Financial Conglomerates (Amendment) Regulations, 2014

Suppliment tal-Gazzetta tal-Gvern ta’ Malta, Nru. 19,227, 28 ta’ Marzu, 2014

L.N. 103 of 2014

MALTA FINANCIAL SERVICES AUTHORITY ACT

(CAP. 330)

Financial Conglomerates (Amendment) Regulations, 2014

IN exercise of the powers conferred by article 20C of the Malta

Financial Services Authority Act, the Minister for Finance, after

consultation with the Malta Financial Services Authority, has made

the following regulations:-

The title of these regulations is the Financial Citation.

Conglomerates (Amendment) Regulations, 2014 and these

regulations shall be read and construed as one with the Financial S.L. 330.06

Conglomerates Regulations, hereinafter referred to as "the principal

regulations".

Regulation 2 of the principal regulations shall be amended Amends

regulation 2 of

as follows

the principal

regulations.

(a)

in the definition "credit institution", for the words

"Article 4(1) of Directive 2006/48/EC;" there shall be

substituted the words "paragraph (1) of Article 4(1) of

Regulation (EU) No. 575/2013;";

(b) in sub-paragraph (iii) of paragraph (b) of the

definition "financial conglomerate", for the words "within the

meaning of regulation 3(2) and (3)", there shall be substituted

the words "within the meaning of Article 3(2) or (3) of the

Financial Conglomerates Directive";

(c)

in paragraph (a) of the definition "financial sector",

for the words "Article 4(1), (5) or (21) of Directive 2006/48/

EC,", there shall be substituted the words "paragraphs (1), (26)

or (18), respectively, of Article 4(1) of Regulation (EU) No.

575/2013,"; and

(d) in the definition "sectoral rules", for the words

"2006/48/EC, 2006/49/EC and 2009/138/EC and", there shall be

substituted the words "2013/36/EU and 2009/138/EC, and

Regulation (EU) No. 575/2013 and".

In subregulation (1) of regulation 4 of the principal Amends

regulations, for the words "with regulations 3 and 5", there shall be regulation

the principal

substituted the words "with regulations 2, 3 and 5".

regulations.

In subregulation (8) of regulation 6 of the principal

regulations, for the words "Articles 133 and 134 of Directive 2006/

48/EC", there shall be substituted the words "Article 18 of Regulation

(EU) No. 575/2013".

In subregulation (8) of regulation 9 of the principal

regulations, for the words "by Article 124 of Directive 2006/48/EC",

there shall be substituted the words "by Article 97 of Directive 2013/

36/EU".

Regulation 12 of the principal regulations shall be

amended as follows

(a)

in subregulation (7) thereof, for the words "Article

131a of Directive 2006/48/EC", there shall be substituted the

words "Article 116 of Directive 2013/36/EU"; and

(b)

in subregulation (8) thereof -

(i) for the words "Article 131 of Directive 2006/

48/EC", there shall be substituted the words "Article 115 of

Directive 2013/36/EU"; and

(ii) for the words "Article 131a of Directive

2006/48/EC", there shall be substituted the words "Article

116 of Directive 2013/36/EU".

In regulation 25 of the principal regulations, for the words

"Article 39(1) and (2) of Directive 2006/48/EC", there shall be

substituted the words "Article 48(1) and (2) of Directive 2013/36/

EU".

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