Regulations, 2013

Suppliment tal-Gazzetta tal-Gvern ta’ Malta, Nru. 19, 109, 12 ta’ Lulju, 2013

L.N. 184 of 2013

INSURANCE BUSINESS ACT

(CAP. 403)

Insurance Business (Assets and Liabilities) (Amendment)

Regulations, 2013

IN exercise of the powers conferred by articles 11, 14, 16, 17,

18, 63 and 64 of the Insurance Business Act, the Minister for Finance,

after consultation with the Malta Financial Services Authority, has

made the following regulations:-

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

Business (Assets and Liabilities) (Amendment) Regulations, 2013, scope.

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

Insurance Business (Assets and Liabilities) Regulations, hereinafter S.L. 403.16

referred to as "the principal regulations".

(2) The object of these regulations is to transpose, in part,

Article 1 of Directive 2011/89/EU of the European Parliament and of

the Council of 16 November 2011 amending Directives 98/78/EC,

2002/87/EC, 2006/48/EC and 2009/138/EC as regards the

supplementary supervision of financial entities in a financial

conglomerate.

In sub-regulation (1) of regulation 2 of the principal Amends

regulations, in the definition "insurance parent undertaking", for the regulation

the principal

words, "which is either itself an insurance undertaking, a reinsurance regulations.

undertaking or an insurance holding company", there shall be

substituted the words "which is either itself an insurance undertaking,

a reinsurance undertaking, an insurance holding company, or a mixed

financial holding company".

€0.09