Administrators) Regulations, 2020

Suppliment tal-Gazzetta tal-Gvern ta’ Malta Nru. 20,366, 13 ta’ Marzu, 2020 B 513

L.N. 46 of 2020

RETIREMENT PENSIONS ACT

(CAP. 514)

Retirement Pensions (Transitional Provisions on Back-Office

Administrators) Regulations, 2020

IN EXERCISE of the powers conferred by article 56 of the

Retirement Pensions Act, the Minister responsible for the regulation of

financial services, acting on the advice of the Malta Financial Services

Authority, has made the following regulations

(1) The title of these regulations is the Retirement Citation and

Pensions (Transitional Provisions on Back-Office Administrators) commencement.

Regulations, 2020.

(2) These regulations shall come into force on such date as the

Minister responsible for the regulation of financial services may by

notice in the Gazette establish, and different dates may be so

established for different provisions of these regulations.

(1) Subject to sub-regulation (2), any person, who on the Persons carrying

date of coming into force of these regulations is in possession of a on

administrative

recognition issued under article 7 of the Retirement Pensions Act, shall activities.

surrender the recognition certificate to the competent authority by not

later than twelve (12) months from the date of coming into force of

these regulations.

(2) Any person referred to in sub-regulation (1) may continue

to provide back-office administrative activities in terms of article 7 of

the Retirement Pensions Act, until the date of the surrender of its Cap. 514.

recognition in terms of sub-regulation (1), on condition that such

person

(a) provides the competent authority with such

information as it may request, within such period as it may

direct;

(b) continues to comply with the provisions of the

Retirement Pensions Act, any regulations and Pension Rules Cap. 514.

issued thereunder; and

(c) continues to comply with any conditions imposed by

the competent authority upon being granted recognition.

(3) The surrender of the recognition certificate shall be without

prejudice to anything done, or omitted to be done under the provisions

of the Retirement Pensions Act, regulations and rules issued

thereunder, regulating back office activities.

€0.09