it may deem necessary to safeguard the interests of insureds,

policyholders, creditors or other interested persons.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 42 Restoration of a name struck off the Tied Insurance Intermediaries List. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Where in pursuance of article 40 of this Act the name of a

person has been struck off the Tied Insurance Intermediaries List -

(a) on grounds contained in subarticle (2) of that article,

the name of that person shall, upon application by an authorised

company, again be enrolled in the Tied Insurance Intermediaries

List only on the order of the Tribunal or on acquittal from an offence

under that subarticle by any court<

(b) on grounds other than those contained in subarticle (2)

of that article, the name of that person may, upon application by

an authorised company, again be enrolled in the Tied Insurance

Intermediary List.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 43 Application of Part VIII of the Act and European insurance undertakings. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) Subject to subarticle (2) of this article, for the purposes

of this Part of this Act, “authorised company” shall not include European

insurance undertakings.

(2) In the case of a European insurance undertaking seeking

to appoint a person resident in Malta or having its registered office or

head office in Malta to carry out tied insurance intermediaries activities,

that undertaking shall enrol such person with the competent authority

as may be determined by an insurance intermediaries rule made for the

purposes of this article and the said rule shall contain the particulars,

conditions and requirements for enrolment.

PART IX

GENERAL PROVISIONS

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 44 in — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) Every person registered or enrolled under this Act, shall Changes

documentation.

notify in writing the competent authority of any material changes in the

documentation provided or required to be provided by or under this Act

and any regulations made thereunder, or any insurance intermediaries

rule, as soon as the registered or enrolled person becomes aware of

such changes.

(2) Without prejudice to article 54 of this Act insofar as it

refers to article 38 of the Insurance Business Act, a person enrolled as a

local company under this Act shall -

(a) before making any addition or alteration to the

memorandum or articles of association or other instrument

constituting the company, submit in writing to the competent

authority particulars of the proposed addition or alteration for its

prior consent< and no such addition or alteration shall be made or

shall be registered, or shall take effect, whether it is registered or

not, unless and until the competent authority has signified its

consent in writing< and

(b) inform the competent authority of the names of the

persons holding a qualifying shareholding in the company and the

percentage of such holdings< and the competent authority may, by

an insurance intermediaries rule made for the purposes of this

article, determine the form, manner and content of the information

to be forwarded to it and the date by which such information shall

be forwarded shall also be established by that rule.

(3) Without prejudice to the foregoing provisions of this

article, a person enrolled under Part III of this Act, shall notify the

competent authority on a continuous basis, with any change or

circumstance which may give rise to the existence of close links within

the meaning of article 10 of this Act.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 45 Co-operation in supervisory duties and sharing of information. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) The competent authority may exercise the following

powers at the request of or for the purposes of assisting an overseas

regulatory authority -

(a) the power to impose, revoke or vary conditions on the

grant of a registration or enrolment pursuant to the provisions of

subarticle (4) of article 13 of this Act<

(b) the power to suspend or strike off the name of a registered

person from the Agents Register, Managers Register or Brokers

Register or of an enrolled person from the Agents List, Managers

List or Brokers List under article 16 of this Act<

(c) the power to strike off the name of a tied insurance

intermediary off the Tied Insurance Intermediaries List enrolled

under article 41 of this Act<

(d) the power to take any action under articles 29, 30, 31 or

31A of the Insurance Business Act, as applicable in accordance

with article 54 of this Act<

(e) the power to communicate to the overseas regulatory

authority information in its possession, whether such information

is the result of any of the above powers or otherwise.

(2) The competent authority shall exercise powers by virtue

of this article>

(a) where the assistance is requested by the overseas

regulatory authority for the purposes of the exercise of one or more

of its regulatory functions< or

(b) where so required within the terms of Malta’s

international commitments< or

(c) where so required within the terms of undertakings

assumed in bilateral or multilateral agreements for the exchange

of information and other forms of collaboration with overseas

regulatory authorities including a request under a memorandum

of understanding concluded with the competent authority.

(3) There shall be meetings held between an authorised

company, an insurance intermediary, an approved auditor and the

competent authority on a bilateral or a multilateral basis as circumstances

may warrant. Such meetings may be called by any of the parties and

shall in each case be chaired by the competent authority.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 46 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) Nothing in this Act shall authorise the competent Confidentiality.

authority to enquire or cause an enquiry to be made in relation to an

enrolled person into the affairs of any individual client of the enrolled

person except for the purpose of ensuring compliance with any of the

provisions of this Act or any other Act.

(2) Subject to the provisions of subarticle (3) of this article,

information obtained by any person for the purposes of, or pursuant to,

any of the provisions of this Act, or of any regulations made thereunder,

or of any insurance intermediaries rule, or in the discharge of any

functions under any of the said provisions, or from an overseas regulatory

authority shall be treated as confidential and protected by the duty of

professional secrecy, and shall not be disclosed to any other person, not

being a person who may lawfully obtain that information for the purposes

of, or pursuant to, the provisions of this Act, or of any regulations made

thereunder or of any insurance intermediaries rule except with the

consent of the person from whom he obtained the information, provided

the information relates solely to that person.

(3) The provisions of subarticle (2) of this article, shall not

preclude the disclosure of information -

(a) with a view to the institution of, or otherwise for the

purposes of, criminal proceedings or of any proceedings by the

competent authority before any court under this Act<

(b) with a view to enabling or assisting the competent

authority in the performance or discharge of any of its functions

under this Act<

(c) which has been made available to the public by virtue

of being disclosed on any circumstances in which, or for any

purposes for which, disclosure is not precluded by this article<

(d) in a summary or collection of information formed in

such a way as not to enable the identity of any person to whom the

information relates to be ascertained<

(e) to an auditor where the competent authority considers

that such disclosure would assist the auditor in the exercise of his

functions under article 28 of this Act<

(f) to the Central Bank of Malta or to the Listing Authority

under the Financial Markets Act, where such information is Cap. 345.

required by the Bank or the Listing Authority in the exercise of

their respective functions in terms of law<

(g) in response to a request from or for the purposes of

assisting, an overseas regulatory authority pursuant to article 45

of this Act<

(h) to such other local or overseas regulatory, judicial or

enforcement authorities where such disclosure is required or

requested for the pursuance of serious regulatory concerns or the

deception, prevention or prosecution of criminal offences<

(i) in civil or commercial proceedings in relation to the

bankruptcy, insolvency or compulsory winding up of an insurance

intermediary provided such information does not concern third

parties involved in attempts to rescue an insurance intermediary,

and to such overseas bodies responsible for the liquidation and

bankruptcy of a person who is registered or holds an equivalent

authorisation or licence from an overseas regulatory authority or

for other similar procedures.

(4) No person, including past and present officers or agents

of an enrolled person, shall disclose any information relating to the

affairs of an enrolled person or of a client of the enrolled person

concerned which he has acquired in the performance of his duties or

the exercise of his functions under this Act except -

(a) when authorised to do so under any of the provisions of

this Act<

(b) for the purpose of the performance of his duties or the

exercise of his functions<

(c) when lawfully required to do so by any court or under a

provision of any law.

(5) In this article, the expression “agents”, in relation to an

enrolled person, means and includes the bankers and the auditor of the

enrolled person.

(6) When an officer or an employee of an enrolled company,

or a person registered or enrolled, or an officer or an employee of such

person, has reason to believe that an activity or a proposed activity

could involve money laundering, he shall act in accordance with

regulations laid down under the Prevention of Money Laundering Act

and any guidelines issued by the competent authority. Compliance with

the provisions of this subarticle shall not constitute a breach of

confidentiality.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 47 to the public — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) The Agents Register, Managers Register and Brokers Access

of the registers and

Register and the Agents List, Managers List, Brokers List, and Tied the lists.

Insurance Intermediaries List shall be accessible to the public, free of

charge, at the offices of the competent authority at all times during the

normal working hours of the competent authority.

(2) Any person may, upon payment of such fee as may be

prescribed, obtain from the competent authority extracts from the Agents

Register, Managers Register or Brokers Register and the Agents List,

Managers List or Brokers List, and the Tied Insurance Intermediaries

List and official copies of certificates of registration or enrolment.

(3) The Tied Insurance Intermediaries Company Register

of any local company authorised under the Insurance Business Act shall

be open to public inspection, free of charge, at the principal office of

the company concerned during the normal working hours of the

company.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 48 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) Subject to the following provisions of this article, save Use of the word

“insurance”.

with the written permission of the competent authority, no person other

than -

(a) a person registered in the Agents Register, Managers

Register or Brokers Register under article 13< or

(b) a person enrolled in the Agents List, Managers List or

Brokers List under that article< or

(c) a person enrolled in the Tied Insurance Intermediaries

List under article 36< or

(d) a company authorised under the Insurance Business Act<

or

(e) a person who holds insurance qualifications of an

institute of repute recognised for such purpose by the competent

authority< or

(f) an institute of repute which provides instruction in

insurance business studies and is recognised as such by the

competent authority< or

(g) a person prescribed by regulations under this Act,

shall use the word “insurance” as part of his or its description or title or

make any such use on any letter paper, in any notice or advertisement,

or in any other similar manner.

(2) Any foreign company enrolled or authorised as aforesaid

may use the name used in its country of registration, incorporation or

constitution save that, where there is a risk that the use of such name

may be misleading, such company shall add such explanatory particulars

to its name as the competent authority shall direct.

(3) The competent authority may, by an insurance

intermediaries rule made for the purpose of this article, determine the

qualifications or experience for carrying on insurance intermediaries

activities which are required of persons, other than persons referred to

in the foregoing subarticles of this article, who, on application to the

competent authority, may be permitted under this article to use the word

“insurance” as part of their description or title.

(4) For the purposes of this article, the expression

“insurance” includes reinsurance, assurance and reassurance and any

of their derivatives or other words as may indicate or purport to indicate

the carrying on of business of insurance or the carrying out of insurance

intermediaries activities or the carrying on of such business or the

carrying out of such activities in any language in the description or title

under which a person is carrying on such business or carrying out such

activities.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 49 Service of notices, etc. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

A notice or other document to be given or served under

this Act and any regulations made thereunder shall be deemed to have

been duly given or served on a person if -

(a)

it has been delivered to him< or

(b) it has been left at the address furnished by him to the

competent authority, or at his last known address< or

(c) it has been sent to him by post or by telefax at any of the

aforesaid addresses< or

(d) in the case of a commercial partnership registered in

Malta, it has been delivered, sent by post or by telefax, or left at

the registered office, or at the last known registered office, of that

commercial partnership< or

(e) in the case of any other body of persons, whether

corporate or unincorporate, it has been given or served in any of

the manners aforesaid to or on a director, an officer, a clerk or the

representative of that body.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 50 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) (a) For the purposes of any appeal made to the Appeals.

Tribunal under this Act, the provisions of the proviso to subarticle (1)

of article 57 of the Insurance Business Act shall apply.

(b) For the purposes of any such appeal, the provisions

of article 21 of the Malta Financial Services Authority Act shall also

apply.

(2) Subject to the provisions of this article, any person who,

or any company which, is aggrieved by a decision of the competent

authority -

(a) to refuse to register or to enrol an applicant under article

13 or 41 of this Act<

(b) to impose any condition on, or subsequent to, registration

and enrolment under article 13 or 37 of this Act<

(c) to suspend or strike the name of a person off the Agents

Register, Managers Register or Brokers Register or the name of

an enrolled person off the Agents List, Managers List or Brokers

List under article 16 of this Act<

(d) to refuse to restore the name of a person to the Agents

Register, Managers Register or Brokers Register or the name of

an enrolled person to the Agents List, Managers List or Brokers

List under subarticle (2) of article 18 of this Act<

(e) to refuse to register an underwriting agreement under

article 32 of this Act<

(f) to strike the name of a person off the Tied Insurance

Intermediaries List under paragraph (b) of subarticle (3) of article

40 of this Act<

(g) to require a company authorised under the Insurance

Business Act to strike the name of a person off the Tied Insurance

Intermediaries Company Register of a company under article 41

of this Act<

(h) to impose an administrative penalty in respect of

infringements as may be prescribed under article 3 of this Act,

may appeal against the decision to the Tribunal which shall have

exclusive competence to hear appeals on the matters listed in this

subarticle.

(3) An appeal under this article shall lie only on any of the

following grounds -

(a) that the competent authority has wrongly applied any of

the provisions of this Act< or

(b) that the decision of the competent authority constitutes

an abuse of discretion or is manifestly unfair, provided that the

discretion of the competent authority may not, so long as it has

been exercised properly, be queried by the Tribunal.

(4) An appeal made under this article shall not suspend the

operation of any decision from which the appeal is made except in the

case of an appeal from a decision as is mentioned in paragraph (h) of

subarticle (2) of this article>

Provided that, a decision to strike the name of a person off

the Agents Register, Managers Register or Brokers Register or Agents

List, Managers List or Brokers List shall not become operative until the

expiration of the period within which an appeal may be made under

this article and, if an appeal is made within such period, the decision

shall become operative on the date of the decision of the Tribunal

dismissing the appeal or the date in which the appeal is abandoned.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 51 Exclusion of liability. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

The competent authority and any member, officer or

employee of the competent authority, and any other person appointed

to perform a function under this Act and any regulations made thereunder

shall not be liable in damages for anything done or omitted to be done

in the discharge or purported discharge of any functions under this Act

and any regulations aforesaid, unless the act or omission is shown to

have been done or omitted to be done, as the case may be, in bad faith.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 52 Offences. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) Any person -

(a) who for the purpose of obtaining the registration or

enrolment under this Act or any regulations made thereunder

furnishes information or makes a statement or a declaration which

the person knows to be inaccurate, false or misleading in any

material particular, or recklessly furnishes information or makes a

statement or a declaration which is inaccurate, false or misleading

in any material particular< or

(b) who contravenes or fails to comply with any of the

provisions of this Act or of article 29, 30, 31A or 38 of the Insurance

Business Act, as applicable in accordance with article 54 of this

Act<

(c) who contravenes or fails to comply with any regulations

made under this Act, other than regulations in relation to which

administrative penalties have been prescribed under paragraph (h)

of subarticle (2) of article 3 of this Act<

(d) who contravenes or fails to comply with any insurance

intermediaries rule or registration or enrolment condition<

(e) who fails to comply with any lawful order or requirement

of the competent authority<

(f) who fails to comply with any lawful order or requirement

of any other person made under this Act and any regulations made

thereunder<

(g) who without any reasonable excuse alters, suppresses,

conceals, destroys or refuses to produce any document which is

lawfully required to be produced by any person under this Act and

any regulations made thereunder< or

(h) who intentionally obstructs a person exercising rights

conferred by this Act or any regulations made thereunder,

shall be guilty of an offence.

(2) Any person who is knowingly a party to, or procures or

aids and abets the commission of any offence under subarticle (1) of

this article shall be guilty of an offence and shall be liable to the same

penalties as the principal offender.

(3) The Minister shall make regulations under this article

prescribing penalties for offences against this Act, and such regulations

may prescribe -

(a) penalties which are enforceable by prosecution in the

courts of Malta<

(b) different penalties for contraventions of different

provisions of this Act<

(c) penalties calculated in accordance with the duration of

the commission of the offence,

unless such penalties are otherwise imposed under article 3 of this Act.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 53 Penalties. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) The penalties prescribed by regulations made under 52

of this Act -

(a) in the case of imprisonment, shall not provide for a

sentence of imprisonment greater than two years<

(b) in the case of a fine imposed after a prosecution in the

courts of Malta, shall not provide for a fine (multa) of less than

one hundred Maltese liri or greater than fifty thousand Maltese

liri<

(c) in the case of a continuing offence, shall not provide for

a fine (multa) of less than fifty Maltese liri or greater than one

hundred Maltese liri for each day during which the offence

continues.

(2) No proceedings for an offence under this Act or any

regulations made thereunder other than an infringement to which

paragraph (h) of subarticle (2) of article 3 applies, shall be commenced

without the consent of the Attorney General.

(3) The provisions of this Act shall not affect any criminal

proceedings that may be competent under any other law.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 54 Application of certain articles of the Insurance Business Act to insurance intermediaries. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) Subject to the provisions of subarticle (2) of this article>

(a) the provisions of articles 29 to 31A and of article 38 of

the Insurance Business Act (hereinafter in this article referred to

as the “the Act”) shall apply to an enrolled person, as if reference

in such provisions -

(i) to “authorisation” were a reference to “enrolment”

in the Agents List, Managers List or Brokers List”<

(ii) to “an authorised company” were a reference to

“an enrolled person”<

(iii) to “business of insurance” were a reference to

“insurance intermediaries activities”<

(iv) to “a company whose head office is in a country

outside Malta” were a reference to “a foreign company”<

(b) articles 29 to 31A of the Act shall apply to a person

enrolled in the Tied Insurance Intermediaries List as if reference

in such provisions -

(i) to “authorisation” were a reference to “enrolment

in the Tied Insurance Intermediaries List”<

(ii) to “an authorised company” were a reference to “a

tied insurance intermediary”<

(iii) to “business of insurance” were a reference to “tied

insurance intermediaries activities”.

(2) Subarticle (1) of this article shall apply to an enrolled

person as if reference in the relevant provisions of the Act to “the

competent authority” were a reference to “the competent authority”

under this Act, and references to “insurance rules” were references to

“insurance intermediaries rules”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 55 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) Saving the provisions of the following subarticles of Repeals

andSavings.

this Act, the Insurance Brokers and Other Intermediaries Act is hereby Cap. 404.

repealed.

(2) Every licence issued or other action whatever taken or

commenced under the Insurance Business Act, in so far as insurance

agents and insurance managers are concerned, or under the Insurance

Brokers and Other Intermediaries Act, shall continue in force and to be

valid as if such licence were issued or as if such other action were taken

or commenced under this Act.

(3) Any person or company licensed under the Insurance

Business Act to act as an insurance agent or as an insurance manager

within the meaning of that Act or licensed under the Insurance Brokers

and Other Intermediaries Act to act as an insurance broker or insurance

sub-agent within the meaning of that latter Act shall, not later than the

appointed date, conform with the provisions of this Act or otherwise

cease to act as an insurance intermediary, and shall until the appointed

date or until it conforms with the provisions of this Act, whichever is

earlier, continue to be governed by the provisions of the Insurance

Business Act or the Insurance Brokers and Other Intermediaries Act, as

the case may be. For the purpose of this subarticle “appointed date”

means a day being six months after the date of the coming into force of

this Act.

(4) Where a company ceases to act as an insurance agent,

insurance manager or insurance broker on the grounds that such company

did not, on the appointed date, conform with the provisions of this Act,

that company shall be deemed to have made an application to the

competent authority under article 26 of this Act on the appointed date

to cease to carry on insurance intermediaries activities on that date and

to have been given permission by the competent authority under that

article on the appointed date to cease to carry on such business on that

date and to run-off that business as from that date. The competent

authority may impose such conditions with regard to the run-off of that

business as it may deem proper.

(5) Where a person concerned ceases to act as a registered

insurance broker on the grounds that such person did not, on the

appointed date, conform with the provisions of this Act –

(a) that person shall be deemed to have made a request to

the competent authority under paragraph (e) of article 16 of this

Act on the appointed date requesting the competent authority to

strike his name off the said register on that date<

(b) the competent authority shall be deemed to have struck

the name of that person off the Brokers Register on that date, and,

also on that date, notified that person that his name has been struck

off the Brokers Register< and the person, following the appointed

date, shall forthwith surrender to the competent authority the

certificate of registration, and any official copies thereof.

(6) Where a person ceases to act as an insurance sub-agent

on the grounds that such person did not, on the appointed date, conform

with the provisions of this Act -

(a) that person shall be deemed to have made an application

to the authorised company, in whose Tied Insurance Intermediaries

Company Register of the company his name is registered, under

paragraph (b) of article 39 of this Act, on the appointed date,

requesting the company to strike his name off the said register on

that date<

(b) the authorised company concerned shall be deemed to

have struck the name of that person off the Tied Insurance

Intermediaries Register of the company on that date, and, also on

that date, notified that person and the competent authority

accordingly, under subarticle (6) of article 40 of this Act<

(c) the competent authority shall be deemed to have struck

the name of that person off the Tied Insurance Intermediaries List

on that date, and, also on that date, notified the company concerned

accordingly, under paragraph (a) of subarticle (3) of article 40 of

this Act< and the authorised company concerned shall forthwith,

following the appointed date, surrender to the competent authority

the certificate of enrolment relating to that person and any official

copies thereof.

(7) Without prejudice to the provisions of article 12 of the

Interpretation Act -

(a) all regulations, insurance directives, insurance

intermediaries directives, orders and other instruments which were

kept into force by, or made under, the Insurance Business Act, in

so far as insurance agents and insurance managers are concerned,

and the Insurance Brokers and Other Intermediaries Act< and

(b) any agreements and arrangements which were made in

virtue of the Insurance Business Act, in so far as insurance agents

and insurance managers are concerned, and the Insurance Brokers

and Other Intermediaries Act, or made in virtue of any regulation,

insurance directive, insurance intermediaries directive, order and

other instrument,

shall, if and as in force immediately before the commencement of this

article, be deemed to have been made under or in virtue of this Act and

shall continue in force and may be amended, altered, repealed or

otherwise dealt with accordingly.

(8) All references in any enactment and in any instrument

or other document issued pursuant to the Insurance Business Act, in so

far as insurance agents and insurance managers are concerned, or to the

Insurance Brokers and Other Intermediaries Act, or to any provision

thereof, shall, in so far as applicable, be read and construed as a reference

to this Act or to the corresponding provision thereof.

(9) Any reference to an insurance intermediaries directive

issued by the competent authority in virtue of subarticle (3) of article 4

of the Insurance Brokers and Other Intermediaries Act in any licence,

notice, decision or other act made or taken by the competent authority

before the coming into force of the provisions of this Act, and any

reference in any law to an insurance intermediaries directive shall be

deemed to be a reference to an insurance intermediaries rule.

(10) For the purpose of this article, “licence” includes

authority or authorisation, permit, approval, registration, enrolment and

appointment, and the word “licensed” shall be construed accordingly.

PART X

AMENDMENT OF THE MALTA FINANCIAL SERVICES

AUTHORITY ACT, CAP. 330

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 56 Amends the Malta Financial Services Authority Act, Cap. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) This Part amends and shall be read and construed as

one with the Malta Financial Services Authority Act, hereinafter in this

Part referred to as “the principal Act”.

330. (2) The provisions of this Part shall come into force on such

date as the Minister responsible for finance may, by notice in the Gazette,

establish.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 57 Amendment of article 16 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Immediately after sub-article (3) of article 16 of the principal

Act there shall be inserted the following new subarticles>

“(4) The right of the Authority to obtain information from

a person who holds or has held a licence or other authorization, or

from any of the officials or employees of such person, shall not be

restricted, obstructed or precluded in any manner. Any gagging or

similar confidentiality obligation or other restrictive condition

arising from the legal or contractual relationship between such

person and his officials or employees shall be, in so far as it is

contrary to these provisions and impedes or restricts the right of

the Authority to receive information required in the pursuance of

its regulatory functions and duties arising under this or any other

Act, null and void.

(5) In furtherance of the provisions of subarticle (4), the

following rules shall apply>

(a) any person who holds or has formerly held a license

or other authorization from the Authority, and the officials

and employees thereof shall, upon a written request by the

Authority, promptly provide the Authority with any

information that it may require as provided in subarticle (4),

and may not raise any contractual gagging restriction or similar

prohibition or other confidentiality obligation arising or

alleged to arise under contract law or otherwise refuse to

comply with such a request of the Authority<

(b) no action for breach of contract and no disciplinary

measure may be taken, directly or indirectly, by a person

against any of its officials or employees for providing the

Authority with any information required by the Authority as

provided in subarticle (4)< and any contractual or disciplinary

measure contrary to this provision shall be null and void<

(c)

for the purposes of this article>

(i) “information” shall include explanations and

other forms of assistance< and

(ii) “employees” and “officials” shall include

former employees and officials.”.

PART XI

AMENDMENTS OF THE TRUSTS AND TRUSTEES ACT,

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 58 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) This Part amends and shall be read and construed as one Amendments of the

with the Trusts and Trustees Act, hereinafter in this Part referred to as Trusts

Act, Cap. 331

“the principal Act”.

(2) The provisions of this Part shall come into force on such

date as the Minister responsible for finance may, by notice in the Gazette,

establish and different dates may be so established for different

provisions and different purposes thereof.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 59 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

In subarticle (2) of article 12 of the principal Act, for the Amendment of

article 12 of the

words “for a charitable purpose or to a unit trust” there shall be principal Act.

substituted the words “for a charitable purpose, to a unit trust or to a

retirement scheme registered in terms of the Special Funds (Regulation)

Act and set up as a trust”.

Amendment of

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 60 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Article 43 of the principal Act shall be amended as follows>

article 43 of the

principal Act.

(a) immediately after paragraph (b) of subarticle (6) thereof,

there shall be inserted the following new paragraph (c)>

“(c) A person registered in terms of the Special Funds

(Regulation) Act to act as a trustee to retirement schemes

shall not require further authorisation in terms of this Act

provided that such trustee services are limited to retirement

schemes.”<

(b) in paragraph (i) of subarticle (8) thereof, for the words

“they are licensed< or” there shall be substituted the words “they

are licensed<”<

(c) in paragraph (ii) of subarticle (8) thereof, for the words

“approved jurisdiction>” there shall be substituted the words

“approved jurisdiction< or”<

(d) immediately after paragraph (ii) of subarticle (8), there

shall be inserted the following new paragraph (iii)>

“(iii) a person registered under the Special Funds

(Regulation) Act as a retirement scheme administrator>”< and

(e) in paragraph (a) of subarticle (9), for the words “subarticle

(6)(a) and (7)(e), (g) and (h)” there shall be substituted the words

“ (6)(a) and (c) and (7)(e), (g) and (h)”.

PART XII

AMENDMENT OF THE INVESTMENT SERVICES ACT,

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 61 Amendment of the — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) This Part amends and shall be read and construed as

Investment Services

one with the Investment Services Act, hereinafter in this Part referred

to as “the principal Act”.

(2) The provisions of this Part shall come into force on such

date as the Minister responsible for finance may, by notice in the Gazette,

establish.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 62 Amendment of article 12 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

In paragraph (b) of subarticle (1) of article 12 of the principal

Act, for the words “thereto, providing for any matter he may deem

expedient including the creation and exercise of rights by or for the

benefit of the public and the imposition of duties and obligations on the

holders of a licence or persons responsible for the management or

administration thereof<” there shall be substituted the words “thereto<

providing for any matter he may deem expedient including the creation

and exercise of rights by or for the benefit of the public, the imposition

of duties and obligations on the holders of a licence or persons

responsible for the management or administration thereof and the

regulation of any fees and, or any other charges imposed directly or

indirectly on investors<”.

Paragraph (h) of subarticle (2) of article 19 thereof shall be

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 63 Amendment of article 19 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

deleted.

Article 25 of the principal Act shall be amended as Amendment

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 64 of — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

article 25 of the

principal Act.

(a) subarticles (2), (3), (4) and (5) thereof shall be deleted<

and

(b) subarticle (6) thereof shall be re-numbered as subarticle

(2).

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 65 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Article 26 of the principal Act shall be substituted by the Amendment of

article 26 of the

following>

principal Act.

“26. (1) Information obtained by the competent authority

or by its officers, employees or agents for the purposes of, or

pursuant to, any of the provisions of this Act, or of any rules or

regulations made thereunder, or in the discharge of any functions

under any of the said provisions, shall be treated as confidential

and protected by the duty of professional secrecy, and shall not be

disclosed to any other person, except in the following cases>

(a) where the disclosure is required for the detection,

prevention or prosecution of criminal offences under the

criminal provisions of this Act or any other Act<

(b) where the information is disclosed with a view to

the institution of, or otherwise for the purposes of any

proceedings by the competent authority before any court under

this Act<

(c) where the information is disclosed in civil or

commercial proceedings in relation to the bankruptcy or

dissolution and consequential winding up by the Court of a

licence holder, provided such information does not concern

third parties and is necessary for the carrying out of the

proceedings, or is disclosed to an overseas body responsible

for the liquidation and bankruptcy of a person holding a

licence or an equivalent authorisation from an overseas

regulatory authority<

(d) where a summary or collection of the information

is prepared or supplied in such a way as not to enable the

identity of any persons to whom the information relates to be

ascertained<

(e) where the information is disclosed to an auditor

where such disclosure would assist him in the exercise of his

functions under article 18<

(f) where the information is provided to the Central

Bank of Malta or to the Listing Authority under the Financial

Markets Act in the exercise of their respective functions in

terms of law< and

(g) where the information is provided to such other

local or overseas regulatory, judicial or enforcement

authorities in the pursuance of serious concerns of a regulatory

or criminal nature.

(2) Subject to the provisions of article 17, information

obtained from an overseas regulatory authority may only be disclosed

to another person, to another overseas regulatory authority or to any

other third party with the prior approval of the authority which had

provided the information.”.

PART XIII

AMENDMENT OF THE FINANCIAL INSTITUTIONS ACT,

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 66 Amendment of the Financial Institutions Act, — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) This Part amends and shall be read and construed as

one with the Financial Institutions Act, hereinafter in this Part referred

to as “the principal Act”.

(2) The provisions of this Part shall come into force on such

date as the Minister responsible for finance may, by notice in the Gazette,

establish.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 67 Amendment of article 2 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Article 2 of the principal Act shall be amended as follows>

(a) in subarticle (1) thereof, for the definition “competent

authority”, there shall be substituted the following new definition>

“ “the competent authority” means the body referred to

in article 12(1)<”< and

(b) subarticle (2) thereof shall be repealed and subarticle

(1) thereof shall be renumbered as the whole article 2.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 68 Amendment of article 3 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Article 3 of the principal Act shall be amended as follows>

(a) subarticles (2) and (3) thereof shall be renumbered as

subarticles (3) and (4) respectively< and

(b) immediately after subarticle (1) thereof, there shall be

inserted the following new subarticle (2)>

“(2) Subject to the provisions of subarticle (3), a person

shall not be deemed to be a financial institution by reason of

the fact that the person either>

(a) belongs to a group of companies and provides

any of the activities listed in the Schedule to this Act to

companies which are not banks or financial institutions

and which belong to the same group of companies< or

(b) draws and issues trade bills in the normal

course of business under hire purchase agreements, or

under sales on credit where trade bills are drawn in

respect of the price due.”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 69 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

For sub-article (3) of article 9 of the principal Act, there shall Amendment of

article 9 of the

be substituted the following>

principal Act.

“(3) Subarticle (1) shall apply whether or not any of the

relevant shares are shares listed on a recognised investment

exchange in terms of the Financial Markets Act.”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 70 of — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

For paragraph (a) of article 21 of the principal Act there shall Amendment

article 21 of the

be substituted the following>

principal Act.

“ (a)

under article 3(3)<”.

PART XIV

AMENDMENT OF THE COMPANIES ACT, CAP. 386

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 71 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) This Part amends and shall be read and construed as Amendment of the

Companies Act,

one with the Companies Act, hereinafter in this Part referred to as “the Cap. 386.

principal Act”.

(2) The provisions of this Part shall come into force on such

date as the Minister responsible for finance may, by notice in the Gazette,

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 72 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

In the second part of the “ARRANGEMENT OF ACT” Amendment of

“Arrangement of

appearing before the principal Act, entitled “SCHEDULES”, for the Act”.

words from “Tenth Schedule” to the words “Table of Concordance”,

there shall be substituted the following>

“Tenth Schedule

Partnerships ‘en commandite’ or

limited partnerships

Eleventh Schedule

Penalties

Twelfth Schedule

Table of Concordance”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 73 Amendment of article 428 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

In sub-article 15 of article 428 of the principal Act, for the

words “ – in the case of a company, any resolution, notice or return

required to be delivered to the Registrar in terms of the provisions of

Title II of Part V and of articles 122, 146, 183 and 184< and”, there shall

be substituted the words “- in the case of a company, any resolution,

notice or return required to be registered under this Act, other than any

resolution , notice, return or other document required to be delivered to

the Registrar in terms of the provisions of Title II of Part V and of

articles 122, 146, 183 and 184 of this Act< and”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 74 Amendment of the Tenth Schedule to the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Paragraph 25 of the Tenth Schedule to the principal Act shall

be amended as follows>

(a) in indent (m) of sub-paragraph (8) thereof, for the words

“and in the event that such assets are insufficient to discharge the

liabilities so incurred, the creditors in respect thereof shall have no

claim or right of action against the other assets of the partnership,

and the provisions of any law or regulation in force regulating the

insolvency of partnerships shall not apply.”, there shall be

substituted the words “and the creditors in respect thereof shall

have no claim or right of action against the other assets of the

partnership, and the following rules shall apply>

(i) proceedings in relation to the partnership shall

respect the legal status of each sub-class as a patrimony

separate from the assets and liabilities of each other sub-class

of the partnership in terms of this Schedule< and

(ii) proceedings under the Act shall apply mutatis

mutandis to the sub-class as though it were a distinct legal

entity and with such modifications as are necessary to

accommodate the fact that the sub-class is not a partnership<

and any proceedings in relation to one sub-class shall not have

any effect on the assets of any other sub-class of the

partnership or the partnership itself.

“Proceedings” in indent (m) of this sub-paragraph refers to

any proceedings in terms of paragraphs 20 to 24 of this Schedule

and Part VI of the Act.”< and

(b) sub-paragraphs (n), (o) and (p) of sub-paragraph (8)

thereof shall be renumbered as sub-paragraphs (o), (p) and (q)

respectively, and immediately after sub-paragraph (m) thereof,

there shall be inserted the following new sub-paragraph (n)>

“(n) When a partnership en commandite or a limited

partnership is established as an umbrella or multi-class

partnership and elects to have the assets and liabilities of its

sub-classes treated as distinct patrimonies, the memorandum

shall provide that the actual value of the paid up share capital

of any sub-class shall be at all times equal to the value of the

assets of any kind of the particular sub-class after the deduction

of such sub-classes’ liabilities and this in lieu of what is stated

in paragraph (i) of sub-paragraph (c) of sub-article (2) of article

84 of the Act.”.

PART XV

AMENDMENT OF THE INSURANCE BUSINESS ACT,

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Art. 75 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) This Part amends the Insurance Business Act and shall Amendment of the

Insurance Business

be read and construed as one with the Insurance Business Act, hereinafter Act, Cap. 403.

in this Part referred to as “the principal Act”.

(2) The provisions of this Part shall come into force on such

date as the Minister responsible for finance, may by notice in the Gazette

establish, and different dates may be so established for different

provisions or different purposes of this Part.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 76 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Article 2 of the principal Act shall be amended as follows>

Amendment of

article 2 of the

principal Act.

(a) in the marginal note thereof, for the word “Interpretation”

there shall be substituted the words “Interpretation and scope”.

(b) in subarticle (1) thereof>

(i) immediately after the definition “business of

insurance” there shall be added the following new definition>

“ “cell” has the same meaning as is assigned to it

by the Companies Act<”<

(ii) immediately after the definition “cell”, there shall

be added the following new definition>

“ “cell company” has the same meaning as is

assigned to it by the Companies Act<”<

(iii) for the definition of “company whose head office

is in a country outside Malta” there shall be substituted the

following>

“ “company whose head office is in a country

outside Malta” means a company, other than a European

insurance undertaking, registered, incorporated or

constituted outside Malta under the laws of any country

provided that such company has complied with the

provisions of any law which may from time to time be

in force in Malta relating thereto<”<

(iv) in the definition “competent authority”, for the

words “established under article 3(2)”, there shall be

substituted the words “established under article 3”<

(v) immediately after the definition “director” there

shall be added the following new definition>

“EEA State” means a State which is a contracting

party to the agreement on the European Economic Area

signed at Oporto on 2 May, 1992 as amended by the

Protocol signed at Brussels on the 17 th March, 1993 and

as amended from time to time<

(vi) immediately after the definition “establishment”

there shall be added the following new definition>

“ “European insurance undertaking” means an

undertaking having its head office in a Member State or

an EEA State other than Malta, pursuing the activity of

direct insurance within the meaning of article 1 of First

Council Directive 73#239#EEC of 24 July 1973 on the

coordination of laws, Regulations and administrative

provisions relating to the taking-up and pursuit of direct

insurance other than life assurance or article 2 of

Directive 2002#83#EC of the European Parliament and

of the Council of 5 November 2002 concerning life

assurance, which has received authorisation under article

6 and article 4 of the said Directives respectively<”<

(vii) for the definition “insurance agent”, there shall

be substituted the following>

“ “insurance agent” has the same meaning as is

assigned to it by the Insurance Intermediaries Act,

2006<”<

(viii) the definition of “insurance directive” shall be

deleted<

(ix) for the definition “insurance manager”, there shall

be substituted the following>

“ “insurance manager” has the same meaning as is

assigned to it by the Insurance Intermediaries Act,

2006<”<

(x) immediately after the definition of “insurance

manager” there shall be added the following new definition>

“ “insurance rule” means a rule in respect of the

business of insurance which shall be binding on

authorised companies and others as may be specified

therein, issued by the competent authority in virtue of

article 4(3) of this Act<”<

(xi) for the definition of “Malta’s international

commitments” there shall be substituted the following>

“ “Malta’s international commitments” means

Malta’s commitments, responsibilities and obligations

arising out of its membership of, or accession to the

European Union, or membership of, or affiliation to, or

relationship with, any international, global or regional

organisations or grouping of countries or out of any

treaty, convention or other international agreement,

however called, whether bilateral or multilateral, to

which Malta is a party<”<

(xii) immediately after the definition “margin of

solvency” there shall be added the following new definition>

“ “Member State” means a Member State of the

European Communities<

(xiii) in the definition “own funds”, for the words “in

accordance with an insurance directive”, there shall be

substituted the words “in accordance with an insurance rule”<

(xiv) in the definition “prescribed”, for the words

“prescribed by rules or regulations”, there shall be substituted

the words “prescribed by regulations”<

(xv) the definition of “recognised insurance body”

shall be deleted<

(xvi) immediately after the definition of

“reconstruction” there shall be added the following new

definition>

“reinsurance” means the activity consisting in

accepting risks ceded by an insurance undertaking or by

another reinsurance undertaking<

(xvii) in the definition “risk situated in Malta”, in

paragraph (b) thereof, there shall be added the following

proviso>

“Provided that, where a vehicle is dispatched from

a Member State or an EEA State into Malta, the risk is

deemed to be situated in Malta, immediately upon

acceptance of delivery by the purchaser for a period of

thirty days, even though the vehicle has not been formally

registered in Malta<”< and

(xviii) in the definition “technical provisions”, for the

words “in accordance with article 17(1) to (6)”, there shall be

substituted “in accordance with article 17(1) to (5)”<

(c) subarticle (2) thereof shall be substituted by the

following>

(2) The objective of this Act is, in part, to implement

the provisions of>

(a) First Council Directive of 24 July 1973 on the

coordination of laws, Regulations and administrative

provisions relating to the taking-up and pursuit of direct

insurance other than life assurance (73#239#EEC)<

(b) Second Council Directive of 22 June 1988 on

the coordination of laws, regulations and administrative

provisions relating to direct insurance other than life

assurance and laying down provisions to facilitate the

effective exercise of freedom to provide services and

amending Directive 73#239#EEC (88#357#EEC)<

(c) Council Directive 92#49#EEC of 18 June 1992

on the coordination of laws, regulations and

administrative provisions relating to direct insurance

other than life assurance and amending Directives

73#239#EEC and 88#357#EEC (third non-life insurance

Directive)<

(d) Directive 2002#12#EC of the European

Parliament and of the Council of 5 March 2002 amending

Council Directive 79#267#EEC as regards the solvency

margin requirements for life assurance undertakings<

(e) Directive 2002#13#EC of the European

Parliament and of the Council of 5 March 2002 amending

Council Directive 73#239#EEC as regards the solvency

margin requirements for non-life insurance undertakings<

(f) Directive 2002#83#EC of the European

Parliament and of the Council of 5 November 2002

concerning life assurance<

(g) Directive 2005#14#EC of the European

Parliament and of the Council of 11 May 2005 amending

Council Directives 72#166#EEC, 84#5#EEC, 88#357#EEC

and 90#232#EEC and Directive 2000#26#EC of the

European Parliament and of the Council relating to

insurance against civil liability in respect of the use of

motor vehicles<

(h) Directive 2005#68#EC of the European

Parliament and of the Council of 16 November 2005 on

reinsurance and amending Council Directives

73#239#EEC, 92#49#EEC as well as Directives 98#78#EC

and 2002#83#EC< and

(i) any other Directive of the European Parliament

and of the Council that may be issued from time to time

relating to the regulation of and the prudential

requirements applicable to insurance companies,

which shall be interpreted and applied accordingly.”< and

(d) in subarticle (3) thereof, for the words “in any rules or

regulations made thereunder,”, there shall be substituted the words

“in any regulations made thereunder,”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 77 Substitution of article 3 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

For article 3 of the principal Act, there shall be substituted

the following>

3. The Minister shall by Order in the Gazette appoint

a body to be the competent authority for the purposes of this

Act to carry out the functions of the competent authority under

this Act and, in particular, to ensure compliance with the

provisions of this Act.”.

Article 4 of the principal Act shall be amended as follows>

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 78 Amendment of article 4 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(a) in subarticle (1) thereof>

(i) for the words “any rules or regulations made

thereunder” wherever they appear, there shall be substituted

the words “any regulations made thereunder”< and

(ii) for the words “with any insurance directive made

by the competent authority”, there shall be substituted the

words “with any insurance rule made by the competent

authority”<

(b) in subarticle (3) thereof>

(i) for the words “insurance directives” wherever they

appear, there shall be substituted the words “insurance rules”<

and

(ii) for the words “any rules or regulations made

thereunder.”, there shall be substituted the words “any

regulations made thereunder.”<

(c) in subarticle (4) thereof, for the words “Insurance

directives”, there shall be substituted the words “Insurance rules”<

and

(d) in subarticle (5) thereof, for the words “Insurance

directives”, there shall be substituted the words “Insurance rules”.

Article 5 of the principal Act shall be amended as follows>

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 79 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Amendment of

article 5 of the

principal Act.

(a) in subarticle (6) thereof, for the words “make rules or

regulations”, there shall be substituted the words “make

regulations”<

(b) in subarticle (7) thereof, for the words “by an insurance

directive”, there shall be substituted the words “by an insurance

rule”< and

(c) in subarticle (8) thereof, for the words “by an insurance

directive” or “the directive”, there shall be substituted the words

“by an insurance rule” or “the rule” respectively.

Article 6 of the principal Act shall be amended as follows> Amendment of

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Art. 80 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

article 6 of the

principal Act.

(a) for subarticle (3) thereof, there shall be substituted the

following>

“(3) Subarticles (1) and (2) shall not apply to>

(a) a mutual association if such mutual association

satisfies such requirements as may be set out in an

insurance rule made for the purpose< or

(b) a European insurance undertaking having its

head office in a Member State or an EEA State

establishing a branch or providing services in Malta in

exercise of a European right.”< and

(b) subarticle (4) thereof, shall be deleted< and

(c) subarticles (5) and (6) thereof, shall be renumbered as

subarticles (4) and (5) respectively.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 81 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Article 8 of the principal Act shall be amended as follows>

Amendment of

article 8 of the

principal Act.

(a)

in subarticle (1) thereof>

(i) for paragraph (b) thereof, there shall be substituted

the following>

(b) (i) in so far as a company whose business is

not restricted to reinsurance business, the company’s

objects are limited to business of insurance and

operations arising directly therefrom, to the exclusion

of all other commercial business<

(ii) in so far as a company carrying on business

restricted to reinsurance, the company’s objects are

limited to the business of reinsurance and related

operations, as may be specified by an insurance rule made

for the purposes of this article<

(ii) in paragraph (e) thereof, for the words “as may be

determined by an insurance directive”, there shall be

substituted the words “as may be determined by an insurance

rule”< and

(iii) in paragraph (f) thereof, for the words “as may be

determined by an insurance directive”, there shall be

substituted the words “as may be determined by an insurance

rule”< and

(b) in subarticle (3) thereof, for the words “an insurance

directive issued under this Act”, there shall be substituted the words

“an insurance rule issued under this Act”.

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Art. 82 Amendment of article 9 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Article 9 of the principal Act shall be amended as follows>

(a) for subarticle (2) thereof, there shall be substituted the

following>

“(2) Without prejudice to the provisions of subarticle

(3), the provisions of this article shall not apply to a company

which holds an authorisation to carry on both long term

business and general business under this Act as is force

immediately before the coming into force of subarticle (1)

until such time as the Minister may by Order in the Gazette

establish.”< and

(b) in subarticle (3) thereof, for the words “as may be

determined by an insurance directive”, there shall be substituted

the words “as may be determined by an insurance rule”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 83 Amendment of article 10 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

In paragraph (b) of subarticle (1) of article 10 of the principal

Act, the words “where the authorisation sought or held is one not

restricted to reinsurance,” shall be deleted.

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Art. 84 of — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

In indent (ii) of paragraph (b) of subarticle (2) of article 11 Amendment

article 11 of the

of the principal Act, for the words “determined by an insurance principal Act.

directive”, there shall be substituted the words “determined by an

insurance rule”.

Deletion of article

Article 13 of the principal Act shall be deleted.

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Art. 85 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

13 of the principal

Act.

Article 14 of the principal Act shall be amended as follows> Amendment of

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Art. 86 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

article 14 of the

principal Act.

(a) in subarticle (2) thereof, the words “Subject to subarticle

(3)” shall be deleted<

(b) subarticle (3) thereof, shall be deleted<

(c) subarticles (4), (5), (6) and (7) thereof, shall be renumbered

as subarticles (3), (4), (5) and (6) respectively<

(d) in subarticle (5) thereof as renumbered, for the words

“the reference in subarticle (5)(a)”, there shall be substituted the

words “the reference in subarticle (4)(a)”< and

(e) in subarticle (6) thereof as renumbered>

(i) for the words “In applying subarticle (5)”, there shall

be substituted the words “In applying subarticle (4)”< and

(ii) for the words “maintained under article 17(7)”, there

shall be substituted the words “maintained under article

17(6)”.

Article 15 of the principal Act shall be amended as follows> Amendment of the

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Art. 87 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

marginal note to

article 15 of the

(a) for the marginal note to article 15 thereof, there shall be

principal Act.

substituted the words “Failure to maintain the minimum margin

of solvency.”< and

(b) in subarticle (3) thereof, for the words “by virtue of article

14(6)” there shall be substituted the words “by virtue of article

14(5)”.

Article 16 of the principal Act shall be amended as follows> Amendment of

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Art. 88 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

article 16 of the

principal Act.

(a) in subarticle (1) thereof, the words “Subject to subarticle

(5)” shall be deleted< and

(b) subarticle (5) thereof shall be deleted.

Article 17 of the principal Act shall be amended as follows>

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 89 Amendment of article 17 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(a)

subarticle (6) thereof shall be deleted<

(b) subarticles (7), (8) and (9) thereof, shall be renumbered

as subarticles (6), (7) and (8) respectively<

(c) in subarticle (6) thereof as renumbered, for the words

“Without prejudice to subarticle (1) and subject to subarticle (8)”,

there shall be substituted the words “Without prejudice to the

foregoing subarticles and subject to subarticle (7)”< and

(d) in subarticle (7) thereof as renumbered, for the words

“Subarticle (7) shall not apply to such company”, there shall be

substituted the words “Subarticle (6) shall not apply to such

company”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 90 Amendment of article 20 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Subarticle (4) of article 20 of the principal Act shall be deleted.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 91 Amendment of article 21 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Subarticle (3) of article 21 of the principal Act shall be

amended as follows>

(a) for the words “and of any rules or regulations”, there

shall be substituted the words “and of any regulations”< and

(b) for the words “and of any insurance directive”, there

shall be substituted the words “and of any insurance rule”.

Article 23 of the principal Act shall be amended as follows>

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 92 Amendment of article 23 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(a) in subarticle (4) thereof, for the words “as may be

determined by an insurance directive”, there shall be substituted

the words “as may be determined by an insurance rule”< and

(b) in subarticle (6) thereof, for the words “by the insurance

directive determine.”, there shall be substituted the words “by the

insurance rule determine.”.

Article 26 of the principal Act shall be amended as follows>

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 93 Amendment of article 26 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(a)

in paragraph (a) thereof>

(i) for the words “and any rules or regulations made

thereunder”, there shall be substituted the words “and any

regulations made thereunder”< and

(ii) for the words “or any insurance directive<”, there

shall be substituted the words “or any insurance rule<”< and

(b) in paragraph (d) thereof>

(i) for the words “and any rules or regulations made

thereunder,”, there shall be substituted the words “and any

regulations made thereunder,”< and

(ii) for the words “or any insurance directive,”, there

shall be substituted the words “or any insurance rule,”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 94 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Subarticle (1) of article 28 of the principal Act shall be Amendment of

article 28 of the

amended as follows>

principal Act.

(a) for the words “In any of the cases in which the competent

authority may suspend or revoke an authorisation under article 26,

the competent authority may, either in lieu of or in addition to any

such suspension or revocation, and without prejudice to its powers

to suspend or revoke an authorisation, proceed in any one or more

of the following manners>” there shall be substituted the words

“Without prejudice to the powers conferred to the competent

authority under article 26 of the Act, the competent authority, may,

where it is satisfied that sufficient serious circumstances exist,

proceed to take any one or more of the following measures>”<

(b)

paragraph (e) shall be substituted by the following>

“(e) issue an order for the dissolution and winding up

of the company or, in the case of a company whose head

office is in a country outside Malta, for the winding up of its

business in Malta<”< and

(c) for paragraph (h) there shall be substituted the following>

“ (h) require the company to submit a financial recovery

plan as may be determined by an insurance rule made for the

purposes of this article if it considers that the interest of

insureds, policyholders, creditors or other interested persons

are likely to be prejudiced owing to a deterioration in the

financial position of the company< ”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 95 Amendment of article 30 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

For subarticle (7) of article 30 of the principal Act, there

shall be substituted the following>

“ (7) In this article, any reference to officers or to agents

shall include a reference to past as well as present officers or

agents and the expression “agents”, in relation to an authorised

company, shall include an insurance agent, insurance manager

or tied insurance intermediary, registered or enrolled under

the Insurance Intermediaries Act, 2006 acting for the

company, the bankers, the auditors and, in the case of a

company authorised to carry on long term business, the actuary

of the company, a person acting as an intermediary for the

company and a person as may be prescribed by regulations

made for the purposes of article 18.”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 96 Addition of new article 31A in the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Immediately after article 31 of the principal Act, there shall

be inserted the following new article 31A>

31A. (1) Without prejudice to any of the powers

conferred to it under this Act, the competent authority may,

whenever it deems it necessary, give, by notice in writing,

such directives as it may deem appropriate in the

circumstances, and any person to whom or to which the notice

is given shall obey, comply with and otherwise give effect to

any such directive within the time and in the manner stated in

the directive.

(2) The power to give directives under this article

shall include the power to vary, alter, add to or withdraw any

directive, as well as the power to issue new or further

directives.

(3) Where the competent authority is satisfied that

the circumstances so warrant, it may at any time make public

any directive it has given under any of the provisions of this

article.”.

Article 32 of the principal Act shall be amended as follows>

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 97 Amendment of article 32 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(a) in subarticle (1) thereof, for the words “an insurance

directive” or “that directive.”, there shall be substituted the words

“an insurance rule” or “that rule.”, respectively<

(b) in subarticle (2) thereof, for the words “the insurance

directive.”, there shall be substituted the words “the insurance

rule.”< and

(c) in subarticle (3) thereof, for the words “specified in the

directive.”, there shall be substituted the words “specified in the

rule.”.

Deletion of article

Article 37 of the principal Act shall be deleted.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 98 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

37 of the principal

Act.

Article 38 of the principal Act shall be amended as follows> Amendment of

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 99 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

article 38 of the

principal Act.

(a) in subarticle (2) thereof, for the words “insurance

undertaking,” there shall be substituted the words “insurance

undertaking, reinsurance undertaking,” < and

(b) in subarticle (7) thereof, for the words “an insurance

directive determining the form in which such notification shall

take place”, there shall be substituted the words “an insurance

rule determining the form in which such notification shall take

place”.

Article 39 of the principal Act shall be amended as follows> Amendment

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 100 of — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

article 39 of the

principal Act.

(a)

in subarticle (2) thereof>

(i) in indent (i) of paragraph (a) therein, for the words

“as may be determined by an insurance directive”, there shall

be substituted the words “as may be determined by an

insurance rule”< and

(ii) in indent (ii) of paragraph (b) therein, for the words

“by any applicable insurance directive.”, there shall be

substituted the words “by any applicable insurance rule.”<

(b) subarticle (3) thereof shall be deleted< and

(c)

subarticle (4) thereof shall be renumbered as subarticle

(3).

Article 43 of the principal Act shall be amended as follows> Amendment of

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 101 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

article 43 of the

principal Act.

(a)

in subarticle (1) thereof>

(i) for the words “and any rules or regulations made

thereunder,”, there shall be substituted the words “and any

regulations made thereunder,”< and

(ii) for the words “or any insurance directive,” there

shall be substituted the words “or any insurance rule,”< and

(b) in paragraph (b) of article (2) thereof, for the words “an

insurance directive” or “that directive.”, there shall be substituted

the words “an insurance rule” or “that rule.”, respectively.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 102 Amendment of article 44 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

In subarticle (1) of article 44 of the principal Act, the words

“other than a contract falling within class III of the Second Schedule,”

shall be deleted.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 103 Substitution of article 46 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Article 46 of the principal Act shall be substituted by the

following>

“Contracts of

46. No contract of insurance shall be held void or

insurance not

voidable

by an insurer by reason only that, at the time the

contract is entered into, there is a breach of any provision of

this Act or of the Insurance Intermediaries Act, (in this article

breach of this

Act or of the referred to as “the Act”) and of any regulations made under

this Act or under the Act or of any insurance rule issued in

Intermediaries

virtue of this Act or any insurance intermediaries rule issued

in virtue of the Act.”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 104 Amendment of article 47 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Article 47 of the principal Act shall be amended as follows>

(a) in subarticle (1) thereof, for the words “by an insurance

directive” there shall be substituted the words “by an insurance

rule”< and

(b) in subarticle (2) thereof, for the words “insurance

directive,”, there shall be substituted the words “insurance rule,”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 105 Amendment of article 48 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

In subarticle (2) of article 48 of the principal Act, for the

words “by an insurance directive” there shall be substituted the words

“by an insurance rule”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 106 Addition of new article 48A to the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Immediately after article 48 of the principal Act there shall

be added the following new article 48A>

48A. (1) For the purposes of the article>

(a) “Lloyd’s” means the society and corporation

incorporated by Lloyd’s Act, 1871, of the United

Kingdom, and regulated by or under Lloyd’s Acts, 1871

to 1982, of the United Kingdom or any other law from

time to time amending or re-enacting the same<

(b) “syndicate” means a member or group of

members of Lloyd’s underwriting business of insurance

at Lloyd’s through the agency of a managing agent to

which a particular syndicate number is assigned by or

under the authority of the Council of Lloyd’s.

(2) Lloyd’s shall at all times have a representative

in Malta who shall be resident in Malta and who shall be the

representative in Malta of Lloyd’s and of each of its members.

The representative shall be designated by a letter addressed

to the competent authority by the chairman of Lloyd’s.

(3) The representative shall for the purposes of

this Act be authorised to act generally as judicial representative

of, and accept service of any document on behalf of, Lloyd’s

and of each of its members and to file any judicial acts in the

registry of any court or similar authority in Malta on behalf

of Lloyd’s or any of its members. The general representative

shall not be personally liable for the debts and obligations of

Lloyd’s or any of its members.

(4) It shall be sufficient in any judicial act (other

than an application for the issue of any precautionary or

executive warrant) filed by or against members of Lloyd’s in

connection with a policy underwritten by them to file the act

in the name of the Lloyd’s representative in Malta as

representative of those members< provided the act contains a

statement that it is being filed in connection with a policy of

insurance underwritten by members of Lloyd’s and giving

particulars of the number reference and date of the policy in

respect of which the act is filed, the identifying number of

each of the syndicates subscribing thereto and, where known,

the names of the members of Lloyd’s comprising those

syndicates. This subarticle shall apply notwithstanding any

provision to the contrary contained in the Code of

Organisation and Civil Procedure.

(5) The Lloyd’s representative shall within forty-

five days after the filing by him of the judicial act, or of its

service on him, as the case may be, file a note in the records

of the judicial act filed as aforesaid containing a list of the

names of the members comprising the syndicates subscribing

to the policy and any such note shall be deemed to be an

integral part of the judgment or decree emanating from the

court subsequent to the judicial act and such judgment or

decree shall be binding on the members whose names are

listed in the note in the same manner as it would so have

bound them if they has been named as parties to the said

judicial act>

Provided that, the Lloyd’s representatives shall not be

bound to file any such note following the filing of any judicial

act where particulars of the names of the members of Lloyd’s

comprising those syndicates are already contained in the act

or where any such note has already been filed in the records

of the case.”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 107 Addition of new article 48B to the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Immediately after the new article 48A of the principal Act,

there shall be added the following new article 48B>

48B. Every authorised company shall utilise the

“Appointment

intermediaries. services of insurance intermediaries which are>

(a) enrolled under the Insurance Intermediaries

Act, 2006< or

(b) registered with a supervisory authority of a

European insurance undertaking in a Member State or

an EEA State.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 108 Amendment of article 49 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

In paragraph (a) of article 49 of the principal Act, for the

words “in respect of risks situated in Malta and of commitments where

Malta is the country of the commitment” there shall be substituted the

words “in respect of risks and of commitments”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 109 Amendment of article 50 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

In subarticle (1) of article 50 of the principal Act, for the

words “and any rules and regulations made thereunder,” there shall be

substituted the words “and any regulations made thereunder,”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 110 Substitution of article 54 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Article 54 of the principal Act shall be substituted by the

following>

54. The Minister may, after consultation with the

competent authority, make regulations to better implement

the provisions of this Part, including the transposition of any

requirement or provision as may arise under a Directive,

Regulation or Decision of the European Union or any other

similar measure.”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 111 of — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Subarticles (2) and (3) of article 59 of the principal Act Amendment

article 59 of the

shall be amended as follows>

principal Act.

(a) for subarticle (2) thereof, there shall be substituted the

following>

“(2) Information obtained by the competent authority

or by its officers, employees or agents for the purposes of, or

pursuant to, any of the provisions of this Act, or of any

regulations made thereunder, or of any insurance rule, or in

the discharge of any functions under any of the said provisions,

shall be treated as confidential and protected by the duty of

professional secrecy, and shall not be disclosed to any other

person, except in the following cases –

(a) where the information is disclosed with a view

to the institution of, or otherwise for the purposes of,

criminal proceedings or of any proceedings by the

competent authority before any court under this Act<

(b) where the information is disclosed with a view

to enabling or assisting the competent authority in the

performance or discharge of any of its functions under

this Act<

(c) where the information has been made available

to the public by virtue of being disclosed in any

circumstances in which, or for any purpose for which,

disclosure is not precluded by this article<

(d) where a summary or collection of information

is prepared or supplied in such a way as not to enable

the identity of any person to whom the information

relates to be ascertained<

(e) where the information is disclosed to an auditor

where such disclosure would assist the auditor in the

exercise of his functions under articles 21 and 24<

(f) where the information is disclosed to an actuary

where such disclosure would assist the actuary in the

exercise of his functions under article 23<

(g) where the information is provided to the Central

Bank of Malta or to the Listing Authority under the

Financial Markets Act in the exercise of their respective

functions in terms of law<

(h) where the information is provided to such other

local or overseas regulatory, judicial or enforcement

authorities where such disclosure is required or requested

for the pursuance of serious regulatory concerns or the

detection, prevention or prosecution of criminal offences<

(i) where the information is disclosed in civil or

commercial proceedings in relation to the bankruptcy

or compulsory winding up of an authorised company

provided such information does not concern third parties

involved in attempts to rescue such company, and to such

overseas bodies responsible for the liquidation and

bankruptcy of a person holding an authorisation or an

equivalent licence from an overseas regulatory

authority.” <

(b) for subarticle (3) thereof, there shall be substituted the

following>

“ (3) Subject to the provisions of article 55, information

obtained from an overseas regulatory authority may only be

disclosed to another person, to another overseas regulatory

authority or to any other third party with the prior approval of

the authority which had provided the information.” .

Article 61 of the principal Act shall be amended as follows>

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 112 Amendment of article 61 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(a) for the words “or any rules or regulations made

thereunder”, there shall be substituted the words “or any regulations

made thereunder”< and

(b) in paragraph (e) thereof, for the words “or paragraph

4.1 of the First Schedule, as the case may be<”, there shall be

substituted the words “or subarticle (2) of article 48A of the Act,

as the case may be<”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 113 Amendment of article 62 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Paragraph (a) of subarticle (3) of article 62 of the principal

Act shall be substituted by the following>

“(3) (a) The provisions of the foregoing subarticles shall

also apply, mutatis mutandis to companies enrolled to act as

insurance managers and companies enrolled to carry on the business

of insurance broking under the Insurance Intermediaries Act, 2006,

and accordingly references in this article to “authorised” and to

“business of insurance” shall be deemed to include references to

“enrolled” and “activities of companies enrolled as insurance

managers and business of insurance broking”, respectively.”.

Article 64 of the principal Act shall be amended as follows> Amendment of

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 114 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

article 64 of the

principal Act.

(a)

in subarticle (1) thereof,

(i) for the words “rules and regulations” , wherever they

appear, there shall be substituted the word “regulations”< and

(ii) in the Maltese text, in paragraph (c) therein, for the

words “ma[luqa minn kumpannija /ellula” there shall be

substituted the words “ma[luqa minn kumpannija /ellulari”<

(b) in subarticle (2) thereof, for the words “and not

exceeding five thousand liri” there shall be substituted the words

“and not exceeding forty thousand liri” <

(c) subarticles (4), (5), (6) and (7) thereof, shall be renumbered

as subarticles (6), (9), (10) and (11) respectively<

(d) immediately after subarticle (3) thereof, there shall be

added the following new subarticles (4) and (5)>

“(4) The Minister may, after consultation with the

competent authority, make regulations providing for the

determination and regulation of any matter which relates to

finite reinsurance activities, including mandatory conditions

for inclusion in all finite reinsurance contracts, and prescribing

the accounting, prudential and statistical information

requirements providing for the establishment of technical

provisions, the margin of solvency and the minimum

guarantee fund requirements that a reinsurance undertaking

shall maintain in respect of finite reinsurance activities.

(5) The Minister may, after consultation with the

competent authority, make regulations providing for the

establishment of special purpose vehicles within the meaning

of Directive 2005#68#EC of the European Parliament and of

the Council of 16 November 2005 on reinsurance and

amending Council Directives 73#239#EEC, 92#49#EEC, as

well as Directives 98#78#EC and 2002#83#EC, including the

conditions under which the activities of such vehicles shall

be carried on.” <

(e) in subarticle (6) thereof as renumbered, for the words

“or of any rules and regulations” there shall be substituted the

words “or of any regulations”<

(f) immediately after subarticle (6) thereof as renumbered,

there shall be added the following new subarticles>

“ (7) The Minister may, after consultation with the

competent authority, make regulations to better implement

the provisions of this Act, including the transposition of any

requirement or provision as may arise under a Directive,

Regulation or Decision of the European Union or any other

similar measure relevant for the purposes of this Act.

(8) Regulations may be made under this article with

regards to any matter related to a transfer of business of

insurance< and the regulations may make such exemptions,

conditions, modifications as may be specified therein in

respect of different circumstances or purposes.”<

(g) in subarticle (9) thereof as renumbered, for the words

“rules or regulations”, wherever they appear, there shall be

substituted the word “regulations”< and

(h) in subarticle (11) thereof as renumbered, for the words

“rules or regulations”, whenever they appear, there shall be

substituted the word “regulations”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 115 Amendment of article 66 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

In article 66 of the principal Act, for the words “or any

rules and regulations” there shall be substituted the words “or any

regulations”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 116 Amendment of article 67 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Article 67 of the principal Act shall be amended as follows>

(a)

in subarticle (2) thereof,

(i) in paragraph (a) thereof, for the words “or any rules

or regulations made thereunder,”, there shall be substituted

the words “or any regulations made thereunder,”<

(ii) in paragraph (b) thereof, for the words “or any

rules or regulations made thereunder or any insurance

directive< or”, there shall be substituted the words “or any

regulations made thereunder or any insurance rule< or”<

(iii) in paragraph (c) thereof, for the words “or any

rules or regulations made thereunder< or”, there shall be

substituted the words “or any regulations made thereunder<

or”<

(iv) in paragraph (d) thereof, for the words “or any

rules or regulations made thereunder or any insurance

directive< or”, there shall be substituted the words “or any

regulations made thereunder or any insurance rule< or”<

(v) in indent (i) of paragraph (e) thereof>

(aa) for the words “or of any rules or regulations

made thereunder,” there shall be substituted the words

“or of any regulations made thereunder,”< and

(bb) for the words “or any insurance directive<

or”, there shall be substituted the words “or any insurance

rule< or”<

(b) in the proviso to subarticle (6) thereof, for the words

“may not be greater than a financial penalty of five thousand liri”

there shall be substituted the words “may not be greater than a

financial penalty of forty thousand liri”.

Article 68 of the principal Act shall be amended as follows> Amendment of

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 117 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

article 68 of the

principal Act.

(a) in subarticle (1) thereof, for the words “and any rules or

regulations made thereunder”, there shall be substituted the words

“and any regulations made thereunder”< and

(b) in subarticle (2) thereof, for the words “and any rules or

regulations made thereunder”, there shall be substituted the words

“and any regulations made thereunder”<

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 118 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Article 69 of the principal Act shall be amended as follows> Amendment of

article 69 to the

principal Act.

(a) subarticles (8) and (9) thereof shall be renumbered as

(9) and (10) respectively< and

(b) immediately after subarticle (7) thereof, there shall be

added the following new subarticle>

“(8) Any reference to an insurance directive issued by

the competent authority in virtue of subarticle (3) of article 4

of this Act in any licence, notice, decision or other act made

or taken by the competent authority and any reference in any

law or regulation to an insurance directive shall be deemed to

be a reference to an insurance rule.”.

The First Schedule to the principal Act shall be deleted.

119.

Gazzetta tal-Gvern ta' Malta — Att 2006 12 — ATT TA’ L-2006 DWAR L-INTERMEDJARJI FL-ASSIGURAZZJONI Taqsim ta’ l-Att TAQSIMA I PRELIMINARI 1.
Art. 119 T[assir ta’ l-Ewwel Skeda ta’ l-Att prinçipali. — ATT TA’ L-2006 DWAR L-INTERMEDJARJI FL-ASSIGURAZZJONI Taqsim ta’ l-Att TAQSIMA I PRELIMINARI 1. Open official source

tit[assar.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 120 Amendment of the Second Schedule to the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

The Second Schedule to the principal Act shall be amended

as follows>

(a) in paragraph 1 thereof, for the words “insurance

directive”, there shall be substituted the words “insurance rule”<

(b) in paragraph 2 thereof>

(i) in class II, “Marriage and birth”, under the heading

“Description”>

(aa) for the words “as may be specified by the

insurance directive,”, there shall be substituted the words

“as may be specified by the insurance rule.”< and

(bb) the words “but excluding (in each case)

contracts within class III of this Schedule.” shall be

deleted<

(ii) in class III, “Linked long term”, under the heading

“Description” the words “or contracts to provide a sum on

marriage or on the birth of a child” shall be deleted<

(iii) in sub-paragraph (a) of class IV, “Permanent

health”, under the heading “Description” for the words “as

may be specified by the insurance directive,”, there shall be

substituted the words “as may be specified by the insurance

rule,”<

(iv) in class VIII, “Collective insurance”, under the

heading “Description” for the words “as may be specified by

the insurance directive”, there shall be substituted the words

“as may be specified by the insurance rule”< and

(v) in class IX, “Social insurance”, under the heading

“Description” for the words “as may be specified by the

insurance directive”, there shall be substituted the words “as

may be specified by the insurance rule”.

The Fourth Schedule to the principal Act shall be deleted. Deletion

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 121 of the — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Fourth Schedule to

the principal Act.

PART XVI

AMENDMENT OF THE SPECIAL FUNDS

(REGULATION) ACT, CAP. 450

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 122 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

(1) This Part amends and shall be read and construed as one Amendment of the

Special Funds

with the Special Funds (Regulation) Act, hereinafter referred to as “the (Regulation) Act,

principal Act”.

(2) The provisions of this Part shall come into force on such

date as the Minister responsible for finance may, by notice in the Gazette

establish, and different dates may be established for different provisions

and different purposes of this Part.” .

Article 2 of the principal Act shall be amended as follows> Amendment of

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 123 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

article 2 of the

principal Act.

(a) in the definition “asset manager”, for the words

“discretionary or non-discretionary investment services to” there

shall be substituted the words “the investment service of managing

investments of”<

(b) in the definition “scheme”, for the words “means a

scheme or arrangement established by contract which governs the

rights and responsibilities of the retirement scheme administrator

and contributor thereto, and” there shall be substituted the words

“means a scheme or arrangement which is registered under this

Act”< and

(c) in the definition “scheme document”, for the word

“contract” there shall be substituted the word “instrument”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 124 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Subarticle (1) of article 4 of the principal Act shall be Amendment of

article 4 of the

amended as follows>

principal Act.

(a) in paragraph (b) thereof, for the word “shall” there shall

be substituted the word “may”< and

(b) in paragraph (i) thereof, for the words “auditor, or actuary

of the scheme<” there shall be substituted the words “auditor,

actuary or any other party to the scheme<”.

Article 17 of the principal Act shall be amended as follows> Amendment of

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 125 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

article 17 of the

principal Act.

(a) for subarticle (1) thereof, there shall be substituted the

following>

“(1) No person shall provide a retirement fund or a

scheme with any administrative services described in articles

18 and 19, trustee services or any other services as the

Authority may specify, unless such person is registered under

this Act as a retirement fund administrator or a scheme

administrator as the case may be, or is otherwise registered

by the Authority to perform any such services.”< and

(b) immediately after subarticle (6) there shall be inserted

the following new subarticle (7)>

“(7) The provisions of this Act applicable to retirement

scheme administrators and retirement fund administrators, as

the case may be, shall apply mutatis mutandis to persons who

provide trustee services or any other services in accordance

with subarticle (1) of this article unless the Authority otherwise

provides. The Authority may issue any directives to regulate

the activities of trustees providing trustee services under this

Act and it may impose such conditions as it deems appropriate

in relation to the services provided by a trustee or trustees in

the context of a Scheme.”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 126 Amendment of article 19 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Subarticle (1) of article 19 of the principal Act shall be

amended as follows>

(a) in paragraph (a) thereof, for the words “all contributions

in the retirement fund in accordance with” there shall be substituted

the words “all contributions in accordance with”<

(b) in paragraph (c) thereof, for the words “of the scheme

document<”, there shall be substituted the words “of the scheme

document and that all disbursements are effected in accordance

with the scheme document<”<

(c) for paragraph (d) thereof, there shall be substituted the

following>

“(d)

maintaining custody of assets<”< and

(d) in paragraph (h) thereof>

(i) for the words “the shares of a retirement fund or

funds” , there shall be substituted the words “any security in

which the scheme may be invested, including the shares of

any retirement fund or funds, as may be applicable,”< and

(ii) for the words “such redemption” there shall be

substituted the words “such redemption or liquidation”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 127 of — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

Subarticle (1) of article 24 of the principal Act shall be Amendment

article 24 of the

amended as follows>

principal Act.

(a) for the words “providing discretionary or non-

discretionary investment management services constituting

investment services to” there shall be substituted the words

“managing investments of”< and

(b) for the words “asset manager in accordance with this

Act” there shall be substituted the words “asset manager or, a

retirement scheme administrator duly authorized to provide

investment management services, in accordance with this Act”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 128 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

In article 37 of the principal Act, for the words “may only Amendment of

article 37 of the

invest in” there shall be substituted the words “may invest in”.

principal Act.

Article 38 of the principal Act shall be amended as follows> Amendment of

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 129 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

article 38 of the

principal Act.

(a) in subarticle (1) thereof, for the words “A retirement

fund shall comply” there shall be substituted the words “A

retirement fund or scheme shall comply”<

(b) in subarticle (2) thereof>

(i) for the words “A retirement fund shall comply”

there shall be substituted the words “A retirement fund or

scheme shall comply”< and

(ii) in paragraph (d) thereof, for the words “the

retirement fund shall derive” there shall be substituted the

words “the retirement fund or scheme shall derive”<

(c) in subarticle (3) thereof, for the words “retirement fund

shall comply” there shall be substituted the words “retirement

fund or scheme shall comply”< and

(d) in paragraph (b) of subarticle (4) thereof>

(i) for the words “to a retirement fund and” there shall

be substituted the words “to a retirement fund or scheme and”<

and

(ii) for the words “by the retirement fund.” there shall

be substituted the words “by the retirement fund or scheme.”.

Malta Government Gazette — Act 2006 12 — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni
Art. 130 Amendment of article 50 of the principal Act. — XII tal-2006 - Att dwar l-Intermedjarji fl-Assigurazzjoni Open official source

In paragraph (b) of subarticle (1) of article 50 of the principal

Act, for the words “Retirement Fund Custodian” there shall be

substituted the words “Retirement Fund or Scheme Custodian” .

A

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