Depositor Compensation Scheme Regulations, 2015

L.N. 383 of 2015

BANKING ACT

(CAP. 371)

Depositor Compensation Scheme Regulations, 2015

IN exercise of the powers conferred by articles 3 and 28A of the

Banking Act, the Minister for Finance, acting on the advice of the

Malta Financial Services Authority, has made the following

regulations:-

PART I

Preliminary

(1) The title of these regulations is the Depositor Citation, scope

and

Compensation Scheme Regulations, 2015.

commencement.

(2) The objective of these regulations is to implement the

relevant provisions of Directive 2014/49/EU of the European

Parliament and of the Council of 16th April 2014 on deposit

guarantee schemes, and these regulations shall be interpreted and

applied accordingly.

(3) Regulation 13(4) shall enter into force on 31 May, 2016.

Depositor Information Sheet

Basic information about the

protection of deposit

Deposits in (insert name of The

Depositor

Compensation

credit institution) are protected Scheme ,

established

under

by

regulation 3 of the Depositor

Compensation Scheme Regulations,

2015. Limit of protection

EUR 100,000 per depositor per

credit institution 2

If you have more deposits at All your deposits at the same credit

the same credit institution

institution are "aggregated" and the

total is subject to the limit of EUR

100,000.

If you have a joint account with The limit of EUR 100,000 applies to

each depositor separately 3

other person(s)

Reimbursement period in case 20 working days 4

of credit institution’s failure

Currency of reimbursement

Euro

Contact

Depositor Compensation Scheme,

c/o Malta Financial Services

Authority,

Notabile Road, Attard BKR3000,

Malta;

Tel: (+) 356 21441155; E-mail

info@compensationschemes.org.mt

More information

www.compensationshemes.org.mt

Acknowledgement of receipt

by the depositor

Scheme responsible for the protection of your deposit

Your deposit is covered by a statutory Deposit Guarantee Scheme.

If insolvency of your credit institution should occur, your deposits

would in any case be repaid up to EUR100,000.

General limit of protection

If a deposit is unavailable because a credit institution is unable to

meet its financial obligations, depositors are repaid by the

Depositor Compensation Scheme, in accordance with the

regulations. This repayment covers a maximum of EUR 100,000

per credit institution. This means that all deposits at the same

credit institution are added up in order to determine the coverage

level. If, for instance, a depositor holds a savings account with

EUR 90,000 and a current account with EUR 20,000, he or she

will only be repaid EUR 100,000.

In addition to the protection described above, deposits may be

protected in some cases up to a maximum of EUR 500,000 for six

months after the amount has been credited or from the moment

when such deposits become legally transferable. In order to

qualify for such higher protection, a deposit in excess of EUR

100,000 must meet any one of the following additional criteria

(A)

it comprises

(a)

monies deposited in preparation for the purchase of

a private residential property by the depositor; or

(b) monies which represent the proceeds of sale of a

private residential property of the depositor; or

(B)

it comprises sums paid to the depositor in respect of

(a)

a separation, divorce or dissolution of their civil

union; or

(b)

benefits payable on retirement; or

(c)

a claim for compensation for unfair dismissal; or

(d)

a claim for compensation for redundancy; or

(e)

benefits payable for death or bodily injury; or

(f)

a claim for compensation for wrongful conviction.

More

information

can

be

obtained

under

www.compensationschemes.org.mt

Limit of protection for joint accounts

In case of joint accounts, the limit of EUR 100,000 applies to each

depositor.

However, deposits in an account to which two or more persons are

entitled as members of a business partnership, association or

grouping of a similar nature, without legal personality, are

aggregated and treated as if made by a single depositor for the

purpose of calculating the limit of EUR 100,000.

Reimbursement

The responsible Deposit Guarantee Scheme is the Depositor

Compensation Scheme, c/o Malta Financial Services Authority,

Notabile Road, Attard BKR3000, Malta; Tel: (+)356 21441155; E-

mail: info@compensationschemes.org.mt. It will repay your

deposits up to EUR 100,000 within 20 working days until 31

December 2018; within 15 working days from 1 January 2019

until 31 December 2020; within 10 working days from 1 January

2021 until 31 December 2023; and within 7 working days from 1

January 2024 onwards.

As of 31 May 2016, where the Depositor Compensation Scheme

cannot make the repayable amount(s) available within 7 working

days, depositors shall have access to an amount, not exceeding

€1,500, to cover the cost of living, within 5 working days of a

request. The Depositor Compensation Scheme shall only grant

access to such amount within 5 working days on the basis of data

provided by the credit institution.

If you have not been repaid within these deadlines, you should

make contact with the Depositor Compensation Scheme since the

time to claim reimbursement may be barred after a certain time

limit.

Further

information

can

be

obtained

from

www.compensationschemes.org.mt.

Other important information

In general, all retail depositors and businesses are covered by the

Depositor Compensation Scheme. Exceptions for certain deposits

are stated on the website of the Depositor Compensation Scheme.

Your credit institution will also inform you on request whether

certain products are covered or not. If deposits are covered, the

credit institution shall also confirm this on the statement of

account.

B

€3.78

For the purposes of these regulations the following Interpretation

definitions shall apply

"available financial means" means cash, deposits and low-risk

assets which can be used for the purposes laid down in regulation 33

and which can be liquidated within a period not exceeding that

referred to in regulation 13(2) and payment commitments up to the

limit set out in regulation 23(3);

"branch" means a place of business in a Member State which

forms a legally dependent part of a credit institution and which carries

out directly all or some of the transactions inherent in the business of

credit institutions;

"compensation date" means the date on which

(a)

the competent authority has determined that in its

view the member concerned appears to be unable for the time

being, for reasons which are directly related to its financial

circumstances, to repay the deposit and the member has no

current prospect of being able to do so; or

(b) a judicial authority has made a ruling for reasons

which are directly related to the member’s financial

circumstances and which has the effect of suspending the rights

of depositors to make claims against it;

"competent authority" means the competent authority under the

Banking Act;

"covered deposits" means the part of eligible deposits that does

not exceed the coverage level laid down in regulation 10;

"credit institution" means a credit institution as defined in

article 2 of the Banking Act;

"deposit" means a credit balance, including, as the case may be,

any interest accrued thereon, which results from funds left in an

account or from temporary situations deriving from normal banking

transactions and which a credit institution is required to repay under

the legal and contractual conditions applicable, including a fixed-term

deposit and a savings deposit, but excluding a credit balance where

(a)

its existence can only be proven by a financial

instrument as defined in Article 4(17) of Directive 2004/39/EC,

unless it is a savings product which is evidenced by a certificate

of deposit made out to a named person and which existed in

Malta on 2 July 2014; or

(b)

its principal is not repayable at par; or

(c)

its principal is only repayable at par under a

particular guarantee or agreement provided by the credit

institution or a third party;

"deposit guarantee schemes" or "DGSs" means schemes

referred to in Article 1(2) of the Directive, namely

(a)

statutory schemes, including the Depositor

Compensation Scheme established under regulation 4;

(b) contractual schemes that are officially recognized as

deposit guarantee schemes in accordance with Article 4(2) of

the Directive;

(c)

institutional protection schemes that are officially

recognised as deposit guarantee schemes in accordance with

Article 4(2) of the Directive;

"depositor" means the holder or, in the case of a joint account,

each of the holders, of a deposit; and, in the case of a deceased

depositor, the successor in title of such depositor such as an heir or a

legatee of a deposit;

"Directive" means Directive 2014/49/EU of the European

Parliament and of the Council of 16 April 2014 on deposit guarantee

schemes;

"deferred file" means a single, consistent view of a depositor’s

eligible deposits with a member which contains the information set

out in regulation 20(5) limited to accounts which

(a)

hold any funds to which the depositor is not

absolutely entitled; or

(b)

are not active;

"dormant account" means a deposit account in relation to which

there has been no transaction within the previous twenty-four months;

"EBA" means the European Banking Authority established by

Regulation (EU) No 1093/2010 of the European Parliament and of the

Council;

"EEA State" means a State which is a contracting party to the

agreement on the European Economic Area signed at Oporto on the

2nd May 1992, as amended by the protocol signed at Brussels on 17th

March 1993, and as amended by any subsequent acts;

"eligible deposits" means deposits that are not excluded from

protection pursuant to regulation 9, and includes deposits held in an

account entitled to compensation pursuant to regulation 12(5);

"European Union" means the European Union as defined in

article 2 of the European Union Act;

"Financial Services Tribunal" means the tribunal established in

terms of the Malta Financial Services Authority Act;

"financial year" means the financial year of the Scheme which

shall be an accounting period of twelve months ending on the thirty-

first day of December of each year;

"home Member State" means the Member State in which a

credit institution has been granted authorisation;

"host Member State" means the Member State in which a credit

institution has a branch or in which it provides services, other than its

home Member State;

"in default" describes the status of a member whose deposits are

unavailable deposits;

"institutional protection schemes" or "IPS" means institutional

protection schemes as referred to in Article 113(7) of Regulation

(EU) No 575/2013;

"joint account" means an account opened in the name of two or

more persons or over which two or more persons have rights that are

exercised by means of the signature of one or more of those persons;

"low-risk assets" means items falling into the first or second

category referred to in Table 1 of Article 336 of Regulation (EU) No

575/2013 or any assets which are considered to be similarly safe and

liquid by the competent authority;

"Management Committee" means the Scheme’s Management

Committee established under regulation 5;

"management expenses" means expenses incurred, or expected

to be incurred, by the Scheme in connection with its objective and

functions under these regulations other than those incurred in paying

compensation, financing the resolution of members pursuant to

regulation 33(2), using its available financial means for alternative

measures to prevent the failure of a member pursuant to regulation

33(3), or using its available financial means for alternative measures

to preserve the access of depositors to covered deposits, including

transfer of assets and liabilities and deposit book transfer, in the

context of insolvency proceedings, pursuant to regulation 33(6);

"member" means a credit institution participating in the

Scheme;

"Member State" means a Member State of the European Union

and includes an EEA State;

"not active account" means

(a)

it is uncertain whether a person is entitled to receive

compensation, such as when

(i)

the account holder is deceased;

(ii)

the deposit is a pledged account;

(iii) the deposit is held by a minor; or

(iv) the deposit is subject to usufruct or similar

rights,

(b)

the deposit is subject to legal dispute;

(c)

the deposit is subject to restrictive measures

imposed by national governments or international bodies;

(d) the depositor has been charged with an offence

arising out of or in relation to money laundering as defined in

Article 1(2) of Directive 2005/60/EC;

(e)

the deposit is a dormant account;

"passporting right" means the entitlement of a person to

establish a branch or provide services in an EEA State other than that

in which that person has its relevant office in accordance with the

Treaty as applied in the European Economic Area;

"payment commitments" means payment commitments of a

member towards the Scheme in accordance with regulation 23(3),

which are fully collateralised provided that the collateral

(a)

consists of low risk assets; and

(b) is unencumbered by any third-party rights and is at

the disposal of the Scheme;

"private residential property" means a dwelling house which

was, is, or is intended to become the depositor’s only or principal

residence;

"Resolution Committee" means the committee established under

the Malta Financial Services Authority Act;

"Scheme" means the Depositor

Compensation

Scheme

established under regulation 4;

"SCV report" means the report specified in regulation 21 from a

member’s board of directors confirming that the member’s SCV

system satisfies the SCV requirements;

"SCV requirements" means the requirements on members set

out in regulation 20;

"SCV system" means a member’s system for satisfying the SCV

requirements;

"single customer view file" means a single, consistent view of

depositors’ aggregate eligible deposits with a member which contains

the information set out in regulation 20(5), but excludes from view

those deposits included in the deferred file;

"target level" means the amount of available financial means

which the Scheme is required to reach in accordance with regulation

23(2), expressed as a percentage of covered deposits of its members;

"temporary high balance" means, in relation to a depositor who

is an individual, that part of an eligible deposit in excess of EUR

100,000 which meets the additional criteria set out in regulation 11;

"unavailable deposit" means a deposit that is due and payable

but that has not been paid by a member under the legal or contractual

conditions applicable thereto, where either

(a)

the competent authority has determined that in its

view the member concerned appears to be unable for the time

being, for reasons which are directly related to its financial

circumstances, to repay the deposit and the member has no

current prospect of being able to do so; or

(b) a judicial authority has made a ruling for reasons

which are directly related to the member’s financial

circumstances and which has the effect of suspending the rights

of depositors to make claims against it.

(1) The objective of these regulations is to implement

the relevant provisions of the Directive, and these regulations shall be

interpreted and applied accordingly.

(2) Without prejudice to any other power or function conferred

on it by these regulations or by any other law, it shall be the function

of the Scheme

(a)

to maintain a fund or funds out of which payments

shall be made to depositors and to meet such other payments or

expenses as may be paid out of the fund or funds in accordance

with these regulations;

(b) to establish and maintain, after consultations with

the competent authority, arrangements for the making of

payments to depositors in accordance with these regulations;

(c)

to process claims for compensation by depositors as

expeditiously as possible and to ensure that compensation is

paid out without undue delay in terms of these regulations;

(d) to finance the resolution of members pursuant to

regulation 33(2);

(e)

to use its available financial means for alternative

measures to prevent the failure of a member pursuant to

regulation 33(3);

(f)

to use its available financial means for alternative

measures to preserve the access of depositors to covered

deposits, including transfer of assets and liabilities and deposit

book transfer, in the context of insolvency proceedings,

pursuant to regulation 33(6);

(g) to advise the competent authority on matters relating

to the functions of the Scheme.

PART II

Depositor Compensation Scheme

(1) There

shall

be

established

a

Depositor Establishment

of the Depositor

Compensation Scheme.

Compensation

Scheme

(2) The Scheme shall be a body corporate having a distinct

legal personality and shall be capable, subject to the provisions of the

Banking Act and of these regulations, of entering into contracts of Cap. 371.

borrowing or otherwise incurring indebtedness for the purposes of its

functions, of acquiring, holding and disposing of any kind of property

for the purposes of its functions, of suing or being sued and of doing

all such things and entering into all such transactions as are incidental

or conducive to the exercise or performance of its functions.

(3) The legal and judicial representation of the Scheme shall

vest in the chairperson of the Management Committee

Provided that, and without prejudice to the foregoing, the

Management Committee may vest any one or more of its members or

of the officers or agents of the Scheme with legal or judicial

representation.

(1) The Scheme shall be managed and administered by The

and shall be under the general control of the Management Committee. Management

Committee.

(2) The Management Committee shall be composed of the

same persons appointed in virtue of regulations 3 and 5 of the

Investor Compensation Scheme Regulations.

(3) Regulations 3 and 5 of the Investor Compensation Scheme S.L. 370.09

Regulations shall apply mutatis mutandis to the Scheme and the

Management Committee established under these regulations.

(4) The meetings of the Management Committee shall be

convened and held in accordance with regulation 9 of the Investor

Compensation Scheme Regulations.

(5) The Management Committee shall exercise all powers

which are conferred by these regulations upon the Scheme. It shall for

this purpose have the power to enter into such reasonable

administrative, management or other arrangements as may be

necessary to enable it to fulfil its objective and functions under these

regulations. The Management Committee shall have the power to

appoint officers or agents of the Scheme and to grant them such

powers or authority as it may deem appropriate.

(6) All the members of the Management Committee shall

work in the best interest of the Scheme and shall pursue and promote

its objective and functions.

(7) The Management Committee shall have in place sound and

transparent governance practices.

(8) The Management Committee shall cause proper books of

account to be kept so that the financial position of the Scheme can be

ascertained with reasonable accuracy at any time. The financial year

end of the Scheme shall be an accounting period of twelve months

ending on the thirty-first day of December of each year.

(9) The Management Committee shall submit to the competent

authority an annual report on the discharge of its functions and on the

operation of the Scheme within five months from the financial year

end of the Scheme. Such annual report shall include, inter alia

(a)

a statement showing the payments in and payments

out of the Scheme during its immediate previous financial year;

(b) a statement showing the results of regular stress tests

of its systems undertaken by the Scheme; and

(c)

annual financial statements prepared in accordance

with International Accounting Standards and audited in

accordance with International Standards on Auditing by

auditors appointed by the Scheme from among persons who are

qualified to be appointed as auditors of a company under the

law for the time being in force in Malta.

(10) The annual report shall be made available on the websites

of the competent authority and the Scheme.

(11) The books of accounts shall be kept at such place as the

Management Committee thinks fit.

(1) The Scheme shall have the power to lend to other Powers and

duties of the

DGSs within the European Union, pursuant to regulation 34.

Scheme.

(2) The Scheme may take out insurance policies, borrow or

otherwise incur indebtedness for the purposes of the Scheme’s

objective and functions, in any way and under any terms it may

consider appropriate.

(3) The Scheme shall ensure that it has in place adequate

financial means or relevant financing arrangements to fulfil its

objective and functions in accordance with these regulations.

(4) The Scheme shall perform regular stress tests of its

systems. Such tests shall take place at least every three years and

more frequently where appropriate. The Scheme shall use the

information necessary to perform tests of its system only for the

performance of those tests and shall keep such information no longer

than is necessary for that purpose.

(5) The Scheme shall comply with the requirements of the

European Banking Authority when the Authority conducts periodical

peer reviews based on the results of the stress test, pursuant to Article

30 of Regulation (EU) No 1093/2010, in order to examine the

resilience of the Scheme. The Scheme shall be subject to the

requirements of professional secrecy when exchanging information

with the European Banking Authority in accordance with Article 70

of Regulation (EU) No 1093/2010.

(6) For the purpose of fulfilling its objectives and functions,

the Scheme shall be bound to safeguard and take into account the

general interests of depositors entitled to claim under these

regulations.

(1) A credit institution which is licensed in Malta under Membership.

the Banking Act, other than a branch established in Malta by a credit Cap. 371.

institution which has its head office outside the European Union, shall

participate in the Scheme.

(2) Membership in the Scheme does not exclude the

possibility that particular credit institutions may have to participate

also in another compensation or similar scheme set up under a

different law and governed by another competent authority or other

body, in Malta or abroad.

PART III

Compensation

(1) The competent authority shall make a determination

pursuant to paragraph (a) of the definition "unavailable deposit" in

regulation 2 as soon as possible and in any event no later than five

working days after first becoming satisfied that a member has failed

to repay deposits which are due and payable.

(2) Where the competent authority makes a determination as

referred to in paragraph (a) of the definition "unavailable deposit" in

regulation 2, or a judicial authority makes a ruling as referred to in

paragraph (b) of the definition "unavailable deposit" in regulation 2,

the competent authority shall, as soon as possible, inform the Scheme

of such determination or ruling.

(3) On being informed by the competent authority of such

determination or ruling, the Scheme shall publish a notice on its

website and in at least two local newspapers, informing depositors of

the member concerned, of such determination or ruling, of the manner

in which the compensation to the depositors shall be processed, and

of the matters stipulated in regulation 11(2).

(4) The Scheme shall, as soon as possible, inform any other

DGSs which it believes may be affected by such determination or

ruling.

(5) Where the failed member has a branch in another Member

State, the Scheme shall provide the necessary information and

funding to the DGS of the host Member State in terms of regulation

(1) Depożitu jkun biss depożitu eliġibbli jekk ikollu L-eliġibilità tad-

depożiti.

bħala detentur tiegħu membru

(a)

f’Malta; jew

(b) fil-fergħa ta’ dak il-membru li tkun tinsab f’xi Stat

Membru ieħor.

(2) Dawn li ġejjin mhumiex depożiti eliġibbli

(a)

bla ħsara għar-regolament 12(5), depożiti

magħmulin minn istituzzjonijiet ta’ kreditu oħra f’isimhom

stess u akkont tagħhom stess;

(b) fondi proprji kif definit fil-punt (118) tal-Artikolu

4(1) tar-Regolament (UE) Nru. 575/2013;

(ċ)

depożiti li joriġinaw minn operazzjonijiet li

dwarhom kien hemm kundanna kriminali ta’ money laundering

kif definit fl-Artikolu 1(2) tad-Direttiva 2005/60/KE;

(d) depożiti minn istituzzjonijiet finanzjarji kif definit

fil-punt (26) tal-Artikolu 4(1) tar-Regolament (UE) Nru. 575/

2013;

(e)

depożiti minn ditti ta’ investiment kif definit fil-punt

(1) tal-Artikolu 4(1) tad-Direttiva 2004/39/KE;

(f)

depożiti li d-detentur tagħhom qatt ma ġie

identifikat kif hemm fl-Artikolu 9(1) tad-Direttiva 2005/60/KE,

meta ma jibqgħux disponibbli;

(g) depożiti minn intrapriżi tal-assigurazzjoni u minn

impriżi tar-riassikurazzjoni kif imsemmija fl-Artikolu 13(1) sa

(6) tad-Direttiva 2009/138/KE;

(h)

depożiti minn intrapriżi ta’ investiment kollettiv;

(i)

depożiti minn fondi ta’ pensjoni u rtirar;

(j)

depożiti minn awtoritajiet pubbliċi;

(k) titoli maħruġa minn istituzzjoni u responsabbiltajiet

li joriġinaw minn kull aċċettazjoni proprja u minn noti

promissorji;

(l)

depożiti li jkollhom bħala detentur membru fil-

fergħa ta’ dak il-membru li jkun jinsab fi Stat li mhux Stat

Membru.

(1) L-Iskema għandha tħallas kumpens kif hawn f’dawn

ir-regolamenti fir-rigward ta’ xi depożitu eliġibbli jekk tkun sodisfatta

li d-depożitu eliġibbli jkun depożitu ma’ membru li jkun

inadempjenti.

(2) L-ogħla ammont li jitħallas bħala kumpens għal depożiti

aggregati ta’ kull depożitant huwa ta’ EUR 100,000, iżda jista’

jitħallas kumpens addizzjonali f’dawk il-każijiet li japplika għalihom

is-subregolament (3).

(3) B’żieda mal-ogħla kumpens li jitħallas taħt is-

subregolament (2), l-ogħla ammont ta’ kumpens li jitħallas għal

bilanċ għoli temporanju huwa ta’ EUR 500,000.

(1) Sabiex ikun jista’ jikkwalifika bħala bilanċ għoli

temporanju, parti minn depożitu eliġibbli li jeċċedi EUR 100,000

għandu jkun jissodisfa lil xi wieħed mill-kriterji addizzjonali li ġejjin

(a)

ikun jikkomprendi

(i) flejjes depożitati fil-preparazzjoni għax-xiri

ta’ proprjetà residenzjali privata mid-depożitant; jew

(ii) flejjes li jirrappreżentaw ir-rikavat mill-bejgħ

ta’ proprjetà residenzjali privata tad-depożitant; jew

(b) ikun jikkomprendi ammonti paid to the depożitant

mħallsa lid-depożitant dwar xi

(i) separazzjoni, divorzju jew ix-xoljiment tal-

unjoni ċivili tagħhom; jew

(ii)

benefiċċji li jitħallsu mal-irtirar; jew

(iii) talba għal kumpens għal tkeċċija inġusta; jew

(iv) talba għal kumpens għal sensja; jew

(v) benefiċċji li jitħallsu għal xi mewt jew ħsara

fuq il-persuna; jew

(vi) talba għal kmpens għal kundanna inġusta.

(2) Fl-avviż pubblikat kif hemm fir-regolament 8(3), l-Iskema

għandha tinforma lid-depożitanti tal-istituzzjoni ta’ kreditu involuta

b’dan li ġej

(a)

li d-depożitanti jistgħu ikunu intitolati għal kumpens

addizzjonali jekk id-depożitu eliġibbli li jeċċedi EUR 100,000

kollu jew parti minnu ikun jikkwalifika bħala bilanċ għoli

temporanju;

(b) li biex jagħmel talba għal kumpens addizzjonali bħal

dak, id-depożitant għandu jippreżenta lill-Iskema applikazzjoni

bil-miktub u prova li tkun issostni t-talba tad-depożitant li d-

depożitu eliġibbli li jeċċedi EUR 100,000 kollu jew parti minnu

ikun jikkwalifika bħala bilanċ għoli temporanju;

(ċ)

li depożitant jista’ jagħmel aktar minn talba waħda

jekk ikun hemm għadd ta’ avvenimenti li jagħtu lok għal bilanċi

għolja temporanji; u

(d) id-data sa meta dik l-applikazzjoni bil-miktub u

prova li tkun issostni għandhom jiġu ppreżentati lill-Iskema.

(3) L-Iskema għandha tħallas kumpens lil depożitant fir-

rigward ta’ xi bilanċ għoli temporanju kif hemm fir-regolament 10(3)

jekk din tkun sodisfatta li jkun hemm rabta biżżejjed bejn avveniment

li jagħti lok għal bilanċ għoli temporanju u l-parti tad-depożitu

eliġibbli li jeċċedi EUR 100,000, filwaqt li tingħata konsiderazzjoni

lil dan kollu li ġej

(a)

l-applikazzjoni bil-miktub u l-prova li

tiġi

ppreżentata mid-depożitant taħt is-subregolament (2); u

(b)

kull informazzjoni oħra li l-Iskema tqis li tkun

rilevanti.

(4) L-Iskema għandha tħallas kumpens lil-depożitant kif

hemm fir-regolament 10(3) fir-rigward ta’ kull bilanċ għoli

temporanju li id-depożitant ikollu ma’ xi membru.

(5) Il-protezzjoni għal bilanċi għolja temporanji taħt ir-

regolament 10(3) għandha ttul għal perjodu ta’ sitt xhur minn meta

jkun l-aktar tardiv

(a)

mill-ewwel data meta bilanċ għoli temporanju jiġi

akkreditat fil-kont ta’ depożitanti, jew f’xi kont ieħor għan-nom

ta’ xi persuna; u

(b) l-ewwel data meta l-bilanċ għoli temporanju jsir

legalment trasferibbli lid-depożitant.

(6) L-Iskema għandha, fi żmien tliet xhur mid-data tal-

kumpens, tħallas lid-depożitant somma li tkun tirrappreżenta l-

ammont dovut lid-depożitant fir-rigward tal-bilanċ għoli temporanju

sakemm ma tkunx tapplika xi waħda jew aktar mid-dispożizzjonijiet

tas-subregolamenti (7) u (8).

(7) L-Iskema tista’ tiddiferixxi l-pagament fir-rigward tal-

bilanċ għoli temporanju għal perjodu li jaqbeż il-perjodu speċifikat

fis-subregolament (6) meta

(a)

jippreżenta l-applikazzjoni bil-miktub u l-prova

msemmija fis-subregolament (2) lill-Iskema aktar minn xahrejn

wara d-data tal-avviż bil-miktub maħruġ mill-Iskema taħt is-

subregolament (2); jew

(b) tinqala’ xi waħda jew aktar miċ-ċirkostanzi stabbiliti

fir-regolament 14.

(8) Jekk l-Iskema tqis li l-applikazzjoni bil-miktub u l-prova

ppreżentata minn depożitant taħt is-subregolament (2) ma tkun turi

ebda rabta biżżejjed bejn xi avveniment li jagħti lok għal bilanċ għoli

temporanju u d-depożitu eliġibbli li jeċċedi EUR 100,000, l-Iskema

għandha tikteb kemm jista’ jkun raġonevolment malajr lil dak id-

depożitant biex

(a)

titolbu, matul dak iż-żmien li jista’ jiġi speċifikat

mill-Iskema, kull informazzjoni addizzjonali li l-Iskema tqis li

tkun meħtieġa biex tiddeċiedi dwar it-talba; jew

(b) tikkonferma li l-Iskema tkun stabbiliet li d-depożitu

ma jkunx bilanċ għoli temporanju, filwaqt li tiddikjara r-

raġunijiet tagħha għal dik id-deċiżjoni tagħha u sommarju ta’

kull dritt għall-konsiderazzjoni mill-ġdid jew appell.

(1) Il-kumpens għandu jiġi kkalkolat b’referenza għad-

depożiti eliġibbli li jkun miżmum fid-data tal-kumpens.

(2) Il-limitu msemmi fir-regolament 10 japplika għad-depożiti

eliġibbli aggregati li depożitant jagħmel mal-istess membru,

irrispettivament mill-għadd ta’ kontijiet, mill-munita, jew mill-

lokalità fi ħdan iż-ŻEE.

(3) Is-sehem ta’ kull depożitant ta’ kont konġunt għandu jiġi

kkunsidrat separatament fil-kalkolu tal-limiti li hemm provdut

dwarhom fir-regolament 10, ħlief meta jkun japplika s-subregolament

(4). Fin-nuqqas ta’ dispożizzjoni kuntrarja, il-kont konġunt għandu

jiġi diviż ugwalment fost id-depożitanti.

(4) Id-depożiti f’kont li tnejn min-nies jew aktar jkunu

intitolati għalihom bħala membri ta’ sħubija tan-negozju,

assoċjazzjoni, jew grupp ta’ dik ix-xorta, mingħajr personalità

ġuridika, għandhom jiġu aggregati u ittrattati bħal li kieku kienu

magħmula minn depożitant uniku bil-għan li jiġi kalkolat il-limitu li

hemm provdut dwaru fir-regolament 10.

(5) Meta d-depożitant ma jkunx assolutament intitolat għas-

somom miżmuma f’kont u persuna oħra tkun assolutament intitolata

għal somom bħal dawk, il-persuna li tkun assolutament intitolata

jkollha jedd għal kumpens fir-rigward tad-depożitu, sakemm dik il-

persuna tkun ġiet identifikata jew tkun identifikabbli qabel id-data

tal-kumpens.

(6) Meta jkun hemm diversi persuni li jkunu assolutament

intitolati, għandu jittieħed kont tas-sehem ta’ kull wieħed minnhom

taħt l-arranġamenti li taħthom jiġi amministrat id-depożitu, meta jiġi

kkalkolat il-limitu li hemm provdut dwaru fir-regolament 10.

(7) M’għandux jittieħed kont tal-passiv tad-depożitant dovut

lill-membru meta jkun qed jiġi kkalkulat l-ammont li għandu jiġi

mħallas lura.

(8) Kull kumpens li jitħallas mill-Iskema għandu jiġi kkalkolat

fuq l-ammonti akkreditati fil-kontijiet tad-depożitant u fuq kull

imgħax li jkun akkumula sa, iżda ma jkunux ġie akkreditati fid-data

tal-kumpens. Dak il-kumpens m’għandux jaqbeż il-limiti msemmija

fir-regolament 10 fl-aggregat tiegħu.

(1) L-Iskema għandha tħallas kumpens fir-rigward ta’ Termini.

depożiti eliġibbli mingħajr il-ħtieġa li ssir talba lill-Iskema fil-

perjodu ta’ żmien applikabbli u kemm jista’ raġonevolment malajr

wara li

(a)

tkun sodisfatta li l-kondizzjonijiet imsemmija fir-

regolament 10(1) jkunu ġew sodisfatti; u

(b) tkun ikkalkolat l-ammont tal-kumpens dovut lid-

depożitant.

(2) Bla ħsara għas-subregolament (3), iż-żmien applikabbli

msemmi fis-subregolament (1) għandu jibda għaddej mill-jum li jiġi

wara d-data tal-kumpens kif ġej

(a)

għoxrin jum tax-xogħol sal-31 ta’ Diċembru 2018;

(b) ħmistax-il jum tax-xogħol mill-1 ta’ Jannar 2019

sal-31 ta’ Diċembru 2020;

(ċ)

għaxart ijiem tax-xogħol mill-1 ta’ Jannar 2021 u

sal-31 ta’ Diċembru 2023;

(d)

sebat ijiem tax-xogħol mill-1 ta’ Jannar 2024.

(3) Il-perjodu applikabbli għandu jkun ta’ tliet xhur li jibdew

għaddejin mill-jum wara d-data tal-kumpens f’dawk il-każijiet meta

jkun japplika ir-regolament 12(5) u (6) jew meta l-Iskema tkun tassew

tal-fehma b’mod raġonevoli li jista’ japplika r-regolament 12(5) u (6).

(4) Matul il-perjodu ta’ transizzjoni sal-31 Diċembru 2023,

meta l-Iskema ma tkunx tista’ tħallas kumpens fi żmien sebat ijiem

tax-xogħol, l-Iskema għandha tiżgura li d-depożitanti jkollhom aċċess

għal ammont, ekwivalenti għal tliet darbiet il-paga minima sħiħa fil-

ġimgħa fid-data tal-kumpens, biex ikopru l-ispejjeż għall-għoli tal-

ħajja, fi żmien ħamest ijiem tax-xogħol minnn meta ssir talba mid-

depożitant. L-Iskema għandha tkun tagħti biss aċċess għall-ammont

imsemmi f’dan is-subregolament fuq il-bażi ta’ informazzjoni

provduta mill-membru. Dak l-ammont għandu jitnaqqas minn dak il-

kumpens li jista’ jiġi mħallas.

(1) L-Iskema tista’ tiddifferixxi l-pagament tal-kumpens

għal wara ż-żmien stabbilit fir-regolament 13 meta

(a)

id-depożitu jkun kont mhux attiv;

(b) l-ammont li għandu jitħallas lura jitqies parti minn

bilanċ għoli temporanju; jew

(ċ)

l-ammont li għandu jitħallas lura għandu jitħallas

mid-DGS ta’ Stat Membru ospitanti kif hemm fir-regolament

35(1).

(2) Minkejja d-disposizzjonijiet tas-subregolament (1), l-

Iskema m’għandhiex tħallas kumpens fir-rigward ta’ depożitu li jkun

kont wieqaf meta l-valur tad-depożitu ikun inqas mill-ispejjeż

amministrattivi li kieku jintefqu mill-Iskema meta tkun qegħda

tħallas lura.

(3) Minkejja d-disposizzjonijiet tas-subregolament (1), l-

Iskema tista’ tissospendi kull pagament b’riferenza għal xi kont li

dwaru depożitant jew xi persuna li tkun intitolata jew ikollha interess

f’somom miżmuma fih tkun ġiet akkużata b’reat li joriġina minn jew

li jkollu x’jaqsam ma’ money laundering, sakemm tingħata sentenza

mill-Qorti.

(1)

Kull pagament lura li jsir bħala kumpens għandu jsir Munita li biha

jingħata l-

bl-Euro.

kumpens.

(2) Meta d-depożiti jinżammu f’munita li ma tkunx l-Euro, ir-

rata tal-kambju użata għandha tkun ir-rata ta’ referenza tal-kambju

applikabbli għall-Euro kkwotata mill-Bank Ċentrali Ewropew fid-

data tal-kumpens.

(1) Mingħajr preġudizzju għad-drittijiet li l-Iskema Surroga u

jista’ jkollha bil-liġi, l-Iskema għandha, meta tħallas kumpens taħt rkupru.

dawn ir-regolamenti, minnufih u awtomatikament tiġi surrogata fid-

drittijiet kollha tad-depożitant, sa l-ammont tal-kumpens imħallas,

paragunat mal-membru u, jew xi terza parti meta id-depożiti jew dak

li joħroġ minnhom ma jkunux disponibbli għad-depożitant.

(2) Meta jsir il-pagament ta’ kumpens taħt dawn ir-

regolamenti, l-Iskema għandha tiddeċiedi fid-diskrezzjoni assoluta

tagħha liema rkupri huma x’aktarx li jkunu kemm raġonevolment

possibbli kemm ta’ spiża effettiva li jsiru.

(3) Meta l-Iskema tagħmel pagamenti fil-kuntest ta’ proċeduri

ta’ riżoluzzjoni, inkluża l-applikazzjoni ta’ għodda ta’ riżoluzzjoni

jew l-eżerċizzju ta’ poteri ta’ riżoluzzjoni kif hemm fir-regolament

33, l-Iskema għandha tagħmel talba kontra l-istituzzjoni ta’ kreditu

rilevanti għal ammont ugwali għall-pagamenti tagħha. Dik it-talba

għandha tiggradwa fl-istess livell bħal depożiti koperti taħt il-liġi ta’

Malta li tirregola l-proċedimenti ta’ falliment normali.

Depożitanti li d-depożiti tagħhom ma jkunux tħallsu jew Telfien tad-dritt

ġew rikonoxxuti mill-Iskema fiż-żmien stipulat fir-regolament 13, li kumpens.

għandhom jitilfu d-dritt tagħhom li jitolbu ħlas lura tad-depożitu

tagħhom wara l-iskadenza ta’ terminu perentorju ta’ sentejn mid-data

tal-kumpens.

(1) Meta depożitant iħoss ruħu aggravat b’deċiżjoni tal- Talbiet kontra l-

Iskema dwaru jista’ jitlob lill-Iskema tikkunsidra mill-ġdid id- Iskema.

deċiżjoni tagħha. L-Iskema għandha fi żmien xahrejn minn dik it-

talba tipprovdi lil dak id-depożitant b’deċiżjoni raġunata. Dan kollu

għandu jsir mingħajr preġudizzju għad-dritt li depożitant ikollu li

jagħmel xi talba li jista’ jkollu kontra l-Iskema quddiem xi qorti

kompetenti jew tribunal ta’ ġurisdizzjoni ċivili.

(2) L-Iskema għandha, jekk tiġi hekk mitluba minn xi persuna

li tkun milquta b’deċiżjoni tal-Iskema, tagħti r-raġunijiet tagħha lil

dik il-persuna għal kull deċiżjoni bħal dik.

TAQSIMA IV

Ħtiġiet ta’ Informazzjoni

(1) Istituzzjonijiet ta’ kreditu għandhom jagħmlu

disponibbli lil depożitanti attwali u dawk prospettivi l-informazzjoni

meħtieġa għall-identifikazzjoni tal-Iskema li tagħha l-istituzzjoni u l-

friegħi tagħha jkunu membri fi ħdan l-Unjoni Ewropea. L-

istituzzjonijiet ta’ kreditu għandhom jinfurmaw lid-depożitanti

attwali u dawk prospettivi bl-esklużjonijiet applikabbli mill-

protezzjoni taħt dawn ir-regolamenti jew taħt id-Direttiva.

(2) Qabel ma jikkonkludu kuntratt dwar l-għemil ta’ depożitu,

il-membri għandhom jipprovdu lid-depożitanti bl-informazzjoni

msemmija fis-subregolament (1). Id-depożitanti għandhom

jirrikonoxxu li jkunu rċevew dik l-informazzjoni. Għandu jintuża l-

mudell stipulat fl-Iskeda għal dak l-iskop.

(3) Għandha tiġi provduta mill-membri lid-depożitanti

konferma li d-depożiti huma depożiti eliġibbli, u dan fuq id-

dikjarazzjonijiet ta’ kont tagħhom. Dawk id-dikjarazzjonijiet ta’

kontijiet għandhom ikunu jinkludu referenza għall-fuljett ta’

informazzjoni murija fl-Iskeda. Is-sit elettroniku tal-Iskema għandu

jiġi indikati fuq il-fuljett ta’ informazzjoni. Il-fuljett ta’ informazzjoni

muri fl-Iskeda għandu jngħata lid-depożitanti mill-anqas darba fis-

sena.

(4) L-informazzjoni prevista fis-subregolament (1) għandha

ssir disponibbli bil-mod preskritt b’dawn ir-regolamenti fil-lingwa li

tkun ġiet miftiehma bejn id-depożitant u l-membru meta jkun infetaħ

il-kont jew f’xi ilsien uffiċjali ta’ Malta.

(5) L-istituzzjonijiet ta’ kreditu għandhom jillimitaw ruħhom

fir-reklamar milli jużaw l-informazzjoni msemmija fis-

subregolamenti (1), (2) u (3) għal referenza fattwali tad-DGS li jkun

qed jiggarantixxi l-prodott li r-reklam ikun jirreferi għalih u kull

informazzjoni addizzjonali meħtieġa bil-liġi. Dik l-informazzjoni

tista’ tkun testendi għal deskrizzjoni fattwali tal-funzjonament tad-

DGS iżda m’għandux ikun fiha referenza għal kopertura ta’ depożiti

mingħajr limitu.

(6) Fil-każ ta’ amalgamazzjoni, konverżjoni ta’ sussidjarji fi

friegħi jew operazzjonijiet simili, l-istituzzjoni ta’ kreditu li tgħaddi

minn dik l-operazzjoni għandha tinforma lid-depożitanti tagħha b’dik

l-operazzjoni mill-inqas xahar qabel ma l-operazzjoni tibda sseħħ

legalment kemm-il darba l-awtorità kompetenti ma tippermettix li

jkun hemm żmien iqsar għat-temm tagħha fuq il-bażi ta’ segretezza

kummerċjali jew stabbiltà finanzjarja.

(7) L-istituzzjoni ta’ kreditu msemmija fis-subregolament (6)

għandha tagħti lid-depożitanti tagħha perjodu ta’ tliet xhur wara n-

notifika tal-amalgamazzjoni jew il-konverżjoni jew operazzjoni simili

biex tirtira jew tittrasferixxi lil xi istituzzjoni ta’ kreditu oħra,

mingħajr ma teħel ebda penalità, id-depożiti eliġibbli tagħhom inkluż

kull imgħax akkumulat u benefiċċju safejn dawn jeċċedu l-livell ta’

kopertura kif hemm fir-regolament 28 fil-waqt tal-operazzjoni.

(8) Jekk istituzzjoni ta’ kreditu tirtira jew tiġi eskluża mid-

DGS li tkun membru tagħha, l-istituzzjoni ta’ kreditu għandha

tinforma lid-depożitanti fi żmien xahar minn dak l-irtirar jew dik l-

esklużjoni.

(9) Jekk depożitant juża l-kummerċ bankarju bl-internet, l-

informazzjoni meħtieġa li tiġi żvelata mill-istituzzjoni ta’ kreditu kif

hawn f’dawn ir-regolament jistgħu jiġu kkomunikati b’mezzi

elettroniċi. Meta d-depożitant ikun hekk jeħtieġ, din għandha tiġi

kkomunikata bil-miktub.

(10) L-awtorità kompetenti tista’ minn żmien għal żmien, u dan

b’żieda, tispeċifika kull informazzjoni oħra bħal dik li l-membri

għandhom jipprovdu lid-depożitanti fir-rigward tal-Iskema u tal-

operazzjonijiet tagħha, kif ukoll il-mod u l-forma li biha għandha tiġi

provduta dik l-informazzjoni.

(11) Is-sit elettroniku tal-Iskema għandu jkun fih l-

informazzjoni meħtieġa għad-depożitanti, b’mod partikolari

informazzjoni dwar id-dispożizzjonijiet li għandhom x’jaqsmu mal-

proċess għal, u l-kondizzjonijiet ta’, garanzija ta’ depożitu kif hemm

previst taħt dawn ir-regolamenti.

(1)

Il-membri għandhom jiżguraw li jimmarkaw -

Wiri ta’ fajl ta’

klijent wieħed u

rappurtaġġ fuq

(a)

depożiti eliġibbli, li ma jkunux dawk speċifikati fil-

fajl diferit.

paragrafi (b) u (ċ);

(b) depożiti eliġibbli li jżommu xi fondi li l-depożitant

ma jkollu assolutament ebda jedd għalihom; u;

(ċ)

depożiti li ma jkunux attivi;

b’mod li jkun jippermetti identifikazzjoni immedjata ta’ dawk id-

depożiti.

(2) L-informazzjoni meħtieġa bis-subregolament (1) għandha

tinżamm b’mod elettroniku.

(3) Membru għandu jipprepara u jipprovdi lill-Iskema l-wiri

ta’ fajl ta’ klijent wieħed u ta’ fajl differit għal kull depożitant li

jkollu depożitu eliġibbli

(a)

fi żmien erbgħa u għoxrin siegħa minn meta d-

depożiti rilevanti tiegħu jsiru depożiti mhux disponibbli;

(b) fi żmien erbgħa u għoxrin siegħa minn meta ssir

talba mill-Iskema;

(ċ)

fi żmien tlett xhur minn meta jiġu aċċettati l-ewwel

depożiti; u

(d) fi żmien tliet xhur minn meta ssir bidla materjali fis-

sistema SCV tal-membru.

(4) Jekk depożitant ma jkollux kontijiet jew bilanċi li jkunu

meħtieġa li jiġu inklużi fil-wiri ta’ fajl ta’ klijent wieħed u, jew fil-fajl

differit, il-membru għandu jipprovdi konferma ta’ dan lill-Iskema.

(5) L-informazzjoni meħtieġa li tiġi provduta fil-wiri ta’ fajl

ta’ klijent wieħed u ta’ fajl differit konformement mas-subregolament

(3) għandha tkun tinkludi dik l-informazzjoni u għandu jkollha dak il-

format u tilħaq dawk il-ħtiġiet tekniċi hekk kif jiġu pubblikati minn

żmien għal żmien mill-Iskema b’avviż fuq is-sit elettroniku tagħha.

Il-pubblikazzjoni ta’ dak l-avviż fuq is-sit elettroniku tal-Iskema

għandu jkun jorbot lill-membri.

(1)

Membru għandu jipprovdi rapport ta’ SCV lill-

Iskema

(a)

fi żmien tliet xhur minn meta jiġu aċċettati l-ewwel

depożiti;

(b) fi żmien tliet xhur minn bidla materjali fis-sistema

ta’ SCV ta’ membru;

(ċ)

ta’ kull sena sa mhux aktar tard mit-30 ta’ Ġunju ta’

kull sena kalendarja;

(d)

minnufih malli ssir talba mill-Iskema.

(2) L-informazzjoni meħtieġa biex tiġi provduta f’rapport

dwar SCV kif hemm fis-subregolament (1) għandha tkun tinkludi

informazzjoni bħal dik u għandu jkollha dak il-format u tilħaq dawk

il-ħtiġiet tekniċi li jiġu pubblikati minn żmien għal żmien mill-

Iskema b’avviż fuq il-sit elettroniku tagħha. Il-pubblikazzjoni ta’ dak

l-avviż fuq is-sit elettroniku tal-Iskema għandu jkun jorbot fuq il-

membri.

(3) Kull membru għandu jkollu pjan ta’ kontinġenza effettiv

hekk li, fil-każ ta’ dekadenza, jibqa’ jżomm riżorsi adegwati biex

jipprovdi lill-Iskema b’kull informazzjoni rilevanti meħtieġa minnha

biex iħallas lura lid-depożitanti.

(1) B’żieda mal-ħtiġiet kif hemm fir-regolamenti 20 u Obbligu li tiġi

21, il-membri għandhom jiżguraw li jkollhom sistemi ta’ provduta

informazzjoni

informazzjoni elettronika effettivi għas-sodisfazzjon tal-Iskema biex fuq l-Iskema.

ikunu jistgħu jipprovdu lill-Iskema, f’kull waqt u malli din issaqsi

għaliha, kull informazzjoni rilevanti għall-kisba tal-għan u l-

funzjonijiet tal-Iskema jew għall-amministrazzjoni kif imiss tal-

Iskema, inkluż il-ħlas lura ta’ depożitanti u skopijiet ta’ verifika.

(2) L-Iskema tista’ teħtieġ lill-membri, sew direttament sew

permezz tal-awtorità kompetenti, jippreparaw u jipprovdu l-

informazzjoni msemmija fis-subregolament (1), f’dak il-perjodu li

jista’ jiġi stabbilit bl-Iskema. It-talba tista’ tiġi indirizzata lill-

membru jew lil xi direttur tiegħu jew lil dawk l-uffiċjali li jkollhom

f’idejhom dik l-informazzjoni.

(3) Membru għandu, b’avviż lill-Iskema sat-tmiem ta’ Jannar

ta’ kull sena jipprovdi stqarrija tad-depożiti koperti totali tiegħu

(esklużi l-bilanċi għolja temporanji), fit-tmiem tas-sena finanzjarja

preċedenti bil-għan li tiġi determinata il-kontribuzzjoni tal-membru

għas-sena finanzjarja relevanti.

(4) Jekk membru ma jagħtix avviż tad-dikjarazzjoni

msemmija fil-paragrafu preċedenti sad-data meta din tkun dovuta kif

jista’ jkun hemm f’xi ħtiġijiet preskritti

(a)

il-membru għandu jħallas dritt amministrattiv ta’

ħames mitt euro (€500) lill-Iskema; u

(b) il-kontribuzzjoni tal-membru għandha tiġi kalkulata

billi jintuża (meta jkun hekk rilevanti) il-prospett tad-depożiti

koperti totali tal-membru (bl-esklużjoni ta’ bilanċi għolja

temporanji) applikabbli għall-perjodu preċedenti, immultiplikati

bil-fattur ta’ 1.20 jew fuq kull bażi raġonevoli oħra, billi jsiru

dawk l-aġġustamenti li jkunu jidhru xierqa f’imposti

sussegwenti ġaladarba l-membru jipprovdi dikjarazzjoni

korretta kif meħtieġ b’dawn ir-regolamenti.

(5) Jekk membru ma jkunx konformi mal-obbligi li jkun dovut

josserva bħala membru tal-Iskema, inklużi dawk kif hemm fir-

regolamenti 20, 21 u f’dan ir-regolament, l-awtorità kompetenti

għandha tiġi notifikata minnufih u, b’koperazzjoni mal-Iskema,

għandha malajr tieħu l-miżuri kollha xierqa biex tiżgura li l-membru

jikkonforma ruħu mal-obbligi li jkollu.

(6) Jekk il-miżuri meħuda taħt dawn ir-regolamenti jonqsu

milli jiżguraw konformità mill-membri, l-Iskema tista’, bla ħsara

għall-kunsens espress tal-awtorità kompetenti, tagħti mhux anqas

minn avviż ta’ xahar dwar l-intenzjoni tagħha li teskludi lill-membru

minn sħubija fl-Iskema. Depożiti magħmula qabel l-iskadenza ta’ dak

il-perjodu ta’ avviż għandhom jibqgħu koperti għalkollox mill-

Iskema. Jekk, malli jiskadi dak il-perjodu ta’ avviż, il-membru ma

jkunx konformi mal-obbligi li jkollu, l-Iskema għandha teskludih

mis-sħubija.

(7) Id-depożiti miżmuma fid-data li fiha l-membru jiġi eskluż

mis-sħubija tal-Iskema għandhom jibqgħu jiġu koperti mill-Iskema.

TAQSIMA V

Finanzjament

(1)

L-awtorità kompetenti għandha tiżgura li

(a)

l-Iskema jkollha japplikaw sistemi adegwati li

jiddeterminaw ir-responsabbiltajiet potenzjali tagħha; u

(b) il-mezzi finanzjarji disponibbli tal-Iskema jkunu

proporzjonali għal kull passiv bħal dak.

(2) Il-mezzi finanzjarji disponibbli tal-Iskema għandhom

ikunu jammontaw għal 1.3% mid-depożiti koperti tal-membri tagħha,

jew dik il-perċentwali ogħla li tista’ tiġi stabbilita b’regoli bankarji

kif hemm fir-regolament 42.

Iżda

(a)

meta l-kapaċità ta’ finanzjament tonqos minn dak il-

livell ta’ mira, il-pagament ta’ kontribuzzjonijiet għandu jerġa’

jibda mill-inqas sa meta l-livell ta’ mira jerġa’ jintlaħaq mill-

ġdid;

(b) jekk il-mezzi finanzjarji disponibbli jkunu ġew

mnaqqsa għal inqas minn żewġ terzi ta’ dak il-livell ta’ mira, il-

kontribuzzjoni regolari għandha tiġi stabbilita f’livell li jkun

jippermetti li dak il-livell ta’ mira jintlaħaq fi żmien sitt snin;

(ċ)

il-kontribuzzjoni regolari għandha tieħu kont dovut

tal-fażi taċ-ċiklu tan-negozju, u tal-impatt li jista’ jkollhom il-

kontribuzzjonijiet pro-ċikliċi meta jiġu stabbiliti l-

kontribuzzjonijiet annwali fil-kuntest ta’ dawn ir-regolamenti.

(3) Il-mezzi finanzjarji disponibbli li għandhom jittieħdu

f’konsiderazzjoni sabiex jintlaħaq il-livell ta’ mira jistgħu jinkludu l-

impenji ta’ pagament. Sa mhux aktar tard mit-3 ta’ Lulju 2024, is-

sehem totali tal-impenji ta’ pagament m’għandux jeċċedi 30% tal-

ammont totali tal-mezzi finanzjarji disponibbli miġbura kif hawn

f’dan ir-regolament. Iżda l-awtorità kompetenti tista’ toħroġ direttivi

bankarji kif hemm fir-regolament 42 dwar il-pagament ta’ impenji ta’

pagament, filwaqt li jittieħed kont ta’ linji gwida maħruġa mill-

Awtorità Bankarja Ewropea.

(4) Il-livell ta’ mira msemmi fis-subregolament (2)

m’għandux jinkludi l-kontribuzzjonijiet għal arranġamenti ta’

finanzjament tar-riżoluzzjoni taħt id-Direttiva 2014/59/UE, inklużi

mezzi finanzjarji disponibbli li jittieħdu f’konsiderazzjoni sabiex

jintlaħaq il-livell ta’ mira tar-riżoluzzjoni tal-finanzjament

arranġamenti taħt id-Direttiva 2014/59/UE.

(5) L-Iskema għandha tiżgura li jkollha operattivi

arranġamenti ta’ fondi alternattivi adegwati biex jippermettulha li

tikseb fondi għal żmien qasir biex jintlaħqu l-talbiet kontra l-Iskema.

(6) L-Iskema għandha, mill-31 ta’ Marzu ta’ kull sena,

tinforma lill-Awtorità Bankarja Ewropea dwar l-ammont ta’ depożiti

koperti f’Malta u l-ammont tal-mezzi finanzjarji disponibbli tal-

Iskema fil-31 Diċembru tas-sena preċedenti.

L-Iskema tista’ f’kull waqt teħtieġ lill-membri jħallsu Kontribuzzjoniji

et għall-Iskema.

dawn il-kontribuzzjonijiet li ġejjin

(a)

Kontribuzzjoni għall-Kumpens;

(b)

Spejjeż amministrattivi dwar il-Kontribuzzjoni.

(1) Bla ħsara għar-regolament 23(2), l-Iskema tista’ Kontribuzzjoni

tkun teħtieġ li membri jħallsu kontribuzzjoni għall-kumpens mill- għall-Kumpens.

inqas darba f’kull sena finanzjarja, li tibda għaddejja mis-sena

finanzjarja li ttemm fil-31 ta’ Diċembru 2016. Il-kontribuzzjoni għall-

kumpens għandha tiġi allokata għall-mezzi finanzjarji disponibbli.

(2) Jekk il-mezzi finanzjarji disponibbli tal-Iskema ma jkunux

biżżejjed biex iħallsu lura lid-depożitanti meta d-depożiti ma

jibqgħux disponibbli, l-Iskema għandha titlob lill-membri jħallsu

kontribuzzjoni straordinarja għall-kumpens ta’ mhux aktar minn

0.5% mid-depożiti koperti tagħhom għal kull sena finanzjarja. L-

Iskema tista’, f’ċirkostanzi eċċezzjonali u bil-kunsens tal-awtorità

kompetenti, teħtieġ kontribuzzjonijiet ogħla.

(3) Il-kontribuzzjoni

għall-kumpens

(inkluża

kull

kontribuzzjoni straordinarja għall-kumpens) għandha tkun ibbażata

fuq l-ammont ta’ depożiti koperti (esklużi l-bilanċi għolja temporanji)

ta’ kull membru u l-grad ta’ riskju li jerfa’ l-membru rispettiv

Iżda membru jista’ jkun meħtieġ li jħallas kontribuzzjoni

minima taħt kontribuzzjoni għall-kumpens irrispettivament mill-

ammont ta’ depożiti kopert li jkollu jew mill-grad tar-riskju tiegħu.

Biex jiġi evitat kull dubju u salvi d-disposizzjonijiet ta’

dawn ir-regolamenti, il-kontribuzzjoni annwali għall-kumpens

għandha tiġi stabbilita mill-Iskema għal kull membru wara li jitqiesu

(a)

il-perċentwali applikabbli mid-depożiti koperti tal-

membri tagħha kif speċifikat taħt ir-regolament 23(2);

(b) id-depożiti koperti ta’ kull membru fl-aħħar tas-sena

immedjatament preċedenti għas-sena finanzjarja relevanti;

(ċ)

il-grad ta’ riskju li jerfa’ kull membru b’referenza

għal piż ta’ riskju aggregat kif hemm fir-regolament 25(5) għas-

sena immedjatament preċedenti għas-sena finanzjarja relevanti;

u

(d)

koeffiċjent aġġustat kif hemm fir-regolament 25(6).

(4) Bla ħsara għad-disposizzjonijiet tas-subregolament (3), l-

awtorità kompetenti għandha permezz ta’ regoli bankarji

tistabbilixxi

(a)

metodu (hawn aktar ’il quddiem imsejjaħ "metodu

bbażat fuq ir-riskju") biex jiġi stabbilit il-grad ta’ riskju li

jintrefa’ mill-membri;

(b) metodu (hawn aktar ’il quddiem imsejjaħ il-"metodu

ta’ kontribuzzjoni għall-kumpens") biex jiġi stabbilit l-ammont

tal-kontribuzzjoni għall-kumpens dovut minn kull membru għal

kull sena finanzjarja.

Iżda

(i) l-awtorità kompetenti tista’ tirrevedi jew

temenda metodu li jkun ibbażat fuq ir-riskju jew metodu

ta’ kontribuzzjoni għall-kumpens, filwaqt li jittieħed kont

fejn ikun adatt ta’ kull linja gwida li tista’ tinħareġ mill-

Awtorità Bankarja Ewropea;

(ii)

l-awtorità kompetenti għandha tinforma lill-

Awtorità Bankarja Ewropea dwar il-metodu bbażat fuq ir-

riskju.

(5) L-awtorità kompetenti għandha tistabbilixxi għall-inqas

darba f’kull sena finanzjarja l-Piż Aggregat ta’ Riskju għal kull

membru (ARWi) skond il-metodu bbażat fuq ir-riskju għall-fini li tiġi

stabbilita l-kontribuzzjoni għall-kumpens dwar is-sena finanzjarja

relevanti.

(6) L-awtorità kompetenti għandha tistabbilixxi għall-inqas

darba f’kull sena finanzjarja l-koeffiċjent ta’ aġġustament (μ) għall-

membri kollha bil-għan li jintlaħaq il-livell ta’ mira kull meta l-

kontribuzzjonijiet ta’ riskju-aġġustat totali jkunu għolja wisq jew

baxxi wisq għall-fini li tiġi determinata l-kontribuzzjoni għall-

kumpens dwar is-sena finanzjarja relevanti.

(7) Kull membru għandu jipprovdi lill-awtorità kompetenti l-

informazzjoni meħtieġa biex jiġi determinat il-Piż Aggregat ta’

Riskju ta’ dak il-membru;

(8) Bla ħsara għad-disposizzjonijiet tar-regolament 23(3), l-

Iskema tista’ tipprovdi li porzjon minn kontribuzzjoni għall-kumpens

jiġi provdut lill-Iskema permezz ta’ impenn ta’ pagament

Iżda b’referenza għas-sena finanzjarja murija fl-ewwel

kolonna, il-porzjon totali tal-impenn ta’ pagament m’għandux jeċċedi

l-perċentwali murija fit-tieni kolonna

Sena finanzjarja

Impenji ta’ Pagament (l-ogħla)

74.50%

69.00%

63.50%

58.00%

9. (1)

A deposit is an eligible deposit only if it is held with

a member

(a)

in Malta; or

(b) in that member’s branch which is located in another

Member State.

(2) The following are not eligible deposits

(a)

subject to regulation 12(5), deposits made by other

credit institutions on their own behalf and for their own account;

(b) own funds as defined in point (118) of Article 4(1)

of Regulation (EU) No 575/2013;

(c)

deposits arising out of transactions in connection

with which there has been a criminal conviction for money

laundering as defined in Article 1(2) of Directive 2005/60/EC;

(d) deposits by financial institutions as defined in point

(26) of Article 4(1) of Regulation (EU) No 575/2013;

(e)

deposits by investment firms as defined in point (1)

of Article 4(1) of Directive 2004/39/EC;

(f)

deposits the holder of which has never been

identified pursuant to Article 9(1) of Directive 2005/60/EC,

when they have become unavailable;

(g) deposits by insurance undertakings and by

reinsurance undertakings as referred to in Article 13(1) to (6) of

Directive 2009/138/EC;

(h)

deposits by collective investment undertakings;

(i)

deposits by pension and retirement funds;

(j)

deposits by public authorities;

(k) debt securities issued by a credit institution and

liabilities arising out of own acceptances and promissory notes;

(l)

deposits held with a member in a branch of that

member which is located in a non-Member State.

10. (1) The Scheme shall pay compensation in accordance Coverage of

with these regulations in respect of an eligible deposit if it is satisfied eligible

deposits.

that the eligible deposit is a deposit with a member which is in

default.

(2) The maximum compensation sum payable for the

aggregate deposits of each depositor is EUR 100,000, save that

additional compensation may be payable in cases to which sub-

regulation (3) applies.

(3) In addition to the maximum compensation sum payable

pursuant to sub-regulation (2), the maximum compensation sum

payable for a temporary high balance is EUR 500,000.

11. (1)

In order to qualify as a temporary high balance, a Temporary high

part of an eligible deposit in excess of EUR 100,000 must meet any balances.

one of the following additional criteria

(a)

it comprises

(i) monies deposited in preparation for the

purchase of a private residential property by the depositor;

or

(ii) monies which represent the proceeds of sale

of a private residential property of the depositor; or

(b)

it comprises sums paid to the depositor in respect of

(i) a separation, divorce or dissolution of their

civil union; or

(ii)

benefits payable on retirement; or

(iii) a claim for compensation for unfair dismissal;

or

(iv) a claim for compensation for redundancy; or

(v)

benefits payable for death or bodily injury; or

(vi) a claim for compensation for wrongful

conviction.

(2) In the notice published pursuant to regulation 8(3), the

Scheme shall inform depositors of the credit institution concerned of

the following

(a)

that depositors may be entitled to additional

compensation if all or part of the eligible deposit in excess of

EUR 100,000 qualifies as a temporary high balance;

(b) that in order to claim such additional compensation,

a depositor must provide the Scheme with a written application

and evidence supporting the depositor’s claim that all or part of

the eligible deposit in excess of EUR 100,000 qualifies as a

temporary high balance;

(c)

that a depositor may make more than one claim if

there are multiple events giving rise to temporary high balances;

and

(d) the date by which such written application and

supporting evidence should be submitted to the Scheme.

(3) The Scheme shall pay compensation to a depositor in

respect of a temporary high balance in accordance with regulation

10(3) if it is satisfied that there is a sufficient link between an event

giving rise to a temporary high balance and the part of the eligible

deposit in excess of EUR 100,000, taking into account the following

considerations

(a)

the written application and evidence provided by the

depositor under sub-regulation (2); and

(b)

any other information that the Scheme considers

relevant.

(4) The Scheme shall pay compensation to a depositor in

accordance with regulation 10(3) in respect of each temporary high

balance that the depositor has with any one member.

(5) The protection for temporary high balances under

regulation 10(3) shall run for a period of six months from the later of

(a)

the first date on which a temporary high balance is

credited to a depositor’s account, or to another account on a

person’s behalf; and

(b) the first date on which the temporary high balance

becomes legally transferable to the depositor.

(6) The Scheme shall, within three months of the

compensation date, pay to the depositor a sum representing the

amount due to the depositor in respect of the temporary high balance

unless one or more of the provisions of sub-regulations (7) and (8)

applies.

(7) The Scheme may defer payment in respect of a temporary

high balance for a period in excess of the period specified in sub-

regulation (6) where

(a)

the depositor provides the written application and

evidence referred to in sub-regulation (2) to the Scheme more

than two months following the date of the written notice from

the Scheme under sub-regulation (2); or

(b) one or more of the circumstances set out in

regulation 14 arise.

(8) If the Scheme considers that the written application and

evidence provided by a depositor under sub-regulation (2) does not

demonstrate a sufficient link between an event giving rise to a

temporary high balance and the eligible deposit in excess of EUR

100,000, the Scheme shall write as soon as reasonably possible to that

depositor to

(a)

request, within such time as the Scheme may

specify, any additional information that the Scheme considers

necessary to determine the claim; or

(b) confirm that the Scheme has determined that the

deposit is not a temporary high balance, setting out the reasons

for its determination and a summary of any right for

reconsideration or appeal.

12. (1) Compensation shall be calculated by reference to

eligible deposits held on the compensation date.

(2) The limit referred to in regulation 10 applies to the

aggregate eligible deposits placed by a depositor with the same

member, irrespective of the number of accounts, the currency, or the

location within the EEA.

(3) The share of each depositor of a joint account shall be

considered separately in calculating the limits provided for in

regulation 10, except where sub-regulation (4) applies. In the absence

of contrary provision, the joint account shall be divided equally

among the depositors.

(4) Deposits in an account to which two or more persons are

entitled as members of a business partnership, association, or

grouping of a similar nature, without legal personality, shall be

aggregated and treated as if made by a single depositor for the

purpose of calculating the limit provided for in regulation 10.

(5) Where a depositor is not absolutely entitled to the sums

held in an account and another person is absolutely entitled to such

sums, the person who is absolutely entitled shall be entitled to

compensation in respect of the deposit, provided that such person has

been identified or is identifiable before the compensation date.

(6) Where several persons are absolutely entitled, the share of

each under the arrangements subject to which the deposit is managed

shall be taken into account when the limit provided for in regulation

10 is calculated.

(7) Liabilities of the depositor due to the member shall not be

taken into account when calculating the repayable amount.

(8) Any compensation payable by the Scheme shall be

calculated on the amounts credited to a depositor’s accounts and on

any interest which has accrued until, but has not been credited on the

compensation date. Such compensation shall not exceed the limits

referred to in regulation 10 in the aggregate.

13. (1) The Scheme shall pay compensation in respect of Time limits.

eligible deposits without a request to the Scheme being necessary

within the applicable time period and as soon as reasonably

practicable after

(a)

it is satisfied that the conditions in regulation 10(1)

have been satisfied; and

(b) it has calculated the amount of compensation due to

the depositor.

(2) Saving sub-regulation (3), the applicable time period

referred to in sub-regulation (1) shall be reckoned the day following

the compensation date as follows

(a)

twenty working days until 31 December 2018;

(b) fifteen working days from 1 January 2019 until 31

December 2020;

(c)

ten working days from 1 January 2021 and until 31

December 2023;

(d)

seven working days from 1 January 2024.

(3) The applicable period shall be three months reckoned the

day following the compensation date in those cases where regulation

12(5) and (6) applies or where the Scheme reasonably believes that

regulation 12(5) and (6) may apply.

(4) During the transitional period until 31 December 2023,

where the Scheme cannot pay compensation within seven working

days, the Scheme shall ensure that depositors have access to an

amount, equivalent to three times the gross weekly minimum wage on

the compensation date, to cover the cost of living, within five

working days of a request from the depositor. The Scheme shall only

grant access to the amount referred to in this sub-regulation on the

basis of data provided by the member. Such amount shall be deducted

from the compensation which may be payable.

14. (1) The Scheme may defer the payment of Deferred

compensation beyond the time period set out in regulation 13 where: payment.

(a)

the deposit is a not active account;

(b) the amount to be repaid is deemed to be part of a

temporary high balance; or

(c)

the amount to be repaid is to be paid out by the DGS

of a host Member State in accordance with regulation 35(1).

(2) Notwithstanding the provisions of sub-regulation (1), the

Scheme shall not pay compensation in respect of a deposit which is a

dormant account where the value of the deposit is lower than the

administrative costs that would be incurred by the Scheme in making

such a repayment.

(3) Notwithstanding the provisions of sub-regulation (1), the

Scheme may suspend any payment referring to any account in respect

of which a depositor or any person entitled to or interested in sums

held therein has been charged with an offence arising out of or in

relation to money laundering, pending the judgment of the court.

15. (1)

All compensation repayments shall be made in euro.

(2) Where deposits are maintained in a currency other than the

euro, the exchange rate used shall be the applicable euro foreign

exchange reference rate quoted by the European Central Bank on the

compensation date.

16. (1) Without prejudice to the rights which the Scheme

may have at law, the Scheme shall, upon paying compensation under

these regulations, immediately and automatically be subrogated to all

the rights of the depositor, up to the amount of the compensation paid,

as against the member and, or any third party in respect of or arising

out of the deposits being unavailable to the depositor.

(2) Upon paying compensation under these regulations, the

Scheme shall decide in its absolute discretion which recoveries are

likely to be both reasonably possible and cost effective to pursue.

(3) Where the Scheme makes payments in the context of

resolution proceedings, including the application of resolution tools

or the exercise of resolution powers in accordance with regulation 33,

the Scheme shall have a claim against the relevant credit institution

for an amount equal to its payments. That claim shall rank at the same

level as covered deposits under Maltese law governing normal

insolvency proceedings.

17. Depositors, whose deposits were not repaid or

acknowledged by the Scheme within the time-limits set out in

regulation 13, shall forfeit their right to claim repayment of their

deposit after the lapse of a peremptory term of two years from the

compensation date.

18. (1)

A depositor who is aggrieved by a decision of the

Scheme in his regard may request the Scheme to reconsider its

decision. The Scheme shall within two months from such request

provide the said depositor with a reasoned decision. The foregoing

shall be without prejudice to the right of a depositor to bring forward

any claim he may have against the Scheme before a competent court

or tribunal of civil jurisdiction.

(2) The Scheme shall, if requested by any person who is

affected by a decision of the Scheme, give reasons to such person for

any such decision.

PART IV

Information Requirements

19. (1) Credit institutions shall make available to actual and Depositor

intending depositors the information necessary for the identification information.

of the Scheme or other deposit guarantee schemes of which the

institution and its branches are members within the European Union.

Credit institutions shall inform actual and intending depositors of the

applicable exclusions from protection under these regulations or the

Directive.

(2) Before entering into a contract on deposit-taking, members

shall provide depositors with the information referred to in sub-

regulation (1). The depositors shall acknowledge the receipt of that

information. The template set out in the Schedule shall be used for

that purpose.

(3) Confirmation that the deposits are eligible deposits shall be

provided by members to depositors on their statements of account.

Such statements of account shall include a reference to the

information sheet set out in the Schedule. The website of the Scheme

shall be indicated on the information sheet. The information sheet set

out in the Schedule shall be provided to the depositor at least once

annually.

(4) The information provided for in sub-regulation (1) shall be

made available in the manner prescribed by these regulations in the

language that was agreed by the depositor and the member when the

account was opened or in an official language of Malta.

(5) Credit institutions shall limit the use in advertising of the

information referred to in sub-regulations (1), (2) and (3) to a factual

reference to the DGS guaranteeing the product to which the

advertisement refers and to any additional information required at

law. Such information may extend to the factual description of the

functioning of the DGS but shall not contain a reference to unlimited

coverage of deposits.

(6) In the case of a merger, conversion of subsidiaries into

branches or similar operations, the credit institution undergoing such

operation shall inform its depositors of such operation at least one

month before the operation takes legal effect unless the competent

authority allows a shorter deadline on the grounds of commercial

secrecy or financial stability.

(7) The credit institution referred to in sub-regulation (6) shall

give its depositors a three-month period following notification of the

merger or conversion or similar operation to withdraw or transfer to

another credit institution, without incurring any penalty, their eligible

deposits including all accrued interest and benefits in so far as they

exceed the coverage level pursuant to regulation 28 at the time of the

operation.

(8) If a credit institution withdraws or is excluded from the

DGS of which it is a member, the credit institution shall inform its

depositors within one month of such withdrawal or exclusion.

(9) If a depositor uses internet banking, the information

required to be disclosed by the credit institution in terms of this

regulation may be communicated by electronic means. Where the

depositor so requests, it shall be communicated on paper.

(10) The competent authority may from time to time, and in

addition, specify such other information that members are to provide

to depositors regarding the Scheme and its operations, as well as the

manner and form in which such information shall be provided.

(11) The website of the Scheme shall contain the necessary

information for depositors, in particular information concerning the

provisions regarding the process for and conditions of deposit

guarantee as envisaged under these regulations.

20. (1)

Members shall ensure that they mark -

(a)

eligible deposits, other than those specified in sub-

paragraph (b) and (c);

(b) eligible deposits which hold any funds to which the

depositor is not absolutely entitled; and

(c)

eligible deposits which are not active;

in a way that allows an immediate identification of such deposits.

(2) The information required in sub-regulation (1) shall be

electronically stored.

(3) A member shall prepare and provide the Scheme with a

single customer view file and deferred file for each depositor with an

eligible deposit

(a)

within twenty-four hours of its relevant deposits

becoming unavailable deposits;

(b)

within twenty-four hours of a request by the

Scheme;

(c)

within three months of first accepting deposits; and

(d) within three months of a material change in the

member‘s SCV system.

(4) If a depositor does not have any accounts or balances

which are required to be included within the single customer view file

and, or deferred file, the member should provide confirmation of this

to the Scheme.

(5) The information required to be provided in a single

customer view file and deferred file pursuant to sub-regulation (3)

shall include such data and shall be in such format and meet such

technical requirements as shall be published from time to time by the

Scheme by notice on its website. The publication of such notice on

the Scheme’s website shall be binding on members.

21. (1)

A member shall provide the Scheme with an SCV SCV report.

report

(a)

within three months of first accepting deposits;

(b) within three months of a material change in the

member‘s SCV system;

(c)

annually by not later than the 30th June of each

calendar year;

(d)

promptly upon request by the Scheme.

(2) The information required to be provided in an SCV report

pursuant to sub-regulation (1) shall include such data and shall be in

such format and meet such technical requirements as shall be

published from time to time by the Scheme by notice on its website.

The publication of such notice on the Scheme’s website shall be

binding on members.

(3) Every member shall have a contingency plan in place so

that, in the event of its failure, it retains adequate resources in order to

provide the Scheme with any relevant information required by it for

repayment to depositors.

22. (1) In addition to the requirements pursuant to

regulations 20 and 21, members shall ensure that they have electronic

information systems in place to the satisfaction of the Scheme to be

able to provide to the Scheme, at any time and upon its request, all

information relevant for the achievement of the Scheme’s objective

and functions or for the proper administration of the Scheme,

including the repayment of depositors and testing purposes.

(2) The Scheme may require members, either directly or

through the competent authority, to prepare and provide the

information referred to in sub-regulation (1), within a period of time

as may be established by the Scheme. The request may be addressed

to the member or to any of its directors or officials who are in

possession of such information.

(3) A member shall by notice to the Scheme by the end of

January of each year provide a statement of its total covered deposits

(excluding temporary high balances), at the end of the preceding

financial year for the purpose of determining the member’s

contribution for the relevant financial year.

(4) If a member does not give notice of the statement referred

to in the preceding paragraph by the date on which it is due in

accordance with any prescribed requirements

(a)

the member shall pay an administrative fee of five

hundred euro (€500) to the Scheme; and

(b) the member’s contribution will be calculated using

(where relevant) the statement of the member’s total covered

deposits (excluding temporary high balances) applicable to the

previous period, multiplied by the factor of 1.20 or on any other

reasonable basis, making such adjustments as seem appropriate

in subsequent levies once the member provides a correct

statement as required by these regulations.

(5) If a member does not comply with the obligations

incumbent on it as a member of the Scheme, including those pursuant

to regulations 20, 21 and this regulation, the competent authority shall

be notified immediately and, in cooperation with the Scheme, shall

promptly take all appropriate measures to ensure that the member

complies with its obligations.

(6) If the measures taken under these regulations fail to secure

compliance on the part of the member, the Scheme may, subject to the

express consent of the competent authority, give not less than one

month’s notice of its intention to exclude the member from

membership of the Scheme. Deposits made before the expiry of that

notice period shall continue to be fully covered by the Scheme. If, on

expiry of that notice period, the member has not complied with its

obligations, the Scheme shall exclude it from membership.

(7) Deposits held on the date on which a member is excluded

from membership of the Scheme shall continue to be covered by the

Scheme.

PART V

Funding

23. (1)

The competent authority shall ensure that

Financing of the

Scheme.

(a)

the Scheme has in place adequate systems to

determine its potential liabilities; and

(b) the available financial means of the Scheme is

proportionate to those liabilities.

(2) The available financial means of the Scheme shall amount

to 1.3% of the covered deposits of its members, or such higher

percentage as may be established by banking rules pursuant to

regulation 42

Provided that

(a)

where the financing capacity falls short of such

target level, the payment of contributions shall resume at least

until the target level is reached again;

(b) if the available financial means have been reduced

to less than two-thirds of such target level, the regular

contribution shall be set at a level allowing such target level to

be reached within six years;

(c)

the regular contribution shall take due account of the

phase of the business cycle, and the impact procyclical

contributions may have when setting annual contributions in the

context of these regulations.

(3) The available financial means to be taken into account in

order to reach the target level may include payment commitments. By

not later than 3 July 2024, the total share of payment commitments

shall not exceed 30% of the total amount of available financial means

raised in accordance with this regulation

Provided that the competent authority may issue banking

rules pursuant to regulation 42 on payment commitments, account

being taken of any guidelines issued by the European Banking

Authority.

(4) The target level referred to in sub-regulation (2) shall not

include contributions to resolution financing arrangements under

Directive 2014/59/EU, including available financial means to be

taken into account in order to reach the target level of the resolution

financing arrangements under Directive 2014/59/EU.

(5) The Scheme shall ensure that it has in place adequate

alternative funding arrangements to enable it to obtain short-term

funding to meet claims against the Scheme.

(6) The Scheme shall, by 31 March each year, inform the

European Banking Authority of the amount of covered deposits in

Malta and of the amount of the available financial means of the

Scheme on 31 December of the preceding year.

24. The Scheme may at any time require members to pay the

following contributions

(a)

Compensation Contribution;

(b)

Management Expenses Contribution.

25. (1) Subject to regulation 23 (2), the Scheme may require

members to pay a Compensation Contribution at least once in every

financial year, commencing from the financial year ending 31

December 2016. The Compensation Contribution shall be allocated to

the available financial means.

(2) If the available financial means of the Scheme are

insufficient to repay depositors when deposits become unavailable,

the Scheme shall require members to pay an extraordinary

Compensation Contribution not exceeding 0.5% of their covered

deposits per financial year. The Scheme may in exceptional

circumstances and with the consent of the competent authority require

higher contributions.

(3) The

Compensation

Contribution

(including

any

extraordinary Compensation Contribution) shall be based on the

amount of covered deposits (excluding temporary high balances) of

each member and the degree of risk incurred by the respective

member

Provided that a member may be required to pay a

minimum contribution under a Compensation Contribution

irrespective of the amount of its covered deposits or its degree of risk.

For the avoidance of doubt and saving the provisions of

these regulations, the annual compensation contributions shall be

determined by the Scheme for each member having regard to

(a)

the applicable percentage of the covered deposits of

its members as specified under regulation 23(2);

(b) the covered deposits of each member at the end of

the year immediately preceding the relevant financial year;

(c)

the degree of risk incurred by each member by

reference to an aggregate risk weight in terms of regulation

25(5) for the year immediately preceding the relevant financial

year; and

(d)

an adjustment coefficient in terms of regulation

25(6).

(4) Subject to the provisions of sub-regulation (3), the

competent authority shall by banking rules establish

(a)

a method (hereinafter referred to as the "risk-based

method") for determining the degree of risk incurred by

members;

(b) a method (hereinafter referred to as the

"Compensation Contribution method") for determining the

amount of Compensation Contribution due by each member in

each financial year

Provided that

(i) the competent authority may review or amend

any risk-based method or Compensation Contribution

method, account being taken where appropriate of any

guidelines which may be issued by the European Banking

Authority;

(ii) the competent authority shall inform the

European Banking Authority about the risk-based method.

(5) The competent authority shall determine at least once in

every financial year the Aggregate Risk Weight for each member

(ARWi) in accordance with the risk-based method for the purpose of

determining the compensation contribution in respect of the relevant

financial year.

(6) The competent authority shall determine at least once in

every financial year the Adjustment Coefficient (µ) for all members

with the aim of reaching the target level whenever the total risk-

adjusted contributions would be too high or too low for the purpose of

determining the compensation contribution in respect of the relevant

financial year.

(7) Every member shall provide to the competent authority the

information required for the determination of the Aggregate Risk

Weight of that member.

(8) Subject to the provisions of regulation 23(3), the Scheme

may provide that a portion of a Compensation Contribution be

provided to the Scheme by means of a payment commitment

Provided that by reference to the financial year shown in

the first column, the total portion of payment commitment shall not

exceed the percentage shown in the second column

Financial Year

Payment Commitments (maximum)

74.50%

69.00%

50%

47.00%

41.50%

36.00%

30.00%

(9) L-awtorità kompetenti tista’ toħroġ direttivi bankarji

sabiex tirrevedi u temenda id-data effettiva jew il-perċentwalii

indikati fis-subregolament (8).

(10) Kull impenn ta’ pagament għandu jsir pagabbli lill-Iskema

meta l-Iskema titlob li dan isir. L-impenn ta’ pagament ta’ xi membru

għandu jsir ukoll pagabbli lill-Iskema kull meta dak il-membru itemm

li jkollu liċenza f’Malta għal xi raġuni tkun xi tkun.

(11) Id-dettalji fuq it-tip ta’ assi li jistgħu jiġu aċċettati bħala

kollateral għall-Impenji ta’ Pagament u dwar il-modalitajiet użati

biex jiġu implimentati dawn l-Impenji ta’ Pagament jistgħu jiġu

speċifikati bir-regoli bankarji.

(12) Il-valur ta’ assi li jikkomprendu l-kollateral għall-Impenji

ta’ Pagament għandu jkun il-valur tas-suq ta’ dawk l-assi, stabbiliti

kif hemm f’dawk ir-regoli ta’ skont ("Valuation Haircuts") kif jiġi

stabbilit b’regoli bankarji.

(13) L-assi li jikkomprendu l-kollateral għall-Impenji ta’

Pagament għandhom jiġu denominati bl-Euro irrispettivament mill-

munita tad-depożiti koperti.

(14) Membru ma jistax jaqleb minn assi wieħed li jkun jinkludi

kollateral għall-Impenji ta’ Pagament għal xi assi ieħor, mingħajr il-

kunsens tal-Iskema mogħti bil-miktub u bil-quddiem.

(15) Jista’ membru, bl-approvazzjoni minn qabel tal-Iskema,

iħallas l-ammont ekwivalenti tal-Impenji ta’ Pagament direttament

mal-Iskema, u f’dak il-każ dak il-pagament għandu jkun minħabba

fir-responsabbiltà tal-membru taħt is-subregolament (8), u d-

disposizzjonijiet ta’ dan ir-regolament għandhom, meta jkun japplika,

ikunu japplikaw ukoll għal dak il-pagament. Ebda mgħax m’għandu

jitħallas mill-Iskema lill-membru fir-rigward ta’ dak il-pagament. L-

Iskema tista’, fid-diskrezzjoni assoluta tagħha, titlob lill-membru biex

jissostitwixxu dak bl-Impenji ta’ Pagament dovuti taħt dawn ir-

regolamenti.

26. (1) L-Iskema tista’ timponi kontribuzzjoni għal spejjeż

amministrattivi fuq il-membri matul is-sena finanzjarja jekk ikollha

raġunijiet sodi għaliex taħseb li l-fondi li jkollha disponibbli għal

spejjeż amministrattivi matul dik is-sena finanzjarja ma jkunux, jew

mhux se jkunu, biżżejjed.

(2) L-Iskema għandha talloka kull ammont miġbur mill-

kontribuzzjoni għal spejjeż amministrattivi għall-pagament ta’

spejjeż amministrattivi, u m’għandhiex tittratta lil dawk il-fondi

bħallikieku kienu mezzi finanzjarji disponibbli tal-Iskema.

(3) L-awtorità kompetenti għandha b’regoli bankarji

tistabbilixxi metodu (minn hawn issa ’il quddiem imsejjaħ il-"Metodu

ta’ Kontribuzzjoni għal Spejjeż Amministrattivi") sabiex tistabbilixxi

l-ammont ta’ Kontribuzzjoni ta’ Spejjeż għall-Amministrazzjoni

dovuti minn kull membru f’xi sena finanzjarja

Iżda l-Awtorità Kompetenti tista’ tirrevedi jew temenda

kull Metodu ta’ Kontribuzzjoni għal Spejjeż Amministrattivi.

(4) Minkejja kull disposizzjoni oħra f’dawn ir-regolamenti,

membru li jsir membru tal-Iskema matul is-sena finanzjarja, għandu

għas-sena finanzjarja li matulha jkun sar membru jħallas hemm

Kontribuzzjoni Inizjali għal Spejjeż Amministrattivi li tammonta għal

ħamsa u tletin elf euro (€35,000).

27. (1) L-Iskema għandha tistma mill-inqas darba f’kull Stima tal-

sena finanzjarja l-kontribuzzjoni għall-kumpens għal kull membru Kontribuzzjoni

għal Kumpens u

dwar is-sena finanzjarja rilevanti kif hemm fil-metodu ta’ Kontribuzzjoni

għall-Ispejjeż

kontribuzzjoni għall-kumpens.

Amministrattivi.

(2) L-Iskema għandha tavża lil kull membru dwar l-ammont

tal-kontribuzzjoni għall-kumpens tiegħu, il-fattur ta’ riskju stabbilit

fid-determinazzjoni ta’ dik il-kontribuzzjoni u l-ammont tal-

Kontribuzzjoni għal Spejjeż Amministrattivi fir-rigward ta’ kull sena

finanzjarja relevanti. L-obbligu tal-membru lejn l-Iskema fir-rigward

tal-kontribuzzjoni għall-kumpens tiegħu għal xi sena finanzjarja

rilevanti għandu jitqies li jibda jseħħ fid-data ta’ dak l-avviż.

(3) Membru li jħoss ruħu aggravat b’xi stima bħal dik jista’

jitlob lill-Iskema biex tqis dik l-istima mill-ġdid.

(4) Talba għal konsiderazzjoni mill-ġdid għandha ssir fi żmien

tletin jum minn notifika tal-istima u ma tistax issir flimkien mal-

appell.

(5) It-talba għal konsiderazzjoni mill-ġdid għandha tinkludi

dokument bil-miktub li jkun jiddikjara b’mod preċiż r-raġunijiet għal

dik it-talba, u l-mod li bih iqis li l-istima għandha tiġi emendata.

(6) Meta ssirilha talba għal konsiderazzjoni mill-ġdid, l-

Iskema tista’ teħtieġ lil xi membru li jkun qed jagħmel it-talba

iforniha b’dik l-informazzjoni li l-Iskema tista’ tqis li tkun meħtieġa.

(7) Fil-każ

li

l-Iskema

taderixxi

mat-talba

għal

konsiderazzjoni mill-ġdid jew inkella xort’oħra l-membru jaqbel mal-

Iskema dwar l-ammont tal-kontribuzzjoni jew ma’ xi fatturi ta’ riskju

rilevanti, l-istima għandha tiġi emendata kif ikun adatt, u għandhom

jiġu notifikati lil dak il-membru avviż tal-ammont tal-kontribuzzjoni

li għandha titħallas jew il-fatturi ta’ riskju stabbiliti.

(8) Jekk ma jintlaħaq ebda ftehim, l-Iskema għandha tistma l-

ammont tal-kontribuzzjoni li għandha titħallas u kull fattur rilevanti

ta’ riskju bil-miktub, u tagħti l-avviż tiegħu lill-membru

Iżda dejjem jibqa’ l-fatt li fil-każ ta’ xi membru li jkun

applika għall-konsiderazzjoni mill-ġdid, fin-nuqqas ta’ qbil mal-

Iskema fuq dik l-istima, id-dritt ta’ appell li jkollu kontra l-istima,

għandu jibqa’ mhux mittiefes.

(9) Membru jista’ ma jappellax kontra stima tal-kontribuzzjoni

jew xi fattur ta’ riskju rilevanti kemm-il darba ma jkunx qabel

eżawrixxa ewwel d-dritt tiegħu għall-konsiderazzjoni mill-ġdid ta’

dik l-istima.

(10) Jista’ jiġi ppreżentat appell kontra l-Iskema li jsir lit-

Tribunal għas-Servizzi Finanzjarji kif hemm fl-artikolu 10 tal-Att

dwar il-Kummerċ Bankarju, fi żmien tletin ġurnata minn meta jiġi

notifikat l-avviż lill-membru dwar l-avviż tal-istima msemmija fis-

subregolament (8). Dawk il-każijiet fejn l-appell ikun qiegħed

jikkontesta l-fattur ta’ riskju stabbilit fid-determinazzjoni tal-

kontribuzzjoni, l-appell għandu jiġi ppreżentat wkoll kontra l-

awtorità kompetenti. It-talba għal appell għandha tinkludi dokument

bil-miktub fejn jiġu dikjarati b’mod preċiż ir-raġunijiet għal dik it-

talba, u l-mod kif ikun jidhirlu li l-istima għandha tiġi emendata. It-

Tribunal għas-Servizzi Finanzjarji għandu jkollu is-setgħat kollha

mogħtija lilu bl-artikolu 21 tal-Att dwar l-Awtorità għas-Servizzi

Finanzjarji ta’ Malta.

(11) Ikun jista’ jsir appell fuq xi kwistjoni tal-liġi biss minn

deċiżjoni tat-Tribunal għas-Servizzi Finanzjarji quddiem il-Qorti tal-

Appell fil-ġurisdizzjoni superjuri tagħha. Appell jista’ jsir sa mhux

aktar tard minn għoxrin jum mid-data tad-deċiżjoni tat-Tribunal għas-

Servizzi Finanzjarji. Meta tkun qegħda tiddeċiedi dak l-appell, il-

Qorti tal-Appell għandha tkun magħmula kif hemm fl-artikolu 41(6)

tal-Kodiċi ta’ Organizzazzjoni u Proċedura Ċivili. Appell minn

deċiżjoni parzjali tat-Tribunal għas-Servizzi Finanzjarji jista’ jiġi biss

ippreżentat biss flimkien ma’ appell mid-deċiżjoni finali tat-Tribunal

għas-Servizzi Finanzjarji.

(12) Meta ma jkunx sar appell minn xi stima kif hemm

imsemmi fis-subregolament (1), jew meta dik l-istima tkun ġiet

miftiehma kif hemm fis-subregolament (7), jew meta dik l-istima

tkun ġiet appellata, fi żmien ħmistax-il ġurnata mid-data tad-deċiżjoni

tat-Tribunal għas-Servizzi Finanzjarji jew tal-Qorti tal-Appell tkun

saret res judicata, l-istima kif tinsab fl-avviż tal-Iskema jew kif

imnaqqsa jew miżjuda bid-deċiżjoni tat-Tribunal jew tal-Qorti tal-

Appell għandha tkun dovuta lill-Iskema.

(13) Malli ssir in-notifika ta’ kopja tal-avviż jew tad-deċiżjoni,

kif jista’ jkun il-każ, permezz ta’ att gudizzjarju fuq il-membri

indikati fl-avviż jew fid-deċiżjoni, dak l-avviż jew dik id-deċiżjoni

għandhom jikkostitwixxu titolu eżekuttiv għall-effetti u l-għanijiet

kollha tat-Titolu VII tat-Taqsima I tat-Tieni Ktieb tal-Kodiċi ta’ Kap. 12.

Organizzazzjoni u Proċedura Ċivili.

28. (1) Il-kalkolu ta’ kontribuzzjonijiet għandu jqis dawk il- Aġġustament

kontribuzzjonijiet li jkunu saru qabel, meta l-kontribuzzjonijiet tal-

Kontribuzzjoni

miġbura jkunu sew aktar sew inqas mill-ammont attwalment dovut u għall-Kumpens

kif hawn f’dawn ir-regolamenti.

Kontribuzzjoni

għal Spejjeż

Amministrattivi.

(2) L-Iskema tista’ taġġusta l-kalkolu tas-sehem ta’ membru

ta’ xi kontribuzzjoni biex tingħata konsiderazzjoni xierqa ta’ xi ħaġa

waħda jew ta’ kull ħaġa minn dawn li ġejjin

(a)

kull eċċess jew nuqqas, li ma jkunux diġà ttieħdu

f’konsiderazzjoni, bejn kontribuzzjonijiet li saru qabel tal-istess

tip kif stmati fir-rigward ta’ snin finanzjarji preċedenti u l-

kontribuzzjonijiet rilevanti attwalment dovuti f’dik is-sena

finanzjarja;

(b) ammonti li l-Iskema ma setgħetx tirkupra mill-

membri għal xi raġuni tkun li tkun;

(ċ)

pagamenti differiti taħt ir-regolament 30;

(d) kull ħaġa oħra li l-Iskema tassew taħseb li għal

raġunijiet raġonevoli għandhom jittieħdu f’konsiderazzjoni.

(3) L-Iskema tista tnaqqas, taħfer, jew tagħmel rifużjoni ta’ xi

kontribuzzjonijiet imħallsa żejjed minn xi membru fir-rigward ta’ xi

sena kalendarja partikolari, jew inkella taġġusta l-kalkolu tas-sehem

ta’ xi membru ta’ xi kontribuzzjoni, kull meta jkun hemm żball fid-

dritt jew ta’ xi fatt, sakemm dak it-tnaqqis, remissjoni, rifużjoni jew

aġġustament ikunu fir-rigward ta’ xi kontribuzzjoni li tkun prekritta

skont ir-regolament 29(9).

(4) Il-membru li jieqaf milli jkun membru tal-Iskema għal-

liema raġuni tkun m’għandu jkun intitolat għal ebda rifużjoni ta’

pagamenti lill-Iskema dwar il-kontribuzzjonijiet tiegħu.

29. (1)

Membru għandu jħallas lill-Iskema

Obbligu li

jitħallsu l-

Kontribuzzjoniji

(a)

il-Kontribuzzjoni għall-Kumpens tiegħu; u

et.

(b)

il-Kontribuzzjoni

għal

Spejjeż

Amministrattivi

tiegħu.

(2) Il-kontribuzzjoni ta’ membru tkun dovuta, u għandha

titħallas, fi żmien tletin jum mid-data tal-avviż ta’ stima kif hemm fir-

regolament 27(2).

(3) Meta membru jitlob għal konsiderazzjoni mill-ġdid jew

jippreżenta appell kontra stima tal-kontribuzzjoni jew xi fattur ta’

riskju rilevanti, dik it-talba jew appell m’għandhomx idewwmu l-

iskadenzi tal-pagament dikjarati fis-subregolament (2). Dak il-

membru jkollu jedd għal rifużjoni mill-Iskema ta’ kull ammont ta’

kontribuzzjoni mħallas b’eċċess tal-ammont li jkun miftiehem kif

hemm fir-regolament 27(7), jew meta dik l-istima tkun ġiet appellata,

tal-ammont li jiġi finalment deċiż li jkun dovut b’deċiżjoni tat-

Tribunal għas-Servizzi Finanzjarji jew tal-Qorti tal-Appell li tkun

saret res judicata.

(4) Jekk membru ma jibqax membru matul xi sena finanzjarja

tal-Iskema, dan jibqa’ responsabbli għall-pagament ta’ kull

kontribuzzjoni mhux imħallsa.

(5) Jekk membru ma jħallasx l-ammont totali tal-

kontribuzzjoni tiegħu, qabel tmiem id-data meta din tkun dovuta, dan

għandu jħallas ammont addizzjonali lill-Iskema kif ġej

(a)

jekk il-kontribuzzjonijiet ma tħallsux kollha kemm

huma qabel tmiem id-data dovuta, dritt amministrattiv ta’ ħames

mitt euro (€500); u

(b) mgħax fuq kull parti mhux imħallsa tal-

kontribuzzjoni bir-rata ta’ 12% fis-sena, li jakkumulaw kuljum

mid-data meta l-ammont involut sar dovut.

(6) Meta l-Iskema tiddeċiedi li tħarrek għall-irkupru ta’

kontribuzzjoni, dritt amministrattiv jew imgħax lilha dovuti minn xi

membru taħt dawn ir-regolamenti, iċ-Chairperson jew l-uffiċjal tal-

Iskema hekk kif awtorizzat mill-Iskema kif imiss biex jaġixxi

f’isimha jista’ jagħmel dikjarazzjoni bil-ġurament quddiem ir-

Reġistratur tal-Qorti jew quddiem kull uffiċjal ieħor awtorizzat li

jamministra l-ġurament fi kwistjonijiet ġudizzjarji, fejn jiddikjara ix-

xorta tad-dejn u l-isem tal-membru u jikkonferma li dan id-dejn ikun

dovut.

(7) Bla ħsara għad-dispożizzjonijiet tar-regolament 27(12), id-

dikjarazzjoni msemmija fis-subregolament (6) għandha tiġi notifikata

lill-membru permezz ta’ att gudizzjarju u għandu jkollha l-istess

effett bħal sentenza finali tal-qorti kompetenti kemm-il darba l-

membru, fi żmien għoxrin jum min-notifika li ssirlu ta’ dik id-

dikjarazzjoni, ma jopponix ruħu għat-talba billi jippreżenta rikors fejn

jiddikjara b’mod preċiż ir-raġunijiet għal dik l-oppożizzjoni u fejn

jitlob il-qorti tiddikjara t-talba infondata.

(8) Ir-rikors ippreżentat kif hemm fis-subregolament (7)

għandu jiġi notifikat lill-Iskema, li jkollha d-dritt li tippreżenta

risposta fi żmien għoxrin jum. Il-qorti għandha tqiegħed ir-rikors fuq

il-lista għas-smigħ f’data li tiġi wara l-iskadenza ta’ dak il-perjodu.

(9) Kull azzjoni li ssir mill-Iskema għall-pagament ta’ xi

kontribuzzjoni dovuta minn membru għandha taqa’ meta jgħaddi ż-

żmien ta’ preskrizzjoni ta’ sentejn mid-data meta l-kontribuzzjoni

kienet dovuta.

30. (1) L-awtorità kompetenti tista’ tipposponi, għalkollox Differiment tal-

jew biss f’parti, l-obbligu li membru jkollu li jħallas kontribuzzjoni Kontribuz-

zjonijiet.

jekk l-awtorità kompetenti tqis li dawk il-kontribuzzjonijiet

jipperikolaw l-likwidità jew is-solvenza tal-membru. Dak id-

differiment m’għandux jiġi konċess għal perjodu itwal minn sitt xhur

iżda jista’ jiġi mġedded fuq talba tal-membru.

(2) Kull kontribuzzjoni differita kif hemm fis-subregolament

(1) għandha titħallas meta l-pagament ma jibqax jipperikola l-

likwidità u s-solvenza tal-membru.

(3) Kull differiment bħal dak għandu jissospendi ż-żmien ta’

preskrizzjoni stabbilit fir-regolament 29(9).

31. (1) Jekk membru jkun legalment intitolat li jtemm milli Trasferiment ta’

jkun membru u jissieħeb ma’ DGS fi Stat Membru ieħor, l-Iskema kontribuzzjo-

nijiet.

għandha tittrasferixxi l-kontribuzzjonijiet għall-kumpens imħallas

minn dak il-membru matul it-tnax-il xahar li jiġu qabel tmiem is-

sħubija mad-DGS rilevanti.

(2) Jekk x’uħud mill-attivitajiet ta’ membru jiġu trasferiti lil xi

Stat Membru ieħor u jsiru soġġetti għal xi DGS fi Stat Membru ieħor,

il-kontribuzzjonijiet għall-kumpens imħallsa minn dak il-membru

matul it-tnax-il xahar li jiġu qabel it-trasferiment għandhom jiġu

trasferiti lid-DGS rilevanti fil-proporzjon tal-ammont ta’ depożiti

koperti trasferiti.

(3) Id-disposizzjonijiet

tas-subregolamenti

preċedenti

m’għandhomx japplikaw

(a)

jekk il-membru jkun ġie eskluż mill-Iskema kif

hemm fir-regolament 22(6); jew

(b) għal

Kontribuzzjonijiet

għal

Spejjeż

Amministrattivi; jew

(ċ)

għal Kontribuzzjonijiet għall-Kumpens straordinarji

kif hemm fir-regolament 25(2).

(4) Jekk membru jkollu l-ħsieb li jittrasferixxi x’uħud mill-

attivitajiet jew l-attivitajiet kollha tiegħu fi Stat Membru ieħor, dan

għandu jagħti mill-inqas sitt xhur avviż tal-intenzjoni tiegħu li

jagħmel dan lill-Iskema. Matul dak il-perjodu, il-membru għandu

jibqa’ taħt l-obbligu li jħallas il-Kontribuzzjonijiet għall-Iskema

kollha kif hawn f’dawn ir-regolamenti.

32. (1) L-Iskema tista’ tqiegħed il-mezzi finanzjarji tagħha

disponibbli f’mod ta’ riskju baxx u diversifikat biżżejjed.

(2) L-Iskema tista’ żżomm kull ammont miġbur minn

Kontribuzzjoniijiet għal Spejjeż Amministrattivi kif hemm fir-

regolament 26 u kull fondi oħra mmexxija u amministrati minnha

bħala depożitu jew tista’ tinvesti kontribuzzjonijiet bħal dawk, wara li

titqies il-ħtieġa għall-prudenza.

(3) Kull imgħax jew xi forma oħra ta’ dħul jew qligħ li

jinqala’ mill-Iskema fir-rigward tal-assi tagħha miżmuma kif hemm

fis-subregolamenti (1) u (2) għandhom jiġu allokati fir-riservi tal-

Iskema, inkluż il-"Fond Akkumulat" u r-"Riserva ta’ Rivalutazzjoni".

(4) Il-Kumitat ta’ Tmexxija jista’ f’kull żmien, u fid-

diskrezzjoni unika tiegħu, jalloka kull jew xi riserva tal-Iskema

miżmuma kif hemm fis-subregolament (3) lil xi waħda mill-klassijiet

ta’ fondi li jirrappreżentaw l-mezzi finanzjarji disponibbli tal-Iskema

jew il-Kontribuzzjoniijiet għal Spejjeż Amministrattivi.

33. (1) Il-mezzi

finanzjarji

disponibbli

għandhom

primarjament jintużaw biex jitħallsu lura d-depożitanti kif hawn

f’dawn ir-regolamenti.

(2) Il-mezzi finanzjarji disponibbli tal-Iskema għandhom

jintużaw sabiex jiffinanzjaw ir-riżoluzzjoni tal-membri kif hemm fid-

Direttiva 2014/59/UE. Il-Kumitat ta’ Riżoluzzjoni għandu jiddeċiedi,

wara li jikkonsulta l-Iskema, dwar l-ammont li bih l-Iskema tkun

responsabbli.

(3) L-Iskema, wara konsultazzjoni mal-awtorità kompetenti,

tista’ tuża l-mezzi finanzjarji disponibbli għal miżuri alternattivi li

jkunu jipprevjenu l-inadempjenza ta’ membru sakemm jitħarsu dawn

il-kondizzjonijiet li ġejjin

(a)

il-Kumitat ta’ Riżoluzzjoni ma jkun ħa ebda azzjoni

ta’ riżoluzzjoni taħt id-Direttiva 2014/59/UE;

(b) l-Iskema jkollha sistemi u proċeduri adatti effettivi

għall-għażla u l-implimentazzjoni ta’ miżuri alternattivi u l-

monitoraġġ ta’ riskji affiljati;

(ċ)

l-ispejjeż tal-miżuri ma jkunux jeċċedu l-ispejjeż

tat-twettiq tal-mandat statutorju jew kuntrattwali tal-Iskema;

(d) l-użu ta’ miżuri alternattivi mill-Iskema hu marbut

ma’ kondizzjonijiet imposti fuq il-membru li jkun qed jiġi

appoġġat, li jinvolvu monitoraġġ ta’ riskji għall-inqas aktar

strett u drittijiet akbar ta’ verifika għall-Iskema;

(e)

l-użu ta’ miżuri alternattivi mill-Iskema jkun marbut

mal-impenji tal-membru li jkun qed jiġi appoġġat bil-għan li jiġi

żgurat li l-aċċess għal depożiti koperti;

(f)

l-abbiltà tal-membri li jħallsu l-kontribuzzjonijiet

straordinarji kif hemm fis-subregolament (5) tinsab konfermata

fl-istima tal-awtorità kompetenti.

L-Iskema

għandha

tikkonsulta

lill-Kumitat

ta’

Riżoluzzjoni u lill-awtorità kompetenti dwar il-miżuri u l-

kondizzjonijiet imposti fuq il-membru.

(4) Il-miżuri alternattivi msemmija fis-subregolament (3)

m’għandhomx jiġu applikati meta l-awtorità kompetenti, wara li

tikkonsulta lill-Kumitat ta’ Riżoluzzjoni, tikkunsidra l-kondizzjonijiet

għall-azzjoni ta’ riżoluzzjoni taħt id-Direttiva 2014/59/UE li

għandhom jitħarsu.

(5) Jekk il-mezzi finanzjarji disponibbli jiġu użati kif hemm

fis-subregolament (3), il-membri għandhom minnufih jipprovdu l-

Iskema bil-mezzi użati għal miżuri alternattivi, fejn ikun meħtieġ fil-

forma ta’ kontribuzzjonijiet straordinarji, meta

(a)

ikun hemm il-ħtieġa għal xi ħlas lura lid-depożitanti

u l-mezzi finanzjarji disponibbli tal-Iskema jkunu jammontaw

għal inqas minn żewġ terzi tal-livell ta’ mira;

(b) il-mezzi finanzjarji disponibbli jaqgħu taħt il-25%

tal-livell ta’ mira

Iżda sakemm jintlaħaq il-livell ta’ mira għall-ewwel darba,

il-livelli msemmija hawn qabel għandhom ikunu japplikaw fir-

rigward tal-mezzi finanzjarji disponibbli.

(6) L-Iskema, f’konsultazzjoni mal-awtorità kompetenti, tista’

tiddeċiedi li l-mezzi finanzjarji disponibbli jistgħu jintużaw ukoll

biex jiffinanzjaw miżuri li jippreservaw l-aċċess tad-depożitanti għal

depożiti koperti, inkluż it-trasferiment ta’ kull attiv u passiv u t-

trasferiment bi ktieb ta’ depożitu, fil-kuntest ta’ proċedimenti ta’

falliment, sakemm l-ispejjeż mħallsa mill-Iskema ma jeċċedux l-

ammont nett ta’ kumpens għal depożitanti koperti fil-membru

involut.

TAQSIMA VI

Supplementari

34. (1) L-Iskema tista’, b’konsultazzjoni mal-awtorità

kompetenti, tislef lil kull SGD oħra fi ħdan l-Unjoni Ewropea fuq

bażi volontarja, sakemm tiżgura li jitħarsu dawn il-kondizzjonijiet li

ġejjin

(a)

id-DGS li jkun qed jissellef ma jkunx jista’ jwettaq

l-obbligi tiegħu taħt l-Artikolu 9(1) tad-Direttiva minħabba

f’nuqqas ta’ mezzi finanzjarji disponibbli;

(b) id-DGS li jkun qed jissellef ikun irrikorra għall-

kontribuzzjonijiet straordinarji msemmija fl-Artikolu 10(8) tad-

Direttiva;

(ċ)

id-DGS li jkun qed jissellef jintrabat bl-impenn

legali li l-fondi mislufa jkunu se jintużaw biex jitħallsu t-talbiet

taħt l-Artikolu 12 tad-Direttiva;

(d) id-DGS li jkun qed jissellef ma jkun fil-mument

soġġett għal ebda obbligu li jħallas lura is-self lil SGD oħrajn

taħt dan ir-regolament;

(e)

id-DGS li jkun qed jissellef jiddikjara l-ammont ta’

flus mitlub;

(f)

l-ammont totali misluf ma jeċċedix 0.5% mid-

depożiti koperti tad-DGS li jkun qed jissellef;

(g) id-DGS li jkun qed jissellef jinforma lill-Awtorità

Bankarja Ewropea mingħajr dewmien u jiddikjara r-raġunijiet

għaliex il-kondizzjonijiet stabbiliti f’dan is-subregolament

ikunu qegħdin jitħarsu u l-ammont ta’ flus mitlub.

(2) L-Iskema għandha tiżgura li s-self ikun soġġett għal dawn

il-kondizzjonijiet li ġejjin

(a)

id-DGS li jkun qed jissellef għandu jħallas lura s-

self fi żmien ħames snin. Dan jista’ jħallas lura s-self f’rati ta’

pagamenti annwali. Ikun biss dovut imgħax meta jkun qed isir

il-ħlas lura;

(b) ir-rata ta’ mgħax imposta għandha tkun mill-inqas

ekwivalenti għar-rata ta’ faċilità ta’ self marġinali tal-Bank

Ċentrali Ewropew matul il-perjodu ta’ kreditu;

(ċ)

l-Iskema għandha tinforma lill-Awtorità Bankarja

Ewropea bir-rata ta’ mgħax inizjali u biż-żmien kemm itul is-

self.

(3) L-Iskema għandha tiżgura li l-kontribuzzjonijiet kollha

miġbura mid-DGS li jkun qed jissellef huma biżżejjed biex tirrifondi

l-ammont imsellef u biex terġa’ tistabbilixxi l-livell ta’ mira kemm

jista’ jkun malajr.

35. (1) Meta membru jistabbilixxi fergħa fi Stat Membru Koperazzjoni

ieħor, l-Iskema għandha tkopri lid-depożitanti f’dik il-fergħa. Id-DGS bejn

Membri.

tal-Istat Membru ospitanti għandu jħallas lura lid-depożitanti ta’ dik

il-fergħa għan-nom tal-Iskema kif hemm fl-istruzzjonijiet tal-Iskema.

Id-DGS tal-Istat Membru ospitanti ma għandu jerfa’ ebda

responsabbiltà dwar atti magħmula kif hemm fl-istruzzjonijiet

mogħtija mill-Iskema. L-Iskema għandha tipprovdi l-fondi meħtieġa

qabel ma tħallas u għandha tikkumpensa lid-DGS tal-Istat Membru

ospitanti għall-ispejjeż li jkunu ntefqu.

(2) Id-depożitanti f’fergħa li tkun qed topera f’Malta mwaqqfa

minn istituzzjoni ta’ kreditu stabbilita fi Stat Membru ieħor

għandhom jitħalsu lura mill-Iskema f’isem id-DGS fl-Istat Membru

domiċiljari. L-Iskema għandha tibda tagħmel il-pagamenti lura kif

hemm fl-istruzzjonijiet tad-DGS tal-Istat Membru domiċiljari. L-

Iskema m’għandha terfa’ ebda responsabbiltà dwar atti magħmula

skont l-istruzzjonijiet mogħtija mid-DGS tal-Istat Membru

domiċiljari. Id-DGS tal-Istat Membru domiċiljari għandu jipprovdi l-

finanzjament meħtieġ qabel jibda għaddej bil-pagamenti u għandu

jikkumpensa l-Iskema għall-ispejjeż li jkunu jintefqu.

(3) L-Iskema għandha tiskambja l-informazzjoni msemmija

taħt l-Artikolu 4(7), (8) u (10) tad-Direttiva mal-SGD fl-Istati

Membri li jospitaw. Ir-restrizzjonijiet stabbiliti fl-Artikolu 4 tad-

Direttiva għandhom japplikaw għal dawn l-iskambji ta’

informazzjoni.

(4) Sabiex tiġi faċilitata l-koperazzjoni effettiva bejn l-Iskema

u l-SGD fi Stati Membri oħrajn, b’mod partikolari għal dan ir-

regolament u għar-regolament 34, l-Iskema u l-SGD fi Stati Membri

oħrajn għandu jkollhom pattijiet miktubin dwar il-koperazzjoni li

jkunu effettivi. Dawk il-pattijiet għandhom jieħdu f’konsiderazzjoni

l-ħtiġiet stabbiliti fl-Artikolu 4(9) tad-Direttiva.

(5) L-Iskema għandha tavża lill-Awtorità Bankarja Ewropea

bl-eżistenza u l-kontenut ta’ dawk il-pattijiet. Jekk l-Iskema ma tkunx

tista’ tilħaq ftehim ma’ DGS fi Stat Membru jew jekk ikun hemm xi

tilwima dwar l-interpretazzjoni ta’ xi patt, l-Iskema tista’ tirreferi l-

kwistjoni lill-Awtorità Bankarja Ewropea kif hemm fl-Artikolu 19

tar-Regolament (UE) 1093/2010. Meta ma jkunx hemm pattijiet bħal

dawk, dan m’għandux jaffettwa t-talbiet li d-depożitanti jagħmlu taħt

ir-regolament 18(1) jew dawk tal-istituzzjonijiet ta’ kreditu taħt ir-

regolament 31(1).

(6) L-Iskema għandha tiżgura li ikun hemm japplikaw

proċeduri adatti biex l-Iskema tkun tista’ taqsam l-informazzjoni u

tikkomunika b’mod effettiv ma’ SGD oħrajn, mal-istituzzjonijiet ta’

kreditu affiljati tagħhom u mal-awtoritajiet kompetenti u maħtura

rilevanti fi ħdan il-ġurisdizzjonijiet tagħhom stess u ma’ aġenziji

oħrajn fuq bażi transkonfini, meta dan ikun adatt.

(7) L-Iskema tista’ tikkopera ma’ SGD oħrajn li joperaw fl-

Unjoni Ewropea permezz ta’ skema Ewropea li tista’ titwaqqaf mill-

Parlament Ewropew u mill-Kunsill biex jiġi evitat li jkun hemm r-

riskji li jinħolqu minn attivitajiet transkonfini u biex tipproteġi d-

depożiti minn dawk ir-riskji.

36. (1) Bil-għan li l-Iskema u l-awtorità kompetenti jkunu

jistgħu jwettqu l-funzjonijiet u dmirijiet rispettivi tagħhom, l-Iskema

u l-awtorità kompetenti jistgħu jaqsmu u jiskambjaw informazzjoni u

riżorsi, u għandhom mod ieħor jikkonsultaw u jikkollaboraw ma’

xulxin. Id-dmirijiet tal-kunfidenzjalità għandhom japplikaw għal kull

komunikazzjoni bħal dik.

(2) L-awtorità kompetenti għandha tinforma lill-Iskema kemm

jista’ jkun malajr jekk jiġri li l-awtorità kompetenti ssib problemi f’xi

membru li x’aktarx jagħtu lok għal intervent mill-Iskema.

37. (1) L-Iskema għandha tivverifika jekk fergħa stabbilita

f’Malta minn istituzzjoni ta’ kreditu li jkollha l-uffiċċju prinċipali

tagħha barra l-Unjoni Ewropea jkollhiex protezzjoni ekwivalenti għal

dik preskritta f’dawn ir-regolamenti u, b’mod partikolari, għandha

tivverifika li d-depożitanti ta’ dik il-fergħa jibbenefikaw mill-istess

livell ta’ kopertura u ta’ skop ta’ protezzjoni kif previst f’dawn ir-

regolamenti.

(2) Kull fergħa stabbilita f’Malta minn istituzzjoni ta’ kreditu

li jkollha l-uffiċċju prinċipali tagħha barra l-Unjoni Ewropea u li ma

tkunx membru tal-Iskema għandha tipprovdi lil depożitanti attwali

jew li bi ħsiebhom ikunu hekk ta’ dik il-fergħa kull informazzjoni

rilevanti li tirrigwarda l-eżistenza jew xort’oħra tal-arranġamenti ta’

garanzija għal depożiti miżmuma f’dik il-fergħa.

(3) L-informazzjoni msemmija fis-subregolament (2) għandha

tkun magħmula disponibbli fil-lingwa miftiehma bejn id-depożitant u

l-istituzzjoni ta’ kreditu meta nfetaħ il-kont jew f’lingwa uffiċjali ta’

Malta u għandha tkun ċara u waħda li tiftiehem sew.

38. Avviż jew dokument ieħor li għandu jingħata, jkun provdut Mod ta’

jew notifikat taħt dawn ir-Regolamenti għandu jitqies li jkun ingħata notifika.

jew ġie notifikat lil persuna kif dovut jekk jiġu mħarsa l-ħtiġiet tal-

artikolu 187(1) u (4) tal-Kodiċi ta’ Organizzazzjoni u Proċedura Kap. 12.

Ċivili

Iżda avviż jew dokument ieħor jistgħu fil-każijiet kollha

jiġu notifikati permezz ta’ att gudizzjarju, u f’dak il-każ għandhom

japplikaw id-dispożizzjonijiet rilevanti tal-Kodiċi ta’ Organizzazzjoni Kap. 12.

u Proċedura Ċivili.

39. L-Iskema għandha tikkomunika u tikkorrispondi mad- Lingwa.

depożitant f’xi waħda mil-lingwi uffiċjali ta’ Malta jew b’kull lingwa

oħra uffiċjali tal-Unjoni Ewropea li tintuża mill-istituzzjoni ta’

kreditu li jkollha f’idejha l-depożitu eliġibbli.

40. (1) L-Iskema u l-uffiċjali jew l-aġenti tagħha għandhom Kunfidenzjalità.

ikunu soġġetti għad-dispożizzjonijiet tal-Att dwar Segretezza Kap. 377.

Professjonali u għandhom jibqgħu jżommu bħala kunfidenzjali kull

informazzjoni miksuba minnhom matul iż-żmien li jaqdu

dmirijiethom taħt dawn ir-regolamenti, u m’għandhom jiżvelaw ebda

informazzjoni lil xi persuna, istituzzjoni ta’ kreditu, assoċjazzjoni jew

entità ħlief hekk kif jistgħu jitħallew jagħmlu b’dawn ir-regolamenti

jew b’xi liġi oħra jew ordni tal-Qorti.

(2) L-obbligu tal-kunfidenzalità m’għandux jinkiser fil-każ

(a)

tal-iskambju ta’ informazzjoni bejn l-Iskema, l-

awtorità kompetenti u l-SGD u, jew l-awtoritajiet kompetenti fi

Stati Membri oħra, sakemm l-informazzjoni rilevanti tkun

meħtieġa għall-qadi ta’ dmirijiethom taħt dawn ir-regolamenti;

u

(b) ta’ kull użu jew żvelar li jistgħu jkunu meħtieġa biex

l-Iskema u l-uffiċjali jew aġenti tagħha jitħallew jagħmlu

dmirijiethom u jwettqu l-funzjonijiet tagħhom taħt dawn ir-

regolamenti.

41. (1)

Mingħajr preġudizzju għal kull disposizzjoni oħra Penali

amministrattiva.

ta’ dawn ir-regolamenti, istituzzjoni ta’ kreditu jew kull direttur jew

uffiċjal tagħha, li ma jikkonformawx ruħhom mat-talba tal-Iskema

għal informazzjoni matul il-perjodu ta’ żmien stabbilit mill-Iskema

kif hawn f’dawn ir-regolamenti, jew li xjentement jew bi traskuraġni

iforni l-informazzjoni, jew jagħmel dikjarazzjoni li tkun mhux

korretta, falza jew qarrieqa f’xi dettal materjali, għandhom, għal kull

nuqqas bħal dak, ikunu responsabbli għall-penali amministrattiva ta’

mhux iżjed minn mija u ħamsa u għoxrin elf euro (€125,000) kif tista’

tiġi imposta mill-awtorità kompetenti b’avviż bil-miktub u mingħajr

il-ħtieġa ta’ smigħ fil-Qorti.

(2) Meta tkun ġiet imposta penali amministrattiva mill-

awtorità kompetenti kif hawn f’dan ir-regolament, jista’ jsir appell

quddiem it-Tribunal għas-Servizzi Finanzjarji kif hemm fl-artikoli 10

u 35A tal-Att dwar il-Kummerċ Bankarju.

42. (1) L-awtorità kompetenti tista’ toħroġ regoli bankarji

lil istituzzjonijiet ta’ kreditu għall-għanijiet ta’ dawn ir-regolamenti.

(2) Dawk ir-regoli bankarji jistgħu jkun fihom dawk id-

disposizzjonijiet inċidentali, supplimentari u konsegwenzjali kif

jidhru lill-awtorità kompetenti li jkunu spedjenti għall-fini ta’ dawn

ir-regolamenti.

43. L-Iskema u l-uffiċjali jew aġenti tal-Iskema ma jkunux

responsabbli għal danni dwar kull ħaġa li ssir jew tonqos milli ssir fil-

qadi tal-funzjonijiet taħt dawn ir-regolamenti kemm-il darba ma

jintweriex li l-att jew ommissjoni kienu in mala fede.

44. (1) Ir-Regolamenti tal-2003 dwar Skema ta’ Kumpens

lid-Depożitant (hawn aktar ’il quddiem imsejħa "ir-regolamenti

revokati") għandhom, b’effett mid-data tad-dħul fis-seħħ ta’ dawn ir-

2003. regolamenti, jiġu revokati u kull referenza f’kull liġi, regolament jew

disposizzjoni amministrattiva għar-regolamenti revokati għandha

għall-finijiet u effetti kollha tiftiehem bħala referenza għal dawn ir-

regolamenti.

(2) Kull ħatra, deċiżjoni, kontribuzzjoni, talba, pagament jew

att ieħor magħmul jew meħud taħt ir-regolamenti revokati, qabel il-

bidu fis-seħħ ta’ dawn ir-regolamenti għandhom jibqgħu fis-seħħ u

għandhom jitqiesu li jkunu saru jew ittieħdu taħt dawn ir-regolamenti.

(3) Kull attiv u passiv li kienu jvestu fl-Iskema qabel d-dħul

fis-seħħ ta’ dawn ir-regolamenti għandhom jappartjenu lill-Iskema

bis-saħħa ta’ dawn ir-regolamenti. Mad-dħul fis-seħħ ta’ dawn ir-

regolamenti, kull bilanċ miżmum fil-"Fond ta’ Kontribuzzjoni" tal-

Iskema u fil-"Fond ta’ Kontribuzzjoni Speċjali" għandhom jiġu

allokati għall-mezzi finanzjarji disponibbli tal-Iskema, u biex jiġi

stabbilit l-ammont ta’ kontribuzzjoni għal kumpens dovuta minn xi

membru, għandu jittieħed kont tal-kontribuzzjonijiet preċedenti ta’

dak il-membru fil-"Fond ta’ Kontribuzzjoni" u fil-"Fond ta’

Kontribuzzjoni Speċjali".

(4) L-Iskema għandha teħtieġ il-membri kollha tagħha li

jinfurmaw lid-depożitanti tagħhom dwar l-depożiti jew kategoriji ta’

depożiti jew strumenti oħra li ma kienux se jibqgħu jiġu koperti bl-

Iskema mit-3 ta’ Lulju 2015.

(5) Kull referenza f’xi liġi, regolament jew dispożizzjoni

amministrattiva għad-Direttiva 94/19/KE kif emendata għandha,

għall-finijiet u effetti kollha, tiftiehem bħala riferenza għad-Direttiva

2014/49/UE.

50%

58.00%

52.50%

47.00%

41.50%

36.00%

30.00%

(9) The competent authority may issue banking rules in order

to review and amend the effective date or percentages indicated in

sub-regulation (8).

(10) Any payment commitment shall become payable to the

Scheme on the Scheme’s demand. The payment commitment of a

member shall also become payable to the Scheme whenever that

member ceases to be licensed in Malta for any reason whatsoever.

(11) Details on the type of assets which may be accepted as

collateral for Payment Commitments and on the modalities used to

implement such Payment Commitments may be specified by banking

rules.

(12) The value of assets comprising collateral for the Payment

Commitments shall be the market value of such assets, determined in

accordance with such discounting rules ("Valuation Haircuts") as

shall be established by banking rules.

(13) The assets comprising collateral for the Payment

Commitments shall be denominated in euro irrespective of the

currency of the covered deposits.

(14) A member may not switch from one asset comprising

collateral for the Payment Commitments to another asset, without the

prior written consent of the Scheme.

(15) A member may, with the prior approval of the Scheme, pay

the equivalent amount of the Payment Commitments directly with the

Scheme, in which case such payment shall be on account of the

member’s liability under sub-regulation (8), and the provisions of this

regulation shall, where applicable, also be applicable to such

payment. No interest shall be payable by the Scheme to the member

in respect of such payment. The Scheme may, in its absolute

discretion, request the member to substitute such payment with the

Payment Commitments due under these regulations.

26. (1) The Scheme may impose a Management Expenses Management

Contribution on members in any financial year if it has reasonable Expenses

Contribution.

grounds to believe that the funds available to it to meet management

expenses in that financial year are, or will be, insufficient.

(2) The Scheme shall apply any amount collected from a

Management Expenses Contribution to the payment of management

expenses, and shall not treat such funds as available financial means

of the Scheme.

(3) The competent authority shall by banking rules establish a

method (hereinafter referred to as the "Management Expenses

Contribution method") for determining the amount of Managements

Expenses Contribution due by each member in any financial year

Provided that the competent authority may review or

amend any Management Expenses Contribution method.

(4) Notwithstanding any other provision in these Regulations,

a member which becomes a member of the Scheme part way through

the financial year, shall for the financial year in which it has become a

member pay an Initial Management Expenses Contribution

amounting to thirty-five thousand euro (€35,000).

27. (1) The Scheme shall assess at least once in every

financial year the Compensation Contribution for each member in

respect of the relevant financial year in accordance with the

Compensation Contribution method.

(2) The Scheme shall give notice to each member about the

amount of its Compensation Contribution, the risk factor established

in the determination of that contribution and the amount of its

Management Expenses Contribution in respect of any relevant

financial year. The obligation of the member towards the Scheme in

respect of its Compensation Contribution for any relevant financial

year shall be deemed to arise on the date of such notice.

(3) A member which is aggrieved by any such assessment may

request the Scheme to reconsider such assessment.

(4) A request for reconsideration shall be made within thirty

days from notification of the assessment and may not be made

concurrently with an appeal.

(5) The request for reconsideration shall include a written

document stating precisely the reasons for such a request, and the

manner in which it considers that the assessment should be amended.

(6) On receipt of a request for reconsideration, the Scheme

may require the member making the request to furnish such

information as the Scheme may deem necessary.

(7) In the event that the Scheme accedes to the request for

reconsideration or otherwise the member agrees with the Scheme as

to the amount of the contribution or any relevant risk factors, the

assessment shall be amended accordingly, and notice of the amount of

contribution payable or the risk factors established shall be notified

upon such member.

(8) If no agreement is reached, the Scheme shall assess the

amount of the contribution payable and any relevant risk factors in

writing, and give notice thereof to the member

Provided always that in the event of any member who has

applied for a reconsideration, failing to agree with the Scheme on

such assessment, its right of appeal against the assessment, shall

remain unimpaired.

(9) A member may not appeal against an assessment of the

contribution or any relevant risk factors unless it has first exhausted

its right to a reconsideration of such assessment.

(10) An appeal shall be filed against the Scheme and made to

the Financial Services Tribunal in accordance with article 10 of the

Banking Act, within thirty days of service of the notice to the member Cap. 371.

of the notice of the assessment referred to in sub-regulation (8). In

those instances where the appeal is contesting the risk factor

established in the determination of the contribution, the appeal shall

also be filed against the competent authority. The request for an

appeal shall include a written document stating precisely the reasons

for such a request, and the manner in which it considers that the

assessment should be amended. The Financial Services Tribunal shall

have all the powers conferred upon it by article 21 of the Malta Cap. 330.

Financial Services Authority Act.

(11) An appeal on a question of law only from a decision of the

Financial Services Tribunal shall lie to the Court of Appeal in its

superior jurisdiction. An appeal shall be made by not later than

twenty days from the date of the decision of the Financial Services

Tribunal. In the determination of such an appeal, the Court of Appeal

shall be constituted in terms of article 41(6) of the Code of Cap. 12.

Organisation and Civil Procedure. An appeal from a partial decision

of the Financial Services Tribunal may only be filed together with an

appeal from the final decision of the Financial Services Tribunal.

(12) Where an assessment as referred to in sub-regulation (1)

has not been appealed, or where such assessment has been agreed in

accordance with sub-regulation (7), or where such assessment has

been appealed, within fifteen days of the date when the decision of

the Financial Services Tribunal or the Court of Appeal has become a

res judicata, the assessment as contained in the notice of the Scheme

or as reduced or increased by the decision of the Tribunal or the Court

of Appeal shall be due to the Scheme.

(13) Upon the service of a copy of the notice or of the decision,

as the case may be, by means of a judicial act on the member

indicated in the notice or decision, the said notice or decision shall

constitute an executive title for all effects and purposes of Title VII of

Part I of Book Second of the Code of Organization and Civil Cap. 12.

Procedure.

28. (1) The calculation of contributions shall take into Adjustment of

account previous contributions, where contributions raised prove Compensation

Contribution

either more or less than the amount actually due in accordance with and

Management

these regulations.

Expenses

Contribution.

(2) The Scheme may adjust the calculation of a member’s

share of any contribution to take proper account of any or all of the

following

(a)

any excess or shortfall, not already taken into

account, between previous contributions of the same type

assessed in relation to previous financial years and the relevant

contributions actually due in that financial year;

(b) amounts that the Scheme has not been able to

recover from members for any reason whatsoever;

(c)

payments deferred under regulation 30;

(d) anything else that the Scheme believes

on

reasonable grounds should be taken into account.

(3) The Scheme may reduce, remit, or refund any overpaid

contributions paid by a member in respect of any particular calendar

year, or adjust the calculation of a member’s share of any

contribution, wherever there is a mistake of law or of fact, unless the

reduction, remit, refund or adjustment is in respect of a contribution

which is prescribed in accordance with regulation 29(9).

(4) A member who ceases to be a member of the Scheme for

whichever reason shall not be entitled for any refund of payments to

the Scheme in respect of its contributions.

29. (1)

A member shall pay to the Scheme its

(a)

Compensation Contribution; and

(b)

Management Expenses Contribution.

(2) A member’s contribution shall be due on, and payable

within, thirty days of the date of the notice of an assessment pursuant

to regulation 27(2).

(3) Where a member requests a reconsideration or files an

appeal against an assessment of the contribution or any relevant risk

factor, such request or appeal shall not delay the payment deadlines

set out in sub-regulation (2). Such member shall be entitled to a

refund from the Scheme of any amount of contribution paid in excess

of the amount which is agreed in accordance with regulation 27(7), or

where such assessment has been appealed, of the amount which is

finally determined as due by a decision of the Financial Services

Tribunal or the Court of Appeal which has become a res judicata.

(4) If a member ceases to be a member part way through a

financial year of the scheme, it will remain liable for any unpaid

contributions.

(5) If a member does not pay the total amount of its

contribution, before the end of the date on which it is due, it shall pay

an additional amount to the Scheme as follows

(a)

if the contributions was not paid in full before the

end of the due date, an administrative fee of five hundred euro

(€500); and

(b) interest on any unpaid part of the contribution at the

rate of 12% per annum, accruing on a daily basis from the date

on which the amount concerned became due.

(6) Where the Scheme decides to sue for the recovery of a

contribution, administrative fee or interest due to it by a member

under these regulations, the Chairperson or an officer of the Scheme

duly authorised by the Scheme to act on its behalf may make a

declaration on oath before the Court Registrar or before any other

officer authorised to administer the oath in judicial matters, wherein

he states the nature of the debt and the name of the member and

confirm that it is due.

(7) Saving the provisions of regulation 27(12), the declaration

referred to in sub-regulation (6) shall be served upon the member by

means of a judicial act and it shall have the same effect as a final

judgement of the competent court unless the member shall, within a

period of twenty days from service upon him of the said declaration,

oppose the claim by filing an application stating precisely the reasons

for such opposition and demanding that the court declare the claim

unfounded.

(8) The application filed in terms of sub-regulation (7) shall be

served upon the Scheme, which shall be entitled to file a reply within

a period of twenty days. The court shall appoint the application for

hearing on a date after the lapse of that period.

(9) Any action by the Scheme for the payment of any

contribution due by a member shall be barred by the lapse of a period

of prescription of two years from the date on which the contribution

was due.

30. (1) The competent authority may defer, in whole or in Deferral of

part, a member’s obligation to pay a contribution if the competent Contributions.

authority considers that such contributions would jeopardise the

liquidity or solvency of the member. Such deferral shall not be

granted for a longer period than six months but may be renewed upon

request of the member.

(2) Any contributions deferred pursuant to sub-regulation (1)

shall be paid when the payment no longer jeopardises the liquidity

and solvency of the member.

(3) Any such deferral shall suspend the period of prescription

set out in regulation 29(9).

31. (1) If a member is lawfully entitled to cease to be a

member and joins a DGS in another Member State, the Scheme shall

transfer the Compensation Contributions paid by that member during

the twelve months preceding the end of the membership to the

relevant DGS.

(2) If some of the activities of a member are transferred to

another Member State and become subject to a DGS in another

Member State, the Compensation Contributions paid by that member

during the twelve months preceding the transfer shall be transferred

to the relevant DGS in proportion to the amount of covered deposits

transferred.

(3) The provisions of the preceding sub-regulations shall not

apply

(a)

if the member has been excluded from the Scheme

pursuant to regulation 22(6); or

(b)

to Management Expenses Contributions; or

(c)

to extraordinary

Compensation

Contributions

pursuant to regulation 25(2).

(4) If a member intends to transfer some or all of its activities

to another Member State, it shall give at least six months’ notice of its

intention to do so to the Scheme. During that period, the member

shall remain under the obligation to pay all contributions to the

Scheme pursuant to these regulations.

32. (1) The Scheme may place its available financial means

in a low-risk and sufficiently diversified manner.

(2) The Scheme may hold any amounts collected from

Management Expenses Contributions pursuant to regulation 26 and

any other funds managed and administered by it on deposit or may

invest such contributions, having regard to the need for prudence.

(3) Interest or any other form of income or gain earned by the

Scheme in respect of its assets held pursuant to sub-regulations (1)

and (2) shall be allocated to the Scheme’s reserves, including the

"Accumulated Fund" and the "Revaluation Reserve".

(4) The Management Committee may at any time, and at its

sole discretion, allocate any of the Scheme’s reserves held pursuant to

sub-regulation (3) to either of the class of funds representing the

Scheme’s available financial means or the Management Expenses

contributions.

33. (1) The available financial means shall be primarily Use of available

financial means.

used in order to repay depositors pursuant to these regulations.

(2) The available financial means of the Scheme shall be used

in order to finance the resolution of members in accordance with

Directive 2014/59/EU. The Resolution Committee shall determine,

after consulting the Scheme, the amount by which the Scheme is

liable.

(3) The Scheme, in consultation with the competent authority,

may use the available financial means for alternative measures in

order to prevent the failure of a member provided that the following

conditions are met

(a)

the Resolution Committee has not taken any

resolution action under Directive 2014/59/EU;

(b) the Scheme has appropriate systems and procedures

in place for selecting and implementing alternative measures

and monitoring affiliated risks;

(c)

the costs of the measures do not exceed the costs of

fulfilling the statutory or contractual mandate of the Scheme;

(d) the use of alternative measures by the Scheme is

linked to conditions imposed on the member that is being

supported, involving at least more stringent risk monitoring and

greater verification rights for the Scheme;

(e)

the use of alternative measures by the Scheme is

linked to commitments by the member being supported with a

view to securing access to covered deposits;

(f)

the ability of the members to pay the extraordinary

contributions in accordance with sub-regulation (5) is

confirmed in the assessment of the competent authority.

The Scheme shall consult the Resolution Committee and

the competent authority on the measures and the conditions imposed

on the member.

(4) Alternative measures as referred to in sub-regulation (3)

shall not be applied where the competent authority, after consulting

the Resolution Committee, considers the conditions for resolution

action under Directive 2014/59/EU to be met.

(5) If available financial means are used in accordance with

sub-regulation (3), the members shall immediately provide the

Scheme with the means used for alternative measures, where

necessary in the form of extraordinary contributions, where

(a)

the need to reimburse depositors arises and the

available financial means of the Scheme amount to less than

two-thirds of the target level;

(b) the available financial means fall below 25% of the

target level

Provided that until the target level has been reached for the

first time, the above thresholds shall apply in relation to the available

financial means.

(6) The Scheme, in consultation with the competent authority,

may decide that the available financial means may also be used to

finance measures to preserve the access of depositors to covered

deposits, including transfer of assets and liabilities and deposit book

transfer, in the context of insolvency proceedings, provided that the

costs borne by the Scheme do not exceed the net amount of

compensating covered depositors at the member concerned.

PART VI

Supplementary

34. (1) The Scheme may, in consultation with the

competent authority, lend to other DGSs within the European Union

on a voluntary basis, provided that it ensures that the following

conditions are met

(a)

the borrowing DGS is not able to fulfil its

obligations under Article 9(1) of the Directive because of a lack

of available financial means;

(b) the borrowing DGS has made recourse to

extraordinary contributions referred in Article 10(8) of the

Directive;

(c)

the borrowing DGS undertakes the legal

commitment that the borrowed funds will be used in order to

pay claims under Article 12 of the Directive;

(d) the borrowing DGS is not currently subject to an

obligation to repay a loan to other DGSs under this regulation;

(e)

the borrowing DGS states the amount of money

requested;

(f)

the total amount lent does not exceed 0.5% of

covered deposits of the borrowing DGS;

(g) the borrowing DGS informs the European Banking

Authority without delay and states the reasons why the

conditions set out in this sub-regulation are fulfilled and the

amount of money requested.

(2) The Scheme shall ensure that the loan shall be subject to

the following conditions

(a)

the borrowing DGS must repay the loan within five

years. It may repay the loan in annual instalments. Interest shall

be due only at the time of repayment;

(b) the interest rate set must be at least equivalent to the

marginal lending facility rate of the European Central Bank

during the credit period;

(c)

the Scheme must inform the European Banking

Authority of the initial interest rate and the duration of the loan.

(3) The Scheme shall ensure that the contributions levied by

the borrowing DGS are sufficient to reimburse the amount borrowed

and to re-establish the target level as soon as possible.

35. (1) Where a member sets up a branch in another Cooperation

Member State, the Scheme shall cover the depositors at such a between

Member States.

branch. The DGS of the host Member State shall repay the depositors

of that branch on behalf of the Scheme in accordance with the

instructions of the Scheme. The DGS of the host Member State shall

not bear any liability with regard to acts done in accordance with the

instructions given by the Scheme. The Scheme shall provide the

necessary funding prior to pay out and shall compensate the DGS of

the host Member State for the costs incurred.

(2) Depositors at a branch operating in Malta set up by a credit

institution established in another Member State shall be repaid by the

Scheme on behalf of the DGS in the home Member State. The

Scheme shall make repayments in accordance with the instructions of

the DGS of the home Member State. The Scheme shall not bear any

liability with regard to acts done in accordance with the instructions

given by the DGS of the home Member State. The DGS of the home

Member State shall provide the necessary funding prior to pay out

and shall compensate the Scheme for the costs incurred.

(3) The Scheme shall exchange information referred to under

Article 4(7), (8) and (10) of the Directive with the DGSs in host

Member States. The restrictions set out in Article 4 of the Directive

shall apply to such exchanges of information.

(4) In order to facilitate an effective cooperation between the

Scheme and DGSs in other Member States, with particular regard to

this regulation and to regulation 34, the Scheme and the DGSs in

other Member States shall have written cooperation agreements in

place. Such agreements shall take into account the requirements laid

down in Article 4(9) of the Directive.

(5) The Scheme shall notify the European Banking Authority

of the existence and the content of such agreements. If the Scheme

cannot reach an agreement with a DGS in a Member State or if there

is a dispute about the interpretation of an agreement, the Scheme may

refer the matter to the European Banking Authority in accordance

with Article 19 of Regulation (EU) No 1093/2010. The absence of

such agreements shall not affect the claims of depositors under

regulation 18(1) or of credit institutions under regulation 31(1).

(6) The Scheme shall ensure that appropriate procedures are in

place to enable the Scheme to share information and communicate

effectively with other DGSs, their affiliated credit institutions and the

relevant competent and designated authorities within their own

jurisdictions and with other agencies on a cross-border basis, where

appropriate.

(7) The Scheme may cooperate with other DGSs operating in

the European Union through a European scheme which may be set up

by the European Parliament and the Council to prevent risks arising

from cross-border activities and protect deposits from such risks.

36. (1) For the purpose of enabling the Scheme and the

competent authority to carry out their respective functions and duties,

the Scheme and the competent authority may share and exchange

information and resources, and shall otherwise consult and

collaborate with one another. The duties of confidentiality shall apply

to any such communications.

(2) The competent authority shall inform the Scheme as soon

as possible in the event that the competent authority detects problems

in a member that are likely to give rise to the intervention of the

Scheme.

37. (1) The Scheme shall check that a branch established in Branches of

Malta by a credit institution which has its head office outside the credit

institutions

European Union has protection equivalent to that prescribed in these established

third countries.

regulations and, in particular, shall check that depositors of that

branch benefit from the same coverage level and scope of protection

as provided for in these regulations.

(2) Each branch established in Malta by a credit institution

which has its head office outside the European Union and which is

not a member of the Scheme shall provide to actual or intending

depositors at that branch all relevant information concerning the

existence or otherwise of guarantee arrangements for deposits held in

that branch.

(3) The information referred to in sub-regulation (2) shall be

made available in the language that was agreed by the depositor and

the credit institution when the account was opened or in an official

language of Malta and shall be clear and comprehensible.

38. A notice or other document to be given, provided or served Mode of

under these regulations shall be deemed to have been duly given or service.

served on a person if the requirements of article 187(1) and (4) of the

Code of Organisation and Civil Procedure are complied with

Provided that a notice or other document may in all cases

be served by means of a judicial act, in which case the relevant

provisions of the Code of Organisation and Civil Procedure shall Cap. 12.

apply.

39. The Scheme shall communicate and correspond with a Language.

depositor in any one of the official languages of Malta or in any other

official language of the European Union that is used by the credit

institution which holds the eligible deposit.

40. (1) The Scheme and its officers or agents shall be Confidentiality.

subject to the provisions of the Professional Secrecy Act and shall Cap. 377.

keep confidential any information obtained by them in the course of

performing their duties under these regulations, and shall not reveal

any information to any person, credit institution, association or entity

except as may be allowed by these regulations or any other law or by

Court order.

(2) The duty of confidentiality shall not be contravened in the

case of

(a)

exchange of information between the Scheme, the

competent authority and the DGSs and, or competent authorities

in other Member States, provided that the relevant information

is necessary for the discharge of their duties under these

regulations; and

(b) any use or disclosure as may be required to enable

the Scheme and its officers or agents to perform their duties and

carry out their functions under these regulations.

41. (1) Without prejudice to any other provision of these

regulations, a credit institution or any director or official thereof, who

fails to comply with the Scheme’s request for information within the

period of time established by the Scheme pursuant to these

regulations, or who knowingly or recklessly furnishes information, or

makes a statement which is inaccurate, false or misleading in any

material respect, shall, for every such failure, be liable to an

administrative penalty not exceeding one hundred and twenty-five

thousand euro (€125,000) as may be imposed by the competent

authority by means of a notice in writing and without recourse to a

court hearing.

(2) Where an administrative penalty has been imposed by the

competent authority in terms of this regulation, an appeal shall lie to

the Financial Services Tribunal in accordance with articles 10 and

35A of the Banking Act.

42. (1) The competent authority may issue banking rules to

credit institutions for the purposes of these regulations.

(2) Such banking rules may contain such incidental,

supplementary and consequential provisions as appear to the

competent authority to be expedient for the purpose of these

regulations.

43. The Scheme and officers or agents of the Scheme shall not

be liable in damages for anything done or omitted in the discharge of

functions under these regulations unless it is shown that the act or

omission was in bad faith.

44. (1) The Depositor Compensation Scheme Regulations,

2003, (hereinafter referred to as "the revoked regulations") shall, with

effect from the date of entry into force of these regulations, be

2003. revoked and any reference in any law, regulation or administrative

provision to the revoked regulations shall, for all intents and

purposes, be construed as a reference to these regulations.

(2) All appointments, decisions, contributions, claims,

payments or other acts made or taken under the revoked regulations,

before the coming into force of these regulations, shall continue in

force and shall be deemed to have been made or taken under these

regulations.

(3) All assets and liabilities which vested in the Scheme before

the coming into force of these regulations shall belong to the Scheme

in virtue of these regulations. Upon the coming into force of these

regulations, any balances held on the Scheme’s "Contribution Fund"

and on the "Special Contribution Fund" shall be allocated to the

available financial means of the Scheme, and in determining the

amount of compensation contribution due by any member, account

shall be had of that member’s previous contributions to the Scheme’s

"Contribution Fund" and to the "Special Contribution Fund".

(4) The Scheme shall require all of its members to inform their

depositors about the deposits or categories of deposits or other

instruments which will no longer be covered by the Scheme from 3rd

July 2015.

(4) Any reference in any law, regulation or administrative

provision to Directive 94/19/EC as amended shall, for all intents and

purposes, be construed as a reference to Directive 2014/49/EU.