Financial Markets Act (Off-Market Deals)

Suppliment tal-Gazzetta tal-Gvern ta’ Malta Nru. 19,175, 29 ta’ Novembru, 2013

L.N. 424 of 2013

FINANCIAL MARKETS ACT

(CAP. 345)

Financial Markets Act (Off-Market Deals)

(Amendment) Regulations, 2013

IN exercise of the powers conferred by articles 3 and 49 of the

Financial Markets Act, the Minister for Finance, acting on the advice

of the Malta Financial Services Authority, has made the following

regulations:-

The title of these regulations is the Financial Markets Act Citation.

(Off-Market Deals) (Amendment) Regulations, 2013, and these

regulations shall be read and construed as one with the Financial S.L. 345.07.

Markets Act (Off-Market Deals) Regulations, hereinafter referred to

as "the principal regulations".

In regulation 3 of the principal regulations, for the words Amends

"and that the authorised intermediary shall have, prior to the regulation

the principal

execution of such trade, pre-validated such trade by confirming that regulations.

the listed instruments to be traded are held by the seller.", there shall

be substituted the words "and cleared through a clearing and

settlement system referred to in article 26(c) of the Act.".

In regulation 6 of the principal regulations for the words Amends

"as close through real-time as possible", there shall be substituted the regulation

the principal

words "as close to real-time as possible".

regulations.

Immediately after regulation 6 of the principal regulations, Adds new

regulation 7 to

there shall be added the following new regulation

the principal

regulations.

" Financial

For the better carrying out of the

Market Rules.

provisions of these regulations, the competent

authority may, from time to time, issue and

publish Financial Market Rules which shall

be binding on regulated markets and others as

may be specified therein. Such Financial

Market Rules may lay down additional

requirements and conditions in relation to

activities of regulated markets, central

securities depositaries and others as may be

specified in the Act, including any links

provided for in article 26(c) of the Act, in

relation to the conduct of their business, their

relations with customers, the public and other

parties, their responsibilities to the competent

authority, reporting requirements, financial

resources, capital adequacy and related

requirements, and any other matters as the

competent

authority

may

consider

appropriate, including the requirements on a

regulated market and others as may be

specified in the Act, pertaining to the off-

market deals in listed financial instruments

cleared through a central securities depository

link.".

€0.09