Transactions) (Amendment) Regulations, 2016

L.N. 220 of 2016

CENTRAL BANK OF MALTA ACT

(CAP. 204)

Central Bank of Malta Act (Appointment of Competent

Authority on Interchange Fees for Card-based Payment

Transactions) (Amendment) Regulations, 2016

IN exercise of the powers conferred by sub-article (2) of article

60 of the Central Bank of Malta Act, the Minister for Finance, after

consultation with the Central Bank of Malta, has made the following

regulations:-

The title of these regulations is the Central Bank of Malta Citation.

Act (Appointment of Competent Authority on Interchange Fees for

Card-Based Payment Transactions) (Amendment) Regulations, 2016,

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

Central Bank of Malta Act (Appointment of Competent Authority on S.L. 204.07

Interchange Fees for Card-Based Payment Transactions) Regulations,

hereinafter referred to as "the principal regulations".

Immediately after regulation 2 of the principal regulations Adds new

regulations to

there shall be added the following new regulations

the principal

regulations.

" Imposition of

The Minister for Finance further

sanctions.

empowers the Central Bank of Malta, for the

purposes of Article 14 of the Regulation, to issue

and enforce sanctions where any person

contravenes or fails to comply with the

provisions of the Regulation, and to take all

necessary measures to ensure that they are

applied.

The Minister for Finance hereby

Complaint and

redress

designates the Financial Services Tribunal

procedures.

established under article 21 of the Malta

Financial Services Authority Act as the

competent tribunal to hear and adjudicate on any

complaint or redress procedure instigated by, or

arising between, any payee and, or its payment

service provider in respect of disputes arising

pursuant to the application of the provisions of

the Regulation.".

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€0.18