Regulations, 2011

L.N. 117 of 2011

INSURANCE BUSINESS ACT

(CAP. 403)

Protection and Compensation Fund (Amendment)

Regulations, 2011

IN exercise of the powers conferred by articles 51 and 54 of the

Insurance Business Act, the Minister of Finance, the Economy and

Investment, after consultation with the Malta Financial Services

Authority, has made the following regulations:-

The title of these regulations is the Protection and

Compensation Fund (Amendment) Regulations, 2011, and these

regulations shall be read and construed as one with the Protection and

Compensation Fund Regulations, hereinafter referred to as "the

principal regulations".

In subregulation (1) of regulation 11 of the principal

regulations, for the words, "and not later than three months after the

end of its financial year", there shall be substituted the words, "and

not later than five months after the end of its financial year".

Regulation 14 of the principal regulations shall be

amended as follows

(a) in subregulation (2) thereof, for the words "shall be

submitted to the Authority within two months from the end of

the financial year", there shall be substituted the words "shall be

submitted to the Authority within five months from the end of

the financial year"; and

(b) in subregulation (3) thereof, for the words "shall be

published within three months from the end of the financial

year", there shall be substituted the words "shall be published

within five months from the end of the financial year".

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