Regulations, 2017

Suppliment tal-Gazzetta tal-Gvern ta’ Malta Nru. 19,717, 25 ta’ Jannar, 2017 B 281

L.N. 34 of 2017

INSURANCE BUSINESS ACT

(CAP. 403)

Insurance Business (Exemptions) (Amendment)

Regulations, 2017

IN exercise of the powers conferred by articles 6(3)(a) and 64 of

the Insurance Business Act, the Minister for Finance, after

consultation with the Malta Financial Services Authority, has made

the following regulations:-

The title of these regulations is the Insurance Business Citation.

(Exemptions) (Amendment) Regulations, 2017, and these regulations

shall be read and construed as one with the Insurance Business S.L. 403.22

(Exemptions) Regulations, hereinafter referred to as "the principal

regulations".

Paragraph (b) of regulation 4 of the principal regulations Amends

regulation 4 of

shall be amended as follows

the principal

regulations.

(a)

in sub-paragraph (ii) thereof, for the words "a flat

rate basis; or", there shall be substituted the words "a flat rate

basis;";

(b) in sub-paragraph (iii) thereof, for the words "of

technical reserves;", there shall be substituted the words "of

technical reserves; or"; and

(c)

immediately after sub-paragraph (iii) thereof, there

shall be added the following new sub-paragraph

"(iv) export credit insurance operations, for the

account of or guaranteed by the Government of Malta, or

where the Government of Malta is the insurer, falling

within the scope of Article 5(4) of the Solvency II

Directive;".

B

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