ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the (act_2016_16) | MT

Malta Government Gazette — Act 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the

Preamble — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the Open official source

I assent.

M ARIE L OUISE

(L.S.)

C OLEIRO P RECA

President

22nd March, 2016

ACT No. XVI of 2016

AN ACT to set up the Office of the Arbiter for Financial Services

with power to mediate, investigate, and adjudicate complaints filed

by a customer against a financial services provider, to set up a Board

of Management responsible for the administration of the Office of the

Arbiter for Financial Services, and to provide for other purposes

connected therewith.

BE IT ENACTED by the President, by and with the advice and

consent of the House of Representatives, in this present Parliament

assembled, and by the authority of the same, as follows:-

PART I

Preliminary

Malta Government Gazette — Act 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the

Art. 1 Short title and commencement. — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the Open official source

(1) The short title of this Act is the Arbiter for Financial

Services Act, 2016.

(2) This Act 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 financial services provided by a financial services provider

or for different purposes of this Act.

Malta Government Gazette — Act 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the

Art. 2 Interpretation. — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the Open official source

In this Act, unless the context otherwise requires

"Arbiter" means the Arbiter for Financial Services appointed

under article 14 of this Act;

"Board" means the Board of Management and Administration

established under article 3;

"customer" means a natural person, including his successors in

title, or a micro enterprise;

"durable medium" means any instrument which enables the

storage of information addressed personally to a particular person in a

way accessible for future reference and for a period of time adequate

for the purposes of the information, and allows the unchanged

reproduction of the information stored;

"eligible customer" means a customer who is a consumer of a

financial services provider, or to whom the financial services provider

has offered to provide a financial service, or who has sought the

provision of a financial service from a financial services provider. It

includes the lawful successor in title to the financial product which is

the subject of the relevant complaint;

"financial services provider" means a provider of financial

services which is or has been licensed or otherwise authorized by the

Malta Financial Services Authority in terms of the Malta Financial Cap. 330.

Services Authority Act or any other financial services law, including

but not restricted to investment services, banking, financial

institutions, credit cards, pensions and insurance, which is or has been

resident in Malta or is or has been resident in another EU / EEA

Member State and which offers or has offered its financial services in

Malta. A provider of financial services which has had its licence

suspended or withdrawn by the competent authority, but which was

licensed during the period in relation to which a complaint by an

eligible customer is made to the Arbiter, shall be considered as falling

within the definition of a financial services provider;

"financial year" means a period of twelve months beginning on

the first day of January and ending on the thirty-first day of December

of the same year;

"micro enterprises" means an enterprise which employs fewer

than ten persons and whose annual turnover and, or annual balance

sheet total does not exceed two million euro (€2,000,000);

"Minister" means the Minister responsible for Finance;

"Office" means the Office of the Arbiter for Financial Services

established under article 10;

"Office staff member" means a person appointed under article

19(4)(c);

"parties" in relation to a complaint means the complainant, the

financial services provider against whom the complaint is made, and

any other person who in the opinion of the Arbiter should be treated

as a party to the complaint;

"substitute Arbiter" means the Arbiter appointed under article

Gazzetta tal-Gvern ta' Malta — Att 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta.

Art. 3 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta. Open official source

(1) Għandu jkun hemm Bord, li jkun magħruf bħala l- Twaqqif u

Bord tal-Immaniġġjar u l-Amministrazzjoni, li għandu jkun għamla

tal-Immaniġġjar

responsabbli għall-immaniġġjar u l-amministrazzjoni tal-Uffiċċju tal- u Amministraz-

Arbitru għas-Servizzi Finanzjarji.

zjoni.

(2) Il-Bord għandu jkun magħmul minn tliet membri, inkluż

iċ-Chairperson, li jkun maħtur mill-Ministru, membru, li jkun ukoll

maħtur mill-Ministru, u membru ieħor li jkun maħtur mill-Ministru

responsabbli għall-Affarijiet tal-Konsumatur.

(3) Il-Ministru għandu jaħtar Chairperson li jkollu għarfien

jew esperjenza ta’ materja li jirrigwardaw il-konsumatur li jkunu

relatati mal-provdiment tas-servizzi finanzjarji.

(4) Il-Ministru għandu jagħżel il-membri tal-Bord minn fost

persuni li jkunu jidhru lilu li jkunu kwalifikati li jkunu hekk

magħżula.

(5) Il-membri tal-Bord għandhom iwettqu l-funzjonijiet

tagħhom taħt dan l-Att fil-ġudizzju individwali tagħhom u

m’għandhomx ikunu soġġetti għall-ordnijiet jew kontroll ta’ xi

persuna jew awtorità oħra fil-qadi ta’ dawk il-funzjonijiet.

Gazzetta tal-Gvern ta' Malta — Att 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta.

Art. 4 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta. Open official source

(1) Il-membri tal-Bord għandhom iżommu l-kariga għal Żamma ta’

perjodu ta’ ħames snin, u membru għandu, meta jieqaf milli jkun kariga tal-Bord.

membru, ikun eliġibbli għal ħatra mill-ġdid.

(2) Il-membri tal-Bord ikunu intitolati għal dik ir-

rimunerazzjoni kif il-Ministru jista’ minn żmien għal żmien

jiddeċiedi.

Gazzetta tal-Gvern ta' Malta — Att 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta.

Art. 5 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta. Open official source

Iċ-Chairperson u kull membru tal-Bord jista’ jitneħħa Tneħħija ta’

mill-Ministru minħabba f’inkapaċità ppruvata jekk ikompli jaqdi d- membri

Bord.

dmirijiet tiegħu jew fuq imġiba ħażina bil-provi.

Gazzetta tal-Gvern ta' Malta — Att 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta.

Art. 6 Riżenja. — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta. Open official source

(1) Kull membru tal-Bord jista’ jirriżenja mill-kariga

tiegħu b’ittra indirizzata lill-Ministru.

(2) Il-ħatra, tmiem tal-kariga jew riżenja ta’ kull persuna bħala

membru tal-Bord, inkluż ir-raġunijiet għal dak it-tmiem jew riżenja

kif ikun japplika, għandhom jiġu ppubblikati fil-Gazzetta.

Gazzetta tal-Gvern ta' Malta — Att 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta.

Art. 7 Segretarju tal- Bord. — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta. Open official source

(1) Il-Bord għandu jaħtar segretarju għal dak il-perjodu

u taħt dawk il-pattijiet kif il-Bord iqis li jkun xieraq.

(2) Għandu jkun id-dmir tas-Segretarju li jagħmel il-

preparazzjonijiet meħtieġa għal-laqgħat tal-Bord u li jżomm minuti

ta’ dawk il-laqgħat.

(3) Is-Segretarju għandu wkoll iwettaq kull funzjoni li tista’

tiġi delegata lilu bil-miktub mill-Bord minn żmien għal żmien.

Gazzetta tal-Gvern ta' Malta — Att 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta.

Art. 8 Funzjonijiet tal- Bord. — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta. Open official source

(1)

Għandha tkun il-funzjoni tal-Bord li

(a)

jagħti għajnuna f’affarijiet amministrattivi lill-Arbitru

fl-eżerċizzju tal-funzjonijiet tiegħu, meta l-Arbitru hekk jitlob;

(b) iżomm taħt reviżjoni l-effiċjenza u l-effettività tal-

Uffiċċju u sabiex jagħti parir lill-Ministru, jew fuq it-talba tal-

Ministru jew fuq inizjattiva tiegħu, fuq kull kwistjoni rilevanti

għat-tħaddim tal-Uffiċċju;

(ċ)

jassisti lill-Arbitru fuq kull kwistjoni li fuqha l-

Arbitru jfittex parir;

(d) jirrakkomanda lill-Ministru fir-rigward ta’ ħlas tal-

imposti u d-drittijiet li għandhom jitħallsu għat-twettiq ta’

servizzi provduti mill-Uffiċċju;

(e)

jagħti parir lill-Ministru fuq l-għemil ta’ regoli fir-

rigward ta’ ħlas ta’ imposti u drittijiet li għandhom jitħallsu lill-

Uffiċċju minn kategoriji differenti ta’ persuni, l-ammonti ta’

imposti u drittijiet, il-perjodi li fihom imposti u drittijiet

speċifikati għandhom jitħallsu, u pieni li jkunu pagabbli minn

persuna li tonqos milli jew li tħallas fil-ħin jew li ma tħallasx l-

ammont kollu dovut;

(f)

jinżamm rekord ta’ persuni li huma responsabbli li

jħallsu imposta jew dritt speċifikat, u kull pagament riċevut

mill-Uffiċċju;

(g)

jinġabru u jiġu rkuprati l-imposti u d-drittijiet

dovuti;

(h) jagħti parir lill-Ministru fuq l-għemil ta’ regoli, jew

fuq inizjattiva tiegħu jew fuq it-talba tal-Arbitru, sabiex jiġi

deċiż il-mod u r-rekwiżiti, inkluż kull tariffa pagabbli, għar-

reġistrazzjoni ta’ kull dokument taħt dan l-Att;

(i)

jiddeċiedi dwar il-metodi tal-kontabilità li

għandhom jiġu segwiti mill-Uffiċċju meta jinżammu rekords

tal-kontabilità;

(j)

jiddeċiedi dwar il-forma tar-rapport annwali li

għandu jiġi mfassal mill-Bord fuq bażi annwali;

(k) jiddeċiedi dwar il-forma tar-rapport bl-estimi ta’

dħul u nfiq li għandu jiġi mfassal mill-Bord fuq bażi annwali;

(l)

jiddeċiedi dwar il-forma tar-rapport li għandu

x’jaqsam ma’ pjan strateġiku li għandu jiġi mfassal mill-Bord

fuq bażi annwali;

(m) jaqdi dawk il-funzjonijiet jew attivitajiet kif huma

assenjati lilu minn dan l-Att;

(n) jiddeċiedi dwar kull servizz li għandu jitqies bħala

servizz finanzjarju addizzjonali li jista’ jkun soġġett għal

konsiderazzjoni mill-Arbitru; u

(o) jaqdi kull funzjoni oħra supplimentari jew anċillari

għal dak imsemmi hawn qabel.

(2) Fil-qadi tal-funzjoni tiegħu taħt is-subartikolu (1)(f), il-

Bord jista’ jibda proċeduri quddiem il-Qorti Ċivili sabiex jiġbor kull

dejn, ammont ta’ imposta jew dritt dovut lill-Uffiċċju.

(3) Ir-rappreżentanza legali tal-Bord għandha tiġi vestita fiċ-

Chairperson

Iżda l-Bord jista’ jinnomina wieħed jew aktar mill-membri

l-oħra tal-Bord li jidhru f’isem u għan-nom tal-Bord f’kull

proċediment ġudizzjarju u biex jiffirmaw għal u għan-nom tiegħu,

kull kitba jew dokument ieħor ikun xi jkun.

(4) M’għandhiex tkun il-funzjoni tal-Bord li jintervjeni bl-

ebda mod fuq kif l-Arbitru jittratta l-merti ta’ ilment partikolari.

Gazzetta tal-Gvern ta' Malta — Att 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta.

Art. 9 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta. Open official source

(1) Il-Bord għandu jkun responsabbli lejn il-Ministru Responsabbiltà

tal-Bord.

għall-qadi tad-dmirijiet tiegħu.

(2) (a)

Fi żmien sitt xhur minnufih qabel il-bidu ta’ kull

sena finanzjarja, il-Bord, b’konsultazzjoni mal-Arbitru, għandu

jipprepara, fil-forma stabbilità mill-Bord, dikjarazzjoni bl-estimi ta’

dħul u nfiq li jkollhom x’jaqsmu mal-Uffiċċju għas-sena finanzjarja li

jkun imiss. Dawk l-estimi għandhom jiġu approvati mill-Bord.

(b)

Id-dikjarazzjoni għandha tispeċifika

(i) l-ammonti mistennija li jinġabru u rkuprati

matul is-sena finanzjarja kkonċernata mill-impożizzjoni ta’

imposti u tariffi;

(ii) kull sors ieħor li minnu huma mistennija li

jinkisbu fondi matul dik is-sena sabiex jiġu ffinanzjati l-

attivitajiet tal-Uffiċċju u l-ammonti mistennija li jinġabru

minn dawk is-sorsi; u

(iii) l-attivitajiet li l-Uffiċċju jipproponi li jwettaq

matul dik is-sena;

(ċ)

Kopja tal-estimi għandha tintbagħat minnufih lill-

Ministru.

(d) Il-Ministru għandu, mal-ewwel opportunità li jkollu

u mhux iżjed tard minn sitt ġimgħat wara li jkun irċieva kopja tal-

estimi mill-Bord, japprova l-istess bl-emendi jew mingħajr emendi.

(e)

Dawk l-estimi approvati għandhom jitqiegħdu fuq

il-Mejda tal-Kamra tad-Deputati.

(3) (a)

Fi żmien sitt xhur qabel il-bidu ta’ kull sena

finanzjarja, il-Bord, b’konsultazzjoni mal-Arbitru, għandu jipprepara

għal sena pjan strateġiku fil-forma ta’ rapport stabbilit mill-Bord. Il-

Bord għandu japprova dak il-pjan strateġiku.

(b)

Ir-rapport għandu jispeċifika

(i) l-għanijiet tal-attivitajiet tal-Uffiċċju għas-sena

finanzjarja kkonċernata;

(ii) ix-xorta u l-iskop tal-attivitajiet li għandhom

jitwettqu;

(iii) il-miri u l-kriterji sabiex tiġi evalwata l-

prestazzjoni tal-Uffiċċju; u

(iv) kif ser ikunu utilizzati r-riżorsi tal-Uffiċċju.

(ċ)

Kopja

tal-pjan

strateġiku

għandha

tintbagħat

minnufih lill-Ministru.

(d) Kopja ta’ dak ir-rapport għandha titqiegħed fuq il-

Mejda tal-Kamra tad-Deputati u għandha tkun disponibbli għall-

pubbliku.

(4) Il-kontenut u materji oħra relatati mal-estimi kif ukoll il-

pjan strateġiku msemmija fis-subartikoli (2) u (3) jistgħu jiġu

preskritti b’regolamenti magħmula taħt dan l-Att.

(5) Iċ-Chairperson tal-Bord għandu jipprovdi lill-Ministru

dawk ir-rapporti li jkollhom x’jaqsmu mal-attivitajiet tal-Bord u tal-

Uffiċċju kif il-Ministru jista’ jitlob minn żmien għal żmien

Iżda r-rapporti m’għandhomx jiżvelaw dettalji jew

kummenti dwar kull ilment li ma jkunx għadu ġie deċiż mill-Arbitru.

TAQSIMA III

L-Uffiċċju tal-Arbitru

Gazzetta tal-Gvern ta' Malta — Att 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta.

Art. 10 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta. Open official source

(1)

Għandu jitwaqqaf Uffiċċju tal-Arbitru għas-Servizzi L-Uffiċċju tal-

Arbitru għas-

Finanzjarji.

Servizzi

Finanzjarji.

(2) L-Uffiċċju għandu jkun kompost mill-Bord, l-Arbitru u l-

Arbitru sostitut, jekk ikun hemm, u minn dawk l-uffiċjali u membri

tal-persunal maħtura jew impjegati mill-Uffiċċju.

Gazzetta tal-Gvern ta' Malta — Att 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta.

Art. 11 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta. Open official source

(1) Mingħajr preġudizzju għall-funzjonijiet tal-Arbitru Funzjonijiet tal-

Uffiċċju.

taħt dan l-Att, għandha tkun il-funzjoni tal-Uffiċċju li

(a)

jittratta ilmenti li jkunu tressqu minn klijenti

eliġibbli;

(b) javża lill-pubbliku permezz ta’ mezzi elettroniċi u,

meta jkun possibbli, b’linji gwida bil-miktub dwar il-

funzjonijiet mwettqa mill-Uffiċċju, id-dettalji ta’ kuntatt tal-

Uffiċċju, il-proċedura segwita mill-Uffiċċju fir-rigward ta’

ilmenti, u informazzjoni oħra li jkollha x’taqsam mal-Uffiċċju

bil-għan li tinforma lill-pubbliku fuq is-servizzi offruti mill-

Uffiċċju;

(ċ)

jipprovdi

lill-partijiet

fi

proċedimenti

l-

informazzjoni msemmija fis-subartikolu (2) b’mezz durabbli;

(d) jipprovdi l-mezzi sabiex jippermetti lil klijent

jippreżenta l-ilment b’mezz elettroniku jew b’dokumentazzjoni

mibgħuta rreġistrata permezz tas-servizz tal-posta jew kurrier;

(e)

jipprovdi l-mezzi sabiex jippermetti l-iskambju ta’

informazzjoni bejn il-partijiet f’tilwima b’mezzi elettroniċi jew

bil-konsenja rreġistrata permezz tas-servizz tal-posta jew

kurrier;

(f)

jiżgura li l-ipproċessar ta’ data personali tkun

konformi mar-regoli tal-protezzjoni ta’ data personali kif

stabbilit taħt l-Att dwar il-Protezzjoni u l-Privatezza tad-Data;

(g) jistabbilixxi regoli u linji gwida fir-rigward tal-

implimentazzjoni tar-regolamenti magħmula skont l-artikolu

33; u

(h) jaqdi dawk il-funzjonijiet l-oħra kif huma assenjati

lilu taħt dan l-Att jew kull liġi oħra.

(2) L-Uffiċċju jista’ jiddelega bil-miktub lil kull persuna

impjegata mal-Uffiċċju, kull funzjoni tiegħu taħt dan l-Att, ħlief għal

din is-setgħa ta’ delegazzjoni.

Gazzetta tal-Gvern ta' Malta — Att 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta.

Art. 12 Responsabbiltà tal-Uffiċċju. — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta. Open official source

(1) L-Uffiċċju għandu jkun responsabbli lejn il-Ministru

għall-qadi tad-dmirijiet tiegħu.

(2) (a)

L-Uffiċċju għandu jiżgura li jinżammu rekords ta’

kontabilità xierqa, fil-forma stabbilita mill-Bord, li jkunu jirriflettu t-

transazzjonijiet finanzjarji ta’ jew li jkollhom x’jaqsmu mal-Uffiċċju.

(b) Il-kontijiet tal-Uffiċċju għandhom jiġu approvati

mill-Bord.

(ċ)

Rekords tal-kontijiet u ta’ kull transazzjoni

għandhom jinżammu għal perjodu ta’ għaxar snin.

(d) Il-kontijiet u transazzjonijiet tal-Uffiċċju għandhom

jiġu verifikati mill-Awditur Ġenerali, u l-Uffiċċju għandu jkun

soġġett għall-Att dwar l-Amministrazzjoni Finanzjarja u l-

Verifika.

(3) Il-kontenut u materjal ieħor li jkollhom x’jaqsmu mal-

kontijiet imsemmija taħt is-subartikolu (2) jistgħu jiġu preskritti

b’regolamenti magħmulin taħt dan l-Att.

Gazzetta tal-Gvern ta' Malta — Att 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta.

Art. 13 Finanzjament tal-Uffiċċju. — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta. Open official source

Il-fondi tal-Uffiċċju għandhom jikkonsistu

(a) fil-fondi provduti lill-Uffiċċju wara estimi preparati

mill-Bord u approvati mill-Ministru skont l-artikolu 9(2)(d);

(b)

fil-fondi li jakkumulaw lill-Uffiċċju minn kull sors

ieħor.

Gazzetta tal-Gvern ta' Malta — Att 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta.

Art. 14 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta. Open official source

(1) Il-Ministru għandu jaħtar Arbitru minn fost persuni Ħatra ta’

Arbitru.

li jkun jidher lilu li jkunu kwalifikati li jaqdu din il-funzjoni.

(2) Persuna għandha tkun eliġibbli għall-ħatra ta’ Arbitru jekk

ikollha l-kompetenza meħtieġa f’materji li jirrigwardaw il-

konsumatur fir-rigward ta’ servizzi finanzjarji, inkluż għarfien

ġenerali tal-liġi.

(3) Persuna ma tkunx eliġibbli għall-ħatra bħala Arbitru jekk

hi tkun

(a)

Membru tal-Kamra tad-Deputati jew Membru tal-

Parlament Ewropew jew Sindku jew Kunsillier fuq Kunsill

Lokali; jew

(b)

uffiċjal pubbliku; jew

(ċ)

membru jew impjegat ma’ xi aġenzija, entità tal-

Gvern jew awtorità lokali; jew

(d) persuna misjuba ħatja ta’ xi reat li jaffettwa l-fiduċja

tal-pubbliku, jew ta’ reat, ħlief għal reat involontarju, li jkun

punibbli bi priġunerija għal żmien ta’ mill-inqas sena.

(4) L-Arbitru m’għandu jkollu l-ebda kariga li ma tkunx

kompatibbli mal-qadi korrett tad-dmirijiet uffiċjali tiegħu, bl-

imparzjalità u l-indipendenza tiegħu, jew bil-fiduċja tal-pubbliku fih.

(5) L-Arbitru għandu jiddikjara li, u jfittex l-approvazzjoni

tal-Ministru għal, kull kariga, trusts jew sħubijiet li l-Arbitru jqis li

ma jaffettwawx l-imparzjalità u l-indipendenza u l-fiduċja tal-

pubbliku fil-qadi ta’ dmirijietu taħt dan l-Att.

(6) Meta jinħatar, l-Arbitru għandu jieħu dan il-ġurament tal-

kariga

"Jien ................................. naħlef / niddikjara solennement

li ser inwettaq il-funzjonijiet ta’ Arbitru onestament,

imparzjalment, bid-diliġenza dovuta, u mingħajr biża’ jew favur

skont il-liġi.".

Gazzetta tal-Gvern ta' Malta — Att 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta.

Art. 15 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta. Open official source

(1) L-Arbitru għandu jżomm il-kariga għal perjodu ta’ Il-perjodu tal-

kariga.

seba’ snin li warajh m’għandux ikun eliġibbli li jerġa’ jinħatar.

(2) L-Arbitru jista’ jirriżenja mill-kariga b’ittra indirizzata lill-

Ministru.

(3) Il-ħatra, it-tmiem tal-kariga jew ir-riżenja tal-Arbitru,

inkluż ir-raġunijiet għal dak it-tmiem jew riżenja kif ikun japplika,

għandhom jiġu ppubblikati fil-Gazzetta.

Malta Government Gazette — Act 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the

Art. 16 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the Open official source

PART II

The Board of Management and Administration

3. (1) There shall be established a Board, to be known as

the Board of Management and Administration, which shall be

responsible for the management and administration of the Office of

the Arbiter for Financial Services.

(2) The Board shall be composed of three members, including

the Chairperson, who shall be appointed by the Minister, a member,

who shall also be appointed by the Minister, and another member who

shall be appointed by the Minister responsible for Consumer Affairs.

(3) The Minister shall appoint a Chairperson who has

knowledge or experience of consumer issues relating to the provision

of financial services.

(4) The Minister shall select the members of the Board from

among persons who appear to him to be qualified to be so selected.

(5) The members of the Board shall exercise their functions

under this Act in their individual judgement and they shall not be

subject to the direction or control of any other person or authority in

the exercise of such functions.

4. (1) The members of the Board shall hold office for a

period of up to five years, and a member shall, on ceasing to be a

member, be eligible for reappointment.

(2) The members of the Board shall be entitled to such

remuneration as the Minister may from time to time determine.

5. The Chairperson and any member of the Board may be

removed by the Minister on the ground of proved inability to continue

to perform his duties or on proved misbehaviour.

6. (1) Any member of the Board may resign from his

office by letter addressed to the Minister.

(2) The appointment, termination of office or resignation of

any person as a member of the Board, including the reasons for such

termination or resignation as applicable, shall be published in the

Gazette.

7. (1) The Board shall appoint a secretary for such period Secretary to the

Board.

and under such terms as the Board shall deem appropriate.

(2) It shall be the duty of the Secretary to make the necessary

preparations for the meetings of the Board and to keep minutes of

these meetings.

(3) The Secretary shall also perform any function that may be

delegated to him in writing by the Board from time to time.

8. (1)

It shall be the function of the Board

Functions of the

Board.

(a)

to provide support in administrative matters to the

Arbiter in the exercise of his functions when the Arbiter so

requests;

(b) to keep under review the efficiency and

effectiveness of the Office and to advise the Minister, either on

the Minister’s request or on its own initiative, on any matter

relevant to the operation of the Office;

(c)

to assist the Arbiter on any matter on which the

Arbiter seeks advice;

(d) to recommend to the Minister the levies and charges

to be payable for the performance of services provided by the

Office;

(e)

to advise the Minister on the making of rules

regarding the payment of levies and charges to be paid by

different categories of persons to the Office, the amounts of

those levies and charges, the periods within which specified

levies or charges are to be paid, and penalties that are payable

by a person who fails to pay on time or pay in full the amount

due;

(f)

to keep a record of the persons who are liable to pay

a specified levy or charge, and the returns actually received by

the Office;

(g)

to collect and recover the levies and charges due;

(h) to advise the Minister on the making of rules, either

on its own initiative or at the request of the Arbiter, to determine

the manner and requirements, including any fees payable

therefor, for registration of any document under this Act;

(i)

to determine accounting policies which are to be

followed by the Office when keeping accounting records;

(j)

to determine the form of the annual report to be

drawn by the Arbiter on an annual basis;

(k) to determine the form of the report with estimates of

income and expenditure to be drawn by the Board on an annual

basis;

(l)

to determine the form of the report relating to the

strategic plan to be drawn by the Board on an annual basis;

(m) to perform such functions or activities as are

assigned to it by this Act;

(n) to determine any service which shall be deemed as

an additional financial service that may be subject to

consideration by the Arbiter; and

(o) to perform any other function supplementary or

ancillary to the above.

(2) In the discharge of its function under sub-article (1)(f), the

Board may bring proceedings before the Civil Court to recover as a

debt an amount of levy or charge due to the Office.

(3) The legal representation of the Board shall vest in the

Chairperson

Provided that the Board may designate any one or more of

the other members of the Board to appear in the name and on behalf

of the Board in any judicial proceedings and to sign for and on its

behalf any other act, instrument or other document whatsoever.

(4) It shall not be the function of the Board to intervene in any

way on the manner how the Arbiter deals with the merits of a

particular complaint.

9. (1) The Board shall be accountable to the Minister for

the discharge of its duties.

(2) (a)

Within a period of six months immediately

preceding the beginning of each financial year, the Board, in

consultation with the Arbiter, shall prepare, in the form established by

the Board, a statement with estimates of income and expenditure

relating to the Office for the forthcoming financial year. Such

estimates shall be approved by the Board.

(b)

The statement shall specify

(i)

the amounts expected to be collected and

recovered during the financial year concerned from the

imposition of levies and fees;

(ii) any other sources from which funds are

expected to be obtained during that year to finance the

Office’s activities and the amounts expected to be raised

from those sources; and

(iii) the activities which the Office proposes to

undertake during that year;

(c)

A copy of the estimates shall be sent forthwith to the

Minister.

(d) The Minister shall, at the earliest opportunity and

not later than six weeks after he has received a copy of the estimates

from the Board, approve the same with or without amendments.

(e)

Such estimates are to be laid on the Table of the

House of Representatives.

(3) (a)

Within six months before the beginning of each

financial year, the Board, in consultation with the Arbiter, shall

prepare for the year a strategic plan in the form of a report established

by the Board. The Board shall approve such strategic plan.

(b)

The report shall specify

(i)

the objectives of the activities of the Office

for the financial year concerned;

(ii) the nature and scope of the activities to be

undertaken;

(iii) the targets and criteria for assessing the

performance of the Office; and

(iv) the uses for which it is proposed to apply the

Office’s resources.

(c)

A copy of the strategic plan shall be sent forthwith

to the Minister.

(d) A copy of such report shall be laid on the Table of

the House of Representatives and shall be made available to the

public.

(4) The content and other matters relating to the estimates and

strategic plan mentioned in sub-articles (2) and (3) may be prescribed

by regulations made under this Act.

(5) The Chairperson of the Board shall provide the Minister

with such reports relating to the activities of the Board and the Office

as the Minister may require from time to time

Provided that the reports shall not disclose particulars or

comments on any complaint that has not been determined by the

Arbiter.

PART III

The Office of the Arbiter

10. (1) There shall be established an Office of the Arbiter

for Financial Services.

(2) The Office shall consist of the Board, the Arbiter and the

substitute Arbiter, if any, and of such officers and staff members

appointed or employed with the Office.

11. (1) Without prejudice to the functions of the Arbiter

under this Act, it shall be the function of the Office

(a)

to deal with complaints filed by eligible customers;

(b) to inform the public through electronic means and,

where possible, by written guidelines on the functions carried

out by the Office, the contact details of the Office, the procedure

followed by the Office in relation to complaints, and other

information concerning the Office aimed at informing the public

on the services offered by the Office;

(c)

to provide the parties to proceedings with the

information referred to in sub-article (2) on a durable medium;

(d) to provide the means to enable the customer to

submit a complaint electronically or by recorded delivery

through the post or courier service;

(e)

to provide the means to enable the exchange of

information between the parties to a dispute via electronic

means or by recorded delivery through the post or courier

service;

(f)

to ensure that the processing of personal data

complies with the rules on the protection of personal data as

established under the Data Protection Act;

(g) to establish rules and guidelines in relation to the

implementation of the regulations made in terms of article 33;

and

(h) to carry out such other functions as are assigned to it

under this Act or any other law.

(2) The Office may delegate in writing to any person engaged

with the Office, any of its functions under this Act, except this power

of delegation.

12. (1) The Office shall be accountable to the Minister for Accountability

of the Office.

the discharge of its duties.

(2) (a)

The Office shall ensure that proper accounting

records, in the form established by the Board, are kept which reflect

the financial transactions of or relating to the Office.

(b)

The accounts of the Office shall be approved by the

Board.

(c)

Accounting records shall be retained for a period of

ten years.

(d) The accounts of the Office shall be audited by the

Auditor General, and the Office shall be subject to the Financial Cap. 174.

Administration and Audit Act.

(3) The content and other matter relating to the accounts

mentioned under sub-article (2) may be prescribed by regulations

made under this Act.

13. The funds of the Office shall consist of

Funding of

Office.

(a) the funds provided to the Office following estimates

prepared by the Board and approved by the Minister in

accordance with article 9(2)(d);

(b)

the funds accruing to the Office from any other

source.

14. (1) The Minister shall appoint an Arbiter from among Appointment of

persons who appear to him to be qualified and suitable to be so Arbiter.

appointed.

(2) A person shall be eligible for appointment as an Arbiter if

he possesses the necessary expertise in consumer related issues in

respect of financial services, including a general understanding of

law.

(3) A person shall not be eligible for appointment as an

Arbiter if he is

(a) a Member of the House of Representatives or a

Member of the European Parliament or a Mayor or a Councillor

on a Local Council; or

(b)

a public officer; or

(c)

a member or employee of an agency, government

entity or local authority; or

(d) a person convicted of any offence affecting public

trust, or of an offence, other than an involuntary offence, which

is punishable by imprisonment for a term of at least one year.

(4) The Arbiter shall not hold any position which is

incompatible with the correct performance of his official duties, with

his impartiality and independence, or with public confidence therein.

(5) The Arbiter shall declare to, and seek the approval of, the

Minister to any positions, trusts or memberships which the Arbiter

considers do not affect impartiality or independence and public

confidence, and which it is desired to retain during his term of office.

(6) On appointment, an Arbiter shall take an oath of Oath of

Office in the form hereunder

"I ................................... swear/solemnly affirm that I shall

perform my duties as Arbiter honestly, impartially, with due

diligence, and without fear or favour according to law.".

15. (1) The Arbiter shall hold office for a period of seven

years after which he shall not be eligible for re-appointment.

(2) The Arbiter may resign his office by letter addressed to the

Minister.

(3) The appointment, termination of office or resignation of

the Arbiter, including the reasons for such termination and

resignation as applicable, shall be published in the Gazette.

16. (1)

The Minister may -

Appointment of

a substitute

Arbiter.

(a) at any time during the illness or absence of the

Arbiter, or

(b) for any other temporary purpose where the Arbiter

considers it necessary not to mediate, investigate and adjudicate

complaint/s because of circumstances due to which he deems it

appropriate to abstain,

appoint a substitute Arbiter in accordance with this article, and such

substitute Arbiter shall be paid such remuneration, calculated pro rata

on a time basis on the amount payable to the Arbiter.

(2) The power conferred by sub-article (1)(b) shall be

exercised only on a declaration signed by the Arbiter to the effect

that, in his opinion, it is necessary for the due conduct of the business

of the Arbiter under this Act that a substitute Arbiter should be

temporarily appointed.

(3) An Arbiter appointed under this article on account of the

illness or absence of the Arbiter shall hold office until the resumption

of office of the Arbiter, and every substitute Arbiter appointed for a

temporary purpose shall hold office until he performs the function

assigned to him.

(4) (a)

A person shall not be qualified to be approved as

Arbiter under this article if he is disqualified to be appointed as

Arbiter under article 14.

(b) The provisions of article 14(4), (5) and (6) shall

apply to a person appointed under this article.

Malta Government Gazette — Act 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the

Art. 17 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the Open official source

(1) A person shall be disqualified from remaining as an Disqualification

Arbiter and may be removed from Office by the Minister on the or

office.

ground of proved inability to perform the functions of his office,

whether arising from inability of body or mind or on the ground of

proved misbehaviour

Provided that in taking a decision to remove any person

from the office of Arbiter under this article, the Minister shall act in

accordance with the principles of natural justice.

(2) The decision of the Minister to remove a person from the

office of Arbiter shall be subject to appeal to the Court of Appeal by

application to be filed in the said Court within ten days from the

notification of the decision to the Arbiter.

(3) The Court of Appeal shall order the service of the

application filed in terms of sub-article (2) upon the Minister who

shall have ten days within which to file a reply.

(4) An appeal filed in terms of this article shall be heard with

urgency and shall be determined by judgement within four months

from the filing of the reply or from the date when the period for the

filing of the reply shall have lapsed.

(5) The Court of Appeal may, upon a demand of the Minister

or of the Arbiter shorten the time limits provided for in this article for

the filing of the appeal and the reply.

Malta Government Gazette — Act 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the

Art. 18 Remuneration. — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the Open official source

(1) The Arbiter shall be entitled to such salary and

allowances as the Minister may by order in the Gazette establish and

such remuneration shall be a charge on the Consolidated Fund.

(2) The salary and allowances payable to an Arbiter shall not

be diminished during the continuance of the Arbiter’s appointment.

Malta Government Gazette — Act 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the

Art. 19 Functions and powers of Arbiter for Financial Services. — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the Open official source

(1) It shall be the primary function of the Arbiter to deal

with complaints filed by eligible customers through the means of

mediation in accordance with article 24, and where necessary, by

investigation and adjudication.

(2) In addition to the functions under sub-article (1), it shall be

the function of the Arbiter

(a) to establish rules and guidelines in relation to the

implementation of the regulations made in terms of article 33;

(b) to carry out such other functions as may be assigned

to him under this Act or any other law.

(3) In carrying out his functions under sub-article (1), the

Arbiter shall

(a) act independently and impartially, and shall not be

subject to the direction or control of any other person or

authority;

(b) determine and adjudge a complaint by reference to

what, in his opinion, is fair, equitable and reasonable in the

particular circumstances and substantive merits of the case;

(c)

consider and have due regard, in such manner and to

such an extent as he deems appropriate, to applicable and

relevant laws, rules and regulations, in particular those

governing the conduct of a service provider, including

guidelines issued by national and European Union supervisory

authorities, good industry practice and reasonable and

legitimate expectations of consumers and this with reference to

the time when it is alleged that the facts giving rise to the

complaints occurred;

(d) deal with a complaint in a procedurally fair,

informal, economical and expeditious manner;

(e)

deal with any question of prescription in terms of

law

Provided that the financial services provider may only

raise the plea of prescription in the first written submissions

provided for by article 25(3)(b) unless otherwise authorised by

the Arbiter giving reasons for that authorisation

Provided further that the Arbiter shall not be entitled to

raise the question of prescription of his own motion

Provided further that nothing in this Act shall be interpreted

as entitling the Arbiter to give a decision on any claim which is

barred by prescription when the investigated party shall have

raised the defense of prescription.

(4) (a)

Subject to the limitations imposed by this Act or any

other law, the Arbiter shall have all powers that are necessary to

enable him to perform his functions properly including the power to

summon witnesses, to administer oaths and to issue such

interlocutory orders, including but not limited to orders restricting the

transfer of property and assets of a financial services provider as he

may deem necessary for the proper performance of the functions of

his office. An Arbiter shall abstain and may be challenged in the same

circumstances as a Judge of the Superior Courts

Provided that in issuing interlocutory orders under this

paragraph, the Arbiter shall act mutatis mutandis in accordance with

the principles regulating the issuing of precautionary warrants under

the Code of Organization and Civil Procedure.

(b) (i) An Arbiter may appoint one or more suitable

officers to perform specific functions assigned to him under sub-

article (1).

(ii) A person shall be suitable to be appointed as an

officer under sub-paragraph (i) if he is knowledgeable and well

versed in those areas for which he shall be appointed.

(c)

An Arbiter may, subject to availability of resources,

appoint and employ such number of office staff members which are

necessary for the proper functioning of the Office.

(d) An Arbiter may, whenever the occasion requires and

subject to availability of resources, engage such consultants or

advisers to assist him in the fulfilment of his functions

Provided that such consultants or advisors shall

themselves be independent and impartial of the parties to the

complaint or complaints in respect of which they shall have been

engaged.

(5) Any person appointed under sub-article (4) shall

(a) carry out his duties free from any interference from

any person except for any direction given by the Arbiter;

(b)

act expeditiously;

(c)

not divulge any information acquired by him in the

course of his duties;

(d) periodically report to the Arbiter the progress made

with regard to the complaints assigned to him and on any other

matter which falls within his competence.

(6) (a)

The appointment, engagement and employment of

persons mentioned under sub-article 4(b) to (d) shall be made by the

Arbiter, and the terms and conditions shall be established by the

Board in consultation with the Minister.

(b) In establishing the terms and conditions, the Board

shall have regard to the Government’s policy with respect to the

remuneration of public sector employees and any direction that the

Minister may give from time to time for the purpose of giving effect

to that policy.

Malta Government Gazette — Act 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the

Art. 20 Accountability of Arbiter. — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the Open official source

(1)(a) An Arbiter shall ensure that on a yearly basis his

Office prepares an annual report, in the form established by the

Board, specifying the activities of the Office during that year, and

shall submit the report within six months from the end of each year to

the Board for its approval

Provided that the report shall not disclose particulars

or comments on any complaint that has not been determined by the

Arbiter.

(b) The report shall contain a summary of all complaints

made to, and decisions taken by, the Arbiter during the preceding

financial year and of the results of the investigations into those

complaints, and a review of the trends and patterns observed in the

submission of complaints to the Arbiter. Statistical information

referring to the name of service providers against whom res judicata

decisions were given may be provided.

(c)

A copy of the annual report is to be laid on the Table

of the House of Representatives and shall be made accessible to the

public in such a manner as the Board may determine.

(2) The content and other matters relating to the report

mentioned under sub-article (1) may be prescribed by regulations

made under this Act.

PART IV

Competence

Malta Government Gazette — Act 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the

Art. 21 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the Open official source

(1) (a)Nothing in this Act shall imply that a complaint Competence of

relating to the conduct of a financial service provider is to be Arbiter.

exclusively regulated by the provisions of this Act

Provided that findings and conclusions reached by an

Arbiter following a complaint filed in terms of this Act shall be

binding on the parties, save for the right of appeal regulated by article

Gazzetta tal-Gvern ta' Malta — Att 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta.

Art. 22 Proċedimenti relatati ma’ lmenti. — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta. Open official source

(1) Persuna li tkun qed tagħmel l-ilment għandha

tressaq ilment quddiem l-Arbitru bil-miktub fejn tidentifika l-parti li

kontriha jkun sar l-ilment, ir-raġunijiet għall-ilment, u r-rimedju li

jkun qed jintalab u l-artikoli 2131 u 2132 tal-Kodiċi Ċivili għandhom

japplikaw mutatis mutandis għall-interruzzjoni tal-preskrizzjoni sa

minn mindu l-Arbitru jirċievi l-ilment. Ir-referenza ta’ kull ħaġa lill-

Arbitru għandha, għal dak li għandu x’jaqsam mal-preskrizzjoni,

ikollha l-istess effett ta’ azzjoni ġudizzjarja quddiem qorti kompetenti u

l-artikolu 2117A tal-Kodiċi Ċivili għandu japplika mutatis mutandis.

Kull referenza għall-preskrizzjoni f’dan l-Att għandha tinftiehem bħala

referenza għall-preskrizzjoni taħt il-Kodiċi Ċivili.

(2) Malli jitressaq l-ilment, l-Arbitru għandu jiddeċiedi jekk l-

ilment jaqax fil-kompetenza tiegħu.

(3) Arbitru m’għandux jipproċedi li jittratta lment sakemm l-

Arbitru ma jkunx

(a)

avża lill-persuna li kontriha jkun qed isir l-ilment bl-

ilment;

(b) ipprovda lill-persuna li kontriha jkun qed isir l-

ilment dawk id-dettalji li jkunu jippermettulha li tagħti risposta

fuq l-ilment; u

(ċ)

ipprovda lill-persuna li kontriha jkun qed isir l-

ilment opportunità li tippreżenta r-risposta għall-ilment. Dik ir-

risposta għandha tintbagħat lill-Arbitru fi żmien għoxrin

ġurnata minn meta l-Arbitru jikkomunika l-ilment lill-persuna li

kontriha jkun qed isir l-ilment.

Il-persuna li tkun qed tagħmel l-ilment u l-persuna li

kontriha jkun qed isir l-ilment għandhom dritt li jkunu rappreżentati u

assistiti minn persuna jew persuni tal-fiduċja tagħhom.

(4) Arbitru jista’ jagħmel inkjesta preliminari għall-fini li

jiddeċiedi jekk ilment għandux jiġi investigat taħt din it-Taqsima, u

jista’ jitlob lill-persuna li tkun qed tagħmel l-ilment sabiex tipprovdi

informazzjoni ulterjuri f’perjodu ta’ żmien speċifikat

Iżda l-Arbitru jista’ jiddeċiedi li ma jkomplix jittratta l-

ilment jekk il-persuna li tkun qed tagħmel l-ilment tonqos milli tkun

konformi ma’ talba biex tagħti informazzjoni ulterjuri fiż-żmien

speċifikat mill-Arbitru.

(5) Kemm jista’ jkun malajr, wara li l-Arbitru jkun iddeċieda li

l-ilment ma jaqax fil-kompetenza tiegħu, jew wara li jiddeċiedi li ma

jkomplix bl-ilment, l-Arbitru għandu

(a)

javża lill-persuna li tkun qed tagħmel l-ilment bil-

miktub bid-deċiżjoni u r-raġunijiet tiegħu;

(b)

jipprovdi lill-Bord kopja tad-deċiżjoni.

(6) Meta jiġi ppreżentat ilment mal-Uffiċċju tal-Arbitru għas-

Servizzi Finanzjarji, il-persuna li tkun qed tagħmel l-ilment għandha

tħallas tariffa kif preskritt taħt dan l-Att, liema tariffa tingħata lura

biss f’każ li l-persuna li tkun qed tagħmel l-ilment tiddeċiedi li tirtira

l-ilment jew iż-żewġ partijiet jilħqu ftehim għat-tilwima, u fiż-żewġ

istanzi l-Arbitru jiġi notifikat bil-miktub bid-deċiżjoni, liema notifika

għandha tilħaq lill-Uffiċċju tal-Arbitru qabel ma l-Arbitru jkun ħa

deċiżjoni dwar jekk l-ilment jaqax fil-kompetenza tiegħu jew le.

(7) Jekk -

(a) qabel l-Arbitru, jkun ħa deċiżjoni, il-persuna li tkun

qed tagħmel l-ilment tavża lill-Arbitru bil-miktub bl-irtirar tal-

ilment tagħha; jew

(b) il-partijiet jilħqu ftehim għat-tilwima, kemm jekk

b’riżultat ta’ medjazzjoni skont l-artikolu 24 jew xort’oħra; jew

(ċ)

it-tkomplija tal-proċeduri tal-ilment għal xi raġuni

ma jibqgħux meħtieġa jew possibbli,

l-Arbitru għandu

(i)

jew joħroġ ordni għat-tmiem tal-proċedimenti tal-

ilment; jew

(ii) jekk mitlub miż-żewġ partijiet u jiġi aċċettat mill-

Arbitru, jirreġistra l-ftehim dwar it-termini miftiehma.

(8) Bla ħsara għad-dispożizzjonijiet ta’ dan l-Att u ta’ kull

regola magħmula hawn taħt kif imsemmi fl-artikolu 33, l-Arbitru

għandu jirregola l-proċedimenti kif jidhirlu xieraq skont ir-regoli ta’

ġustizzja naturali

Iżda l-ebda proċedimenti quddiem l-Arbitru m’għandhom

ikunu invalidi minħabba f’xi nuqqas ta’ osservanza ta’ xi

formalitajiet jekk kien hemm konformità sostantiva mal-liġi.

Gazzetta tal-Gvern ta' Malta — Att 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta.

Art. 23 Atti kawtelatorji. — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta. Open official source

(1) Sakemm ma jkunx miftiehem mod ieħor mill-

partijiet, kull parti tista’ titlob lill-Qorti sabiex toħroġ kull att

kawtelatorju

msemmi

fl-artikolu

830(1)

tal-Kodiċi

ta’

Organizzazzjoni u Proċedura Ċivili, bla ħsara għad-dispożizzjonijiet

tas-subartikoli li ġejjin.

(2) Meta, skont is-subartikolu (1), ikun inħareġ att

kawtelatorju, dak l-att għandu jibqa’ fis-seħħ sa dak iż-żmien meta

jiskadi jew jiġi revokat skont id-dispożizzjonijiet tal-Kodiċi ta’

Organizzazzjoni u Proċedura Ċivili jew sa dak iż-żmien kif l-Arbitru -

(a)

ikun iddeċieda li l-ilment ma jaqax taħt il-

kompetenza tiegħu, jew wara li jkun iddeċieda li ma jkomplix

bl-ilment skont l-artikolu 27; jew

(b) wara li jkun ħa deċiżjoni dwar l-ilment, ikun ordna

lill-parti li tkun ħarġet l-att kawtelatorju li tirtira l-istess u

toħroġ il-kontro-mandat relattiv.

(3) Minkejja dak kollu li jinsab fil-Kodiċi ta’ Organizzazzjoni

u Proċedura Ċivili, iż-żmien stabbilit li fih l-azzjoni għandha tiġi

istitwita fir-rigward tad-dritt imsemmi fl-att kawtelatorju maħruġ,

għandu jkun ta’ għoxrin ġurnata minn meta l-att ġudizzjarju ġie

preżentat fejn il-Qorti tkun mitluba li toħroġ l-att kawtelatorju. Id-

dispożizzjonijiet tal-Kodiċi msemmi għall-estensjoni taż-żmien

imsemmi għandu japplika wkoll.

(4) Azzjoni kif imsemmi fis-subartikolu (3) għandha titqies li

tkun ittieħdet, u proċedimenti tal-ilment mal-Arbitru jkunu jitqiesu li

nbdew, meta l-ilment bil-miktub jkun ġie ppreżentat mill-persuna li

tkun qed tagħmel l-ilment lill-Arbitru skont l-artikolu 22(1).

(5) Il-parti li fuq talba tagħha att kawtelatorju jkun inħareġ

skont dan l-artikolu għandha, fiż-żmien speċifikat fis-subartikolu (3),

tippreżenta nota fl-atti tal-proċedimenti għall-ħruġ tal-imsemmi att

kawtelatorju flimkien ma’ ċertifikat maħruġ mill-Arbitru fejn ikun

qiegħed jirrikonoxxi l-ilment tal-parti.

(6) Il-Bord stabbilit taħt l-artikolu 29 tal-Kodiċi ta’

Organizzazzjoni u Proċedura Ċivili jista’ jagħmel regoli li jkollhom

x’jaqsmu ma’ kwistjonijiet ta’ atti kawtelatorji u ordnijiet bħal dawk

meta jkollhom x’jaqsmu ma’ proċedimenti tal-ilmenti ppreżentati lill-

Arbitru.

Gazzetta tal-Gvern ta' Malta — Att 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta.

Art. 24 Medjazzjoni. — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta. Open official source

(1)

Ilment dwar l-imġiba ta’ provditur tas-servizzi

finanzjarji għandu, fejn ikun possibbli, jiġi trattat primarjament

b’medjazzjoni.

(2) Parteċipazzjoni fil-medjazzjoni mill-partijiet għal xi lment

għandha tkun volontarja, u parti tista’ tirtira mill-parteċipazzjoni

f’kull ħin.

(3) Il-proċess tal-medjazzjoni għandu jitwettaq mill-uffiċjali

maħtura mill-Bord taħt l-artikolu 8(1), liema funzjoni għandha tkun li

jaġixxi ta’ medjatur bejn il-persuna li tkun qed tagħmel l-ilment u l-

provditur tas-servizzi finanzjarji. Lista ta’ dawk l-uffiċjali għandha

tinżamm mill-Bord

Iżda li l-medjatur jista’ jabbanduna tentattiv biex isolvi

lment b’medjazzjoni wara li jkun ifforma l-opinjoni li t-tentattiv

x’aktarx li ma jirnexxix.

(4) Bla ħsara għad-dispożizzjonijiet ta’ hawn qabel u għal kull

regolament magħmul taħt is-subartikolu (7), il-medjatur jista’

jirregola l-proċeduri tiegħu.

(5) Il-proċeduri ta’ medjazzjoni għandhom isiru fil-privat u

kull riżoluzzjoni ta’ tilwima li tirriżulta minn medjazzjoni m’għandux

ikollha r-riżoluzzjoni tagħha ppublikata taħt l-ebda format.

(6) Ma jista’ jsir l-ebda appell skont l-artikolu 27 minn kull

ħaġa magħmula minn xi uffiċjal li jkun qed jaġixxi fil-kapaċità tiegħu

bħala medjatur.

(7) Il-Ministru jista’, wara konsultazzjoni mal-Arbitru u l-

Bord, jagħmel regolamenti sabiex jagħti effett aħjar lid-

dispożizzjonijiet ta’ dan l-artikolu u, mingħajr preġudizzju għall-

ġeneralità ta’ dak imsemmi, huwa jista’

(a) jistabbilixxi l-proċedura li għandha tiġi segwita

mill-uffiċjal fil-kapaċità tiegħu bħala medjatur;

(b) jippreskrivi t-tipi ta’ applikazzjonijiet li persuna li

tkun qed tagħmel l-ilment tista’ tirreferi lill-uffiċjal; u

(ċ)

jippreskrivi l-proċedura li għandha tiġi segwita fil-

formulazzjoni ta’ rapport mill-uffiċjal.

Gazzetta tal-Gvern ta' Malta — Att 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta.

Art. 25 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta. Open official source

(1)

Meta l-proċess ta’ medjazzjoni kif stipulat fl- Investigazzjoni.

artikolu 24 ikun mingħajr suċċess, l-Arbitru għandu jgħaddi biex

jittratta l-investigazzjoni meħtieġa fil-privat.

(2) (a)

L-Arbitru għandu jipprovdi lill-partijiet opportunità

li jagħmlu s-sottomissjonijiet tagħhom b’mod orali u, jew bil-miktub

fir-rigward tal-imġiba li minnha jkun qiegħed isir l-ilment.

(b) Sottomissjonijiet bil-miktub għandhom jiġu

ppreżentati fi żmien għoxrin ġurnata, u dak il-perjodu jibda jiddekorri

mill-ġurnata li fiha l-partijiet jirċievu l-komunikazzjoni bil-miktub

dwar l-investigazzjoni mill-Arbitru.

(ċ)

Sottomissjonijiet bil-miktub magħmula minn waħda

mill-partijiet lill-Arbitru għandhom jiġu notifikati lill-parti l-oħra jew

lill-persuna li tkun qed tassisti jew tippreżenta lill-parti skont l-

artikolu 22(3).

(d) Kull meta tintalab notifika jew komunikazzjoni lill-

parti l-oħra taħt dan l-Att, dik in-notifika jew komunikazzjoni

għandha ssir bil-konsenja rreġistrata permezz tas-servizz tal-posta

jew kurrier.

(3) (a)

L-Arbitru għandu jżomm mill-inqas udjenza waħda

għas-smigħ tal-ilment.

(b) L-Arbitru għandu jiddeċiedi l-ammissibbiltà, ir-

rilevanza, il-materjalità u l-piż tax-xhieda dokumentarja u orali.

(ċ)

Is-smigħ għandu jsir fil-pubbliku sakemm l-Arbitru,

b’deċiżjoni li tinkludi r-raġunijiet, ma jiddeċidix mod ieħor.

(d) L-ebda waħda mill-partijiet m’għandha tintalab li

tkun rappreżentata jew assistita għal seduti orali. Jekk parti waħda

biss tkun rappreżentata jew assistita, l-Arbitru għandu jiżgura li s-

smigħ jibqa’ wieħed ġust għaż-żewġ partijiet.

(4) Fil-proċess ta’ investigazzjoni, l-Arbitru għandu javża lill-

partijiet bil-progress li jkun sar.

(5) L-Arbitru jista’ jitlob il-produzzjoni ta’ informazzjoni jew

dokumentazzjoni minn waħda mill-partijiet jew minn terza persuna,

skont kif ikun il-każ, li l-Arbitru jqis meħtieġa jew rilevanti għad-

deċiżjoni dwar l-ilment, liema informazzjoni jew dokumentazzjoni

għandha tiġi provduta qabel it-tmiem ta’ dak il-perjodu raġonevoli kif

l-Arbitru għandu jispeċifika, u fil-każ ta’ informazzjoni, b’dak il-mod

jew forma kif jista’ jiġi speċifikat mill-Arbitru

Iżda bil-għan li jikseb dik l-informazzjoni jew

dokumentazzjoni, l-Arbitru għandu jkollu s-setgħa li jħarrek xhieda u

jamministra ġurament lil kull xhud u lil kull persuna involuta fl-

investigazzjoni, inkluż il-persuna li tkun qed tagħmel l-ilment u l-

provditur tas-servizz, u sabiex jitlob persuni jagħtu xhieda, u r-regoli

tal-Kodiċi ta’ Organizzazzjoni u Proċedura Ċivili għandhom Kap. 12.

japplikaw mutatis mutandis għall-produzzjoni ta’ xhieda quddiem l-

Arbitru

Iżda wkoll kull persuna li tiġi mħarrka biex tidher quddiem

l-Arbitru taħt dan l-artikolu għandu jkollha l-istess drittijiet u obbligi

bħal xhud imħarrek li jidher quddiem il-Qorti ta’ Ġurisdizzjoni Ċivili.

(6) (a)

Informazzjoni miksuba mill-Arbitru jew minn kull

uffiċjal jew persuna fl-Uffiċċju tiegħu matul jew għall-fini ta’ xi

investigazzjoni taħt dan l-Att m’għandhiex tiġi żvelata ħlief għall-

finijiet

(i)

tal-investigazzjoni u ġudizzju;

(ii)

kull rapport magħmul taħt dan l-Att; jew

(iii) kull proċedura li għandha x’taqsam ma’ xi reat taħt

dan l-Att.

(b) L-Arbitru, l-uffiċjali jew persuni fl-Uffiċċju tiegħu

m’għandhomx jiġu msejħa sabiex jagħtu xhieda fi proċedimenti, ħlief

għal kif imsemmi taħt il-paragrafu (a), fuq kwistjonijiet li ġew għall-

konjizzjoni tagħhom matul l-investigazzjoni jew fl-eżekuzzjoni tad-

dmirijiet imwettqa minnhom taħt dan l-Att.

(ċ)

L-artikolu 133 tal-Kodiċi Kriminali għandu japplika Kap. 9.

għal u fir-rigward tal-Arbitru u kull uffiċjal jew persuna fl-Uffiċċju

tiegħu kif japplikaw għal jew fir-rigward ta’ xi uffiċjal pubbliku jew

impjegat kif hemm fl-imsemmi artikolu tal-Kodiċi Kriminali.

(7) Fil-proċess ta’ investigazzjoni, l-Arbitru jista’ jidħol u

jispezzjona kull bini okkupat jew użat mill-provditur tas-servizzi

finanzjarji jew minn kull persuna jew korp li fil-fehma tal-Arbitru

jkun assoċjat mal-provditur tas-servizzi finanzjarji u jispezzjona kull

dokument jew oġġett fil-bini.

Gazzetta tal-Gvern ta' Malta — Att 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta.

Art. 26 — ATT Nru XVI tal-2016 ACT No. XVI of 2016 ATT maħruġ b’liġi mill-Parlament ta’ AN ACT enacted by the Parliament of Malta. Open official source

(1) Wara t-tmiem tal-investigazzjoni tal-ilment taħt l- Teħid ta’

deċiżjoni.

artikolu 25, l-Arbitru għandu jipproċedi biex jieħu deċiżjoni.

(2) L-Arbitru għandu jipproċedi għal deċiżjoni fi żmien

disgħin ġurnata mid-data li fiha jkun wasal l-ilment

Iżda meta l-ilment ikun kumpless fix-xorta tiegħu, l-

Arbitru għandu jagħti r-riżultanzi tiegħu mal-ewwel opportunità li

jkollu liema data ma tkunx aktar tard minn sena mid-data li fiha jkun

wasal l-ilment u għandu javża lill-partijiet involuti bid-data tad-

deċiżjoni mistennija

Iżda wkoll in-nuqqas ta’ tħaris tat-termini stipulati f’dan is-

subartikolu ma għandu jġib ebda nullità.

(3) (a)

Ir-riżultanzi u l-konklużjonijiet milħuqa mill-

Arbitru għandhom jiġu mfassla, bil-miktub, f’deċiżjoni li fiha

jingħataw ir-raġunijiet tal-Arbitru għaliha li tinqara bil-miftuħ mill-

Arbitru f’jum li jiġi debitament notifikat lill-partijiet.

(b) Id-deċiżjoni tista’ tinkludi kull ordni mogħtija taħt

il-paragrafu (ċ).

(ċ)

Jekk l-ilment jinstab totalment jew parzjalment

sostanzjat, l-Arbitru jista’ jordna lill-provditur tas-servizzi finanzjarji

jagħmel waħda jew iżjed minn dawn li ġejjin

(i)

li jirrevedi, jirrettifika, jimmitiga jew ibbidel l-

imġiba li fuqha jkun sar l-ilment jew il-konsegwenzi tagħha;

(ii)

li jagħti raġunijiet jew spjegazzjonijiet għal dik l-

imġiba;

(iii)

li jbiddel xi prattika li jkollha x’taqsam ma’ dik l-

imġiba;

(iv) li jħallas ammont ta’ kumpens għal kull telf ta’

kapital jew dħul jew danni sofferti mill-persuna li tagħmel l-

ilment minħabba fl-imġiba li fuqha jkun sar l-ilment, mingħajr

imgħax jew bl-imgħax, b’dik ir-rata raġonevoli u fil-parametri

stabbiliti bil-liġi kif l-Arbitru jista’ jiddeċiedi, fuq il-flus kollha

jew xi parti mill-flus, u fuq iż-żmien kollu jew xi parti mill-

perjodu bejn id-data li fiha l-imġiba li fuqha jkun sar l-ilment

tkun bdiet u d-data li fiha d-deċiżjoni tal-Arbitru tkun ittieħdet;

(v) li jispeċifika l-perjodu li fih l-ordni għandha

titwettaq mill-provditur tas-servizzi finanzjarji.

(d) Fid-deċiżjoni tiegħu l-Arbitru għandu wkoll

jiddeċiedi fuq l-ispejjeż tal-proċedimenti, minn min għandhom

jitħallsu u, jekk ikun meħtieġ, f’liema proporzjon, skont iċ-

ċirkustanzi tal-każ.

(e)

Fil-każ li provditur ta’ servizzi finanzjarji jsir

insolventi skont it-tifsira mogħtija lil dak it-terminu minn xi liġijiet jew

regolamenti li jkunu jipprovdu għal skema ta’ kumpens għall-

investitur, skema ta’ kumpens għal depożitanti, fond ta’ protezzjoni u

kumpens jew kull skema oħra ta’ kumpens jew fond li jkunu

applikabbli dwar is-settur tal-provdituri ta’ servizzi finanzjarji li għalih

dak il-provditur ta’ servizzi finanzjarji jkun jappartjeni, u bħala

konsegwenza tal-imsemmija insolvenza l-provditur ta’ servizzi

finanzjarji ma jkunx f’qagħda li jħallas il-kumpens li jkun ingħata

b’deċiżjoni tal-Arbitru jew sussegwentement għaliha, min ikun għamel

l-ilment għandu minkejja kull liġi oħra jitħallas sa għoxrin elf euro

mill-imsemmi fond jew skema li jkun jew tkun tapplika fis-settur ta’

provdituri ta’ servizzi finanzjarji li għalih ikun jappartjeni l-provditur

ta’ servizzi finanzjarji.

(4) Fi żmien ħmistax-il ġurnata mid-data meta d-deċiżjoni tal-

Arbitru tiġi notifikata lill-partijiet, kull waħda mill-partijiet,

b’notifika lill-parti l-oħra, tista’ titlob lill-Arbitru jagħti kjarifika tal-

għotja, jew titlob lill-Arbitru sabiex jikkoreġi xi żbalji fil-

komputazzjoni jew klerikali jew żbalji tipografiċi jew żbalji simili li

jkunu jinsabu fid-deċiżjoni tal-Arbitru. L-Arbitru għandu jagħti dik

il-kjarifika jew jagħmel kull korrezzjoni meħtieġa fi żmien ħmistax-il

ġurnata mill-wasla tat-talba ta’ parti.

Malta Government Gazette — Act 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the

Art. 27 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the Open official source

(b) An Arbiter shall have the competence to hear

complaints in terms of his functions under article 19(1) in relation to

the conduct of a financial service provider which occurred on or after

the first of May 2004

Provided that a complaint about conduct which occurred

before the entry into force of this Act shall be made by not later than

two years from the date when this paragraph comes into force.

(c)

An Arbiter shall also have the competence to hear

complaints in terms of his functions under article 19(1) in relation to

the conduct of a financial service provider occurring after the coming

into force of this Act, if a complaint is registered in writing with the

financial services provider not later than two years from the day on

which the complainant first had knowledge of the matters complained

of.

(d)

For the purpose of this sub-article, conduct that is

continuing in nature shall be presumed to have occurred at the time

when it stopped, and conduct that consists of a series of acts or

omissions shall be presumed to have occurred when the last of those

acts or omissions occurred.

(2) An Arbiter shall decline to exercise his powers under this

Act where

(a)

the conduct complained of is or has been the subject

of a law suit before a court or tribunal initiated by the same

complainant on the same subject matter;

Provided that nothing contained in this paragraph

shall be construed as impeding the Arbiter’s competence to

consider complaints which are being dealt with or which have

already been dealt with by the Malta Financial Services

Authority, and the recommendations, rulings, directives or

decisions of the said Authority shall not be considered as having

given rise to a res judicata with respect to the complainant’s

claim; or

(b) it results that the customer failed to communicate

the substance of the complaint to the financial service provider

concerned and has not given that financial service provider a

reasonable opportunity to deal with the complaint prior to filing

a complaint with the Arbiter; or

(c)

the complaint is, in the opinion of the Arbiter,

frivolous or vexatious.

(3) (a)

An Arbiter may not award monetary compensation

in excess of two hundred and fifty thousand euro (€250,000), together

with any additional sum for interest due and other costs, to each

claimant for claims arising from the same conduct.

(b) An Arbiter may, if he considers that fair

compensation requires payment for a larger compensation than that

stipulated in paragraph (a), recommend that the financial service

provider pay the complainant the balance, but such recommendation

shall not be binding on the service provider.

(c)

For the purpose of determining the euro equivalent

of claims for damages against a service provider adjudged by the

Arbiter to have been wholly or in part substantiated, any foreign

currency shall be converted to euro at the middle rate of exchange

published by the Central Bank of Malta on the date of when the

complaint would have been filed with the Office of the Arbiter.

PART V

Proceedings

22. (1) A complainant shall complain to the Arbiter in Procedure

writing identifying the party against whom the complaint is made, the relating

complaints.

reasons for the complaint, and the remedy that is being sought and

articles 2131 and 2132 of the Civil Code shall apply mutatis mutandis Cap. 16.

for the interruption of prescription as from the receipt of such a

complaint by the Arbiter. The referral of any matter to the Arbiter shall

have the same effect with regard to prescription as a judicial action

before a competent court and article 2117A of the Civil Code shall

apply mutatis mutandis. Any reference in this Act to prescription shall

be construed as a reference to prescription under the Civil Code.

(2) Upon receipt of a complaint, the Arbiter shall determine

whether the complaint falls within his competence.

(3) An Arbiter shall not proceed to deal with a complaint

unless the Arbiter has

(a)

informed the respondent of the complaint;

(b) provided the respondent with such particulars as will

enable him to reply thereto; and

(c)

provided the respondent with an opportunity to

submit a reply to the complaint. Such reply shall be forwarded

to the Arbiter within twenty days from when the Arbiter

communicates the complaint to the respondent.

The complainant and the respondent have a right to be

represented and assisted by a person or persons of their trust.

(4) An Arbiter may make preliminary inquiries for the purpose

of deciding whether a complaint should be investigated under this

Part, and may request the complainant to provide further information

within a specified period of time

Provided that the Arbiter may decide not to continue to

deal with the complaint if the complainant fails to comply with a

request for further information within the period specified by the

Arbiter.

(5) As soon as practicable after the Arbiter has determined that

the complaint does not fall within his competence, or after deciding to

discontinue with the complaint, the Arbiter shall

(a)

inform the complainant in writing of the decision

and reasons for it; and

(b)

provide the Board with a copy of the decision.

(6) On submitting a complaint with the Office of the Arbiter

for Financial Services, the complainant shall pay a fee as prescribed

under this Act, and which fee shall be reimbursed only in the case

where the complainant decides to withdraw the complaint or if both

parties agree on a settlement of the dispute, and in both instances the

Arbiter is notified in writing of the decision, which notification shall

reach the Arbiter’s Office before the Arbiter shall have reached a

decision that the complaint falls within his competence.

(7) If -

(a)

before the Arbiter shall have reached a decision, the

complainant notifies the Arbiter in writing of the withdrawal of

its complaint; or

(b) the parties agree on a settlement of the dispute,

whether as a result of mediation in terms of article 24 or

otherwise; or

(c)

the continuation of the complaint procedures

becomes unnecessary or impossible for any reason,

the Arbiter shall

(i)

either issue an order for the termination of the

complaint procedures; or

(ii) if requested by both parties and accepted by the

Arbiter, record the settlement on the agreed terms.

(8) Subject to the provisions of this Act and of any rules made

thereunder as stipulated by article 33, the Arbiter shall regulate the

proceedings as he thinks fit and proper in accordance with the rules of

natural justice

Provided that no proceedings before the Arbiter shall be

invalid because of any non-observance of any formalities if there has

been substantive compliance with the law.

23. (1) Unless otherwise agreed by the parties, any party

may request the court to issue any of the precautionary acts listed in

article 830(1) of the Code of Organization and Civil Procedure,

subject to the provisions of the following sub-articles.

(2) Where in accordance with sub-article (1) a precautionary

act has been issued, such act shall remain in force until such time as it

shall expire or be revoked in accordance with the provisions of the

Code of Organization and Civil Procedure or until such time as the Cap. 12.

Arbiter -

(a) shall have determined that the complaint does not

fall within his competence, or after deciding to discontinue with

the complaint in terms of article 22; or

(b) having adjudged the complaint, shall order the party

issuing the precautionary act to withdraw the same and issue the

relative counter-warrant.

(3) Notwithstanding anything contained in the Code of Cap. 12.

Organization and Civil Procedure the time established therein within

which the action is to be instituted in respect of the right stated in the

precautionary act issued shall be of twenty days from the filing of the

judicial act whereby the court is requested to issue the precautionary

act. The provisions of the said Code for the extension of the said time

shall also apply.

(4) Action as is referred to in sub-article (3) shall be deemed to

have been taken, and complaint procedures with the Arbiter shall be

deemed to have commenced, when the complaint in writing is

submitted by the complainant to the Arbiter in terms of article 22(1).

(5) The party at whose request a precautionary act has been

issued in accordance with this article shall, within the time specified

in sub-article (3), file a note in the records of the proceedings for the

issue of the said precautionary act together with a certificate issued by

the Arbiter acknowledging the party’s complaint.

(6) The Board established under article 29 of the Code of Cap. 12.

Organization and Civil Procedure may make rules concerning all

matters relating to the issue of precautionary acts and other such

orders when they relate to complaint procedures submitted to the

Arbiter.

24. (1) A complaint about the conduct of a financial Mediation.

services provider shall, as far as possible, be primarily dealt with by

mediation.

(2) Participation in the mediation by the parties to a complaint

shall be voluntary, and a party may withdraw from participation at

any time.

(3) The mediation process shall be carried out by the officers

appointed by the Board under article 8(1), whose function shall be to

act as a mediator between the complainant and the financial services

provider. A list of such officers shall be held by the Board

Provided that the mediator may abandon an attempt to

resolve a complaint by mediation on forming the view that the

attempt is not likely to succeed.

(4) Subject to the foregoing provisions and to any regulations

made under sub-article (7), the mediator may regulate his own

proceedings.

(5) The mediation process shall proceed in private and any

resolution of a dispute as a result of mediation shall not have the

resolution thereof published under any format.

(6) No appeal shall lie in terms of article 27 from anything

done by an officer acting in his capacity as mediator.

(7) The Minister may, after consultation with the Arbiter and

the Board, make regulations to give better effect to the provisions of

this article and, without prejudice to the generality of the foregoing,

he may

(a) establish the procedure to be followed by the officer

in his capacity as mediator;

(b) prescribe the types of applications which a

complainant may refer to the officer; and

(c)

prescribe the procedure to be followed in the

formulation of a report by the officer.

25. (1) Where the mediation process under article 24 proves

unsuccessful, the Arbiter shall proceed to deal with the necessary

investigations in private.

(2) (a)

The Arbiter shall provide the parties with an

opportunity to make oral and, or written submissions with respect to

the conduct complained of.

(b) Written submissions shall be filed within twenty

days, and such period shall commence to run from the day on

which the parties receive communication in writing about the

investigation from the Arbiter.

(c)

Written submissions made by a party to the Arbiter

shall be notified to the other party or to the person assisting or

representing the party in terms of article 22(3).

(d) Whenever a notification or communication to the

other party shall be required under this Act, such notification or

communication shall take place by recorded delivery through

the post or courier service.

(3) (a)

The Arbiter shall hold at least one sitting for the

hearing of the complaint.

(b) The Arbiter shall determine the admissibility,

relevance, materiality and weight of the documentary and oral

evidence.

(c)

Hearings are to be held in public unless the Arbiter,

giving reasons, otherwise decides.

(d) Neither party shall be required to be represented or

assisted for oral hearings. If only one party is represented or assisted,

the Arbiter shall ensure the hearing remains fair to both parties.

(4) In the process of investigation, the Arbiter shall inform the

parties of the progress made.

(5) The Arbiter may request the production of information or

documentation from either of the parties or from a third party, as the

case may be, which the Arbiter considers necessary or relevant for the

determination of the complaint, which information or documentation

is to be provided before the end of such reasonable period as the

Arbiter shall specify, and in the case of information, in such manner

or form as may be specified by the Arbiter

Provided that for the purpose of obtaining such

information or documentation, the Arbiter shall have the power to

summon witnesses and to administer an oath to any witness and to

any person concerned in the investigation, including the complainant

and the service provider, and to require persons to give evidence, and

the rules of the Code of Organization and Civil Procedure shall apply Cap. 12.

mutatis mutandis to the production of evidence before the Arbiter

Provided further that any person who is summoned to

appear before the Arbiter under this article shall have the same rights

and obligations as a witness summoned to appear before the court of

civil jurisdiction.

(6) (a)

Information obtained by the Arbiter or by any

officer or person in his Office in the course of or for the purpose of an

investigation under this Act shall not be disclosed except for the

purposes of

(i)

the investigation and adjudication;

(ii)

any report made under this Act; or

(iii)

any proceedings relating to an offence under this

Act.

(b) The Arbiter, officers or persons in his Office shall

not be called upon to give evidence in any proceedings, other than as

mentioned under paragraph (a), on matters coming to their knowledge

in the course of an investigation or of the execution of other duties

carried out by them under this Act.

(c)

Article 133 of the Criminal Code shall apply to and

in relation to the Arbiter and any officer or person in his Office as

they apply to or in relation to a public officer or servant referred to in

the said article of the Criminal Code.

(7) In the process of an investigation, the Arbiter may enter

and inspect any premises occupied or used by the financial services

provider or by any person or body who in the opinion of the Arbiter is

associated with the financial service provider and inspect any

document or thing within the premises.

26. (1) Following completion of an investigation of a

complaint under article 25, the Arbiter shall proceed with

adjudication.

(2) The Arbiter shall proceed to adjudication within ninety

days from the date of receipt of the complaint

Provided that where a complaint is complex in nature, the

Arbiter shall deliver his findings at the earliest opportunity being a

date not later than one year from the date of receipt of the complaint

and shall inform the parties concerned of the expected adjudication

date

Provided further that no nullity shall ensue from failure to

meet the time limits provided for in this sub-article.

(3) (a)

The findings and conclusions reached by the Arbiter

shall be drawn up, in writing, in a decision giving the Arbiter’s

reasons therefor that shall be read out in public on a day duly notified

to the parties.

(b)

The decision may include any direction given under

paragraph (c).

(c)

If the complaint is found to be wholly or in part

substantiated, the Arbiter may direct the financial services provider to

do one or more of the following

(i)

to review, rectify, mitigate or change the conduct

complained of or its consequences;

(ii)

to provide reasons or explanations for that conduct;

(iii)

to change a practice relating to that conduct;

(iv) to pay an amount of compensation for any loss of

capital or income or damages suffered by the complainant as a

result of the conduct complained of, without or with interest, at

such reasonable rate and within the parameters established by

law as the Arbiter may determine, on the whole or any part of

the money, and for the whole or any part of the period between

the date on which the conduct complained of had started and the

date on which the Arbiter’s decision is made;

(v) to specify the period within which the direction is to

be carried out by the financial service provider.

(d) In his decision the Arbiter shall also adjudicate the

costs of the proceedings, by whom they shall be borne and, if

necessary, in what proportion, according to the circumstances of the

case.

(e)

In the event that a financial services provider

becomes insolvent within the meaning attributed to that term by any

laws or regulations providing for an investor compensation scheme, a

depositor compensation scheme or a protection and compensation fund

or any other compensation scheme or fund applicable in respect of the

financial services provider sector to which that financial services

provider belongs, and as a consequence of the said insolvency the

financial services provider is not in a position to pay the compensation

that has been awarded by or following a decision of the Arbiter, the

complainant is notwithstanding any other law, to be paid up to twenty

thousand euro from the said fund or scheme applicable in the financial

services provider sector to which the financial services provider

belongs.

(4) Within fifteen days from the date when the decision of the

Arbiter is notified to the parties, either party, with notice to the other

party, may request that the Arbiter give a clarification of the award, or

request the Arbiter to correct any errors in computation or clerical or

typographical errors or similar error contained in the decision of the

Arbiter. The Arbiter shall give such clarification or make any

necessary correction within fifteen days from the receipt of a party’s

request.

27. (1) The decision reached by the Arbiter, including any

interlocutory decisions, may be subject to appeal by either party.

(2) (a)

The appeal from a decision as referred to in sub-

article (1) shall lie to the Court of Appeal (Inferior Jurisdiction)

constituted in terms of article 41(6) of the Code of Organization and

Civil Procedure.

(b) Appeals from interlocutory decisions may only be

entered after the final decision.

(3) An appeal to the Court of Appeal (Inferior Jurisdiction) in

terms of article 41(6) of the Code of Organization and Civil

Procedure shall be filed in the registry of the said Court within twenty

days from the date when the decision of the Arbiter is notified to the

parties or, in the event that a request for clarification or correction of

a decision is requested in terms of article 26(4), from the date when

such interpretation or clarification or correction made by the Arbiter

shall be notified to the parties, and such an appeal shall be regulated

by the rules of court made under article 29 of the Code of

Organization and Civil Procedure.

(4) Where no appeal is filed by any party, the decision of the

Arbiter shall become res judicata.

(5) A copy of such a decision shall be provided by the Arbiter

to the Board. Such decisions shall be held in an appropriate Register,

which Register shall be accessible to the public upon request.

(6) After the decision of the Arbiter becomes res judicata as

stipulated in sub-article (4), if in the Arbiter’s opinion there is

substantial evidence of any significant breach of duty or misconduct

on the part of a financial services provider, or any criminal conduct of

any of the parties, the Arbiter shall refer the matter to the competent

authorities to take any further appropriate action, if any, according to

law.

(7) A decision of the Arbiter that has become res judicata, the

terms of settlement recorded by the Arbiter in terms of article

22(7)(c)(ii) and a decision of the Court of Appeal (Inferior

Jurisdiction), shall constitute an executive title in terms of article 253

of the Code of Organization and Civil Procedure.

Malta Government Gazette — Act 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the

Art. 28 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the Open official source

(1) Any request for information shall be made by an Procedure

eligible customer or financial services provider to the Office orally or relating

request for

in writing.

information.

(2) A request for information under sub-article (1) shall be

carried out by the officers appointed by the Arbiter under article

19(4), from the list of officers held by the Board.

(3) In carrying out the function under sub-article (2), the

officer shall regulate his own procedure.

(4) The findings on the request for information given by the

officer shall be notified to the Board, and communicated to the person

who lodged the request for information within thirty days from the

date of its receipt by the Office by whatever means, even informally.

(5) The findings of any request for information shall only be

informative in nature, and may not be brought as evidence in a law

suit before any court or tribunal.

(6) The Minister may, after consultation with the Arbiter and

the Board, make regulations to give better effect to the provisions of

this article.

PART VI

Miscellaneous

Malta Government Gazette — Act 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the

Art. 29 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the Open official source

(1) The Arbiter may delegate in writing to any person Delegation of

holding any office under him any of his powers under this Act, except functions.

this power of delegation and the power to take decisions and

adjudicate.

(2) A delegation of functions under this Act shall be without

prejudice to the exercise of those functions by the Arbiter, and shall

be revocable by the Arbiter at will.

Malta Government Gazette — Act 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the

Art. 30 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the Open official source

The Arbiter may, if he thinks fit, treat individual Consideration of

complaints made with the Office together, provided that such similar

complaints.

complaints are intrinsically similar in nature.

Malta Government Gazette — Act 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the

Art. 31 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the Open official source

Except as otherwise stated in this Act, the Office of the Immunity.

Arbiter and the Arbiter shall enjoy full immunity from any civil or

criminal action for any act or omission in or arising from the

execution of their official duties unless it is shown that the person

concerned acted in bad faith.

Malta Government Gazette — Act 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the

Art. 32 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the Open official source

(1)

Any person who -

Offences and

penalities.

(a)

fails to comply with any order given by the Arbiter

shall be guilty of an offence against this Act and shall on

conviction be liable to a fine (multa) of not less than five

hundred euro (€500) and not more than one thousand euro

(€1,000);

(b) obstructs the Arbiter in the exercise of the powers

conferred by this Act shall be guilty of an offence against this

Act and shall be liable, on conviction, to a fine (multa) of five

hundred euro (€500);

(c)

when summoned to give evidence before the Arbiter

or any officer under this Act, gives information knowing that

such information is false or misleading, shall be guilty of an

offence against this Act and shall be liable, on conviction, to a

fine (multa) of five hundred euro (€500).

(2) Proceedings against any person for any offence as is

mentioned in sub-article (1) shall be instituted before the Court of

Magistrates (Malta) or the Court of Magistrates (Gozo), as the case

may be, as courts of criminal judicature in accordance with the

provisions of the Criminal Code.

Malta Government Gazette — Act 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the

Art. 33 Power to make regulations. — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the Open official source

The Minister may, in consultation with the Arbiter and the

Board, make regulations

(a) to establish the procedure for the filing and handling

of complaints;

(b) to establish the procedure for the investigation of

complaints;

(c)

to establish the procedure for the adjudication of

complaints;

(d) to establish the levies and charges payable under this

Act and fees in respect of professional or consultancy services

rendered to customers in relation to claims or proceedings under

this Act;

(e)

to establish the persons or bodies to whom this Act

shall not apply;

(f)

to specify circumstances in which the Arbiter may

dismiss a complaint without considering its merits;

(g) to specify the place or places at which the Arbiter is

required to make available copies of its findings, decisions and

any report that the Arbiter is required to prepare; and

(h) to give better effect to any of the provisions of this

Act, and for the better enforcement thereof.

Malta Government Gazette — Act 2016 16 · Gazzetta tal-Gvern ta’ Malta Nru. 19,549 – 22.03.2016 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the

Art. 34 — ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the Open official source

Article 253 of the Code of Organization and Civil Consequential

amendment to

Procedure shall be amended as follows

the Code of

Organization

and Civil

(a)

in paragraph (g) thereof for the words "Consumer

Procedure.

Claims Tribunal." there shall be substituted the words

"Consumer Claims Tribunal;"; and

(b) immediately after paragraph (g) thereof there shall

be added the following new paragraph

"(h) decisions and awards of the Arbiter for

Financial Services in accordance with the provisions of the

Arbiter for Financial Services Act.".

Passed by the House of Representatives at Sitting No. 369 of the

15th March, 2016.

A NĠLU F ARRUGIA

Speaker

R AYMOND S CICLUNA

Clerk of the House of Representatives

€2.52

ACT No. XVI of 2016 AN ACT to set up the Office of the Arbiter for Financial Services with power to mediate, investigate, and adjudicate complaints filed by a customer against a financial services provider, to set up a Board of Management responsible for the administration of the Office of the

Table of Provisions (35)

Statutory Text (35 Articles)

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