Regulations, 2012

Suppliment tal-Gazzetta tal-Gvern ta’ Malta, Nru. 18,960, 28 ta’ Awwissu, B

L.N. 278 of 2012

BANKING ACT

(CAP. 371)

Banking Act (Capital Adequacy) (Amendment)

Regulations, 2012

IN exercise of the powers conferred by article 3 of the Banking

Act, the Minister of Finance, the Economy and Investment, acting on

the advice of the Malta Financial Services Authority, has made the

following regulations

(1) The title of these regulations is the Banking Act Citation and

(Capital Adequacy) (Amendment) Regulations, 2012, and these scope.

regulations shall be read and construed as one with the Banking Act S.L. 371.13

(Capital Adequacy) Regulations, hereinafter in these regulations

referred to as the "the principal regulations".

(2) The purpose of these regulations is to implement

paragraphs (4) and (5) of Article 10 of Directive 2010/78/EU of the

European Union and of the Council of 24 November 2010 amending

Directives 98/26/EC, 2002/87/EC, 2003/6/EC, 2003/41/EC, 2003/71/

EC, 2004/39/EC, 2004/109/EC, 2005/60/EC, 2006/48/EC, 2006/49/

EC and 2009/65/EC in respect of the powers of the European

Supervisory Authority (European Banking Authority), the European

Supervisory Authority (European Insurance and Occupational

Pensions Authority) and the European Supervisory Authority

(European Securities and Markets Authority).

Regulations 2 of the principal regulations shall be Amends

regulation 2 of

amended as follows

the principal

regulations.

(a) immediately after the definition "Capital Adequacy

Directive" there shall be added the following new definition

" "Capital Requirements Directive" means Council

Directive 2006/48/EC of 14 June 2006, relating to the

taking up and pursuit of the business of credit institutions

(recast), as may be amended or updated from time to time,

and includes any implementing measures that have been

issued or may be issued thereunder;";

(b)

the definition "the Directive" shall be deleted; and

(c)

in the definition "European regulatory authority",

and wherever they appear in the principal regulations, for the

words "the Directive", there shall be substituted the words "the

Capital Requirements Directive".

In regulation 4 of the principal regulations immediately

after the words "shall be the Malta Financial Services Authority

established by the Malta Financial Services Authority Act.", there

shall be added the words "The Malta Financial Services Authority

shall inform the European Banking Authority and the European

Commission that it is the authority designated in terms of this

regulation.".

Immediately after regulation 5 of the principal regulations,

there shall be added the following new regulation

" Cooperation

(1) The competent authority

with the

shall cooperate with the European Banking

European

Authority for the purposes of the Capital

Banking

Authority.

Adequacy Directive, in accordance with

Regulation (EU) No 1093/2010 of the

European Parliament and of the Council of

the 24 November 2010.

(2) The competent authority shall

without delay provide the European Banking

Authority with all information necessary for

carrying out its duties under the Capital

Adequacy Directive and under Regulation

(EU) No 1093/2010, in accordance with

Article 35 of the said Regulation.".

€0.09