Funds) (Amendment) Regulations, 2022

Suppliment tal-Gazzetta tal-Gvern ta’ Malta Nru. 20,852, 6 ta’ Mejju, 2022 B 711

L.N. 129 of 2022

INVESTMENT SERVICES ACT

(CAP. 370)

Investment Services Act (Marketing of Alternative Investment

Funds) (Amendment) Regulations, 2022

IN EXERCISE of the powers conferred by article 12 of the

Investment Services 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 Investment Citation and

Services Act (Marketing of Alternative Investment Funds) scope.

(Amendment) Regulations, 2022, and these regulations shall be read

and construed as one with the Investment Services Act (Marketing of S.L. 370.21.

Alternative Investment Funds) Regulations, hereinafter referred to as

"the principal regulations".

(2) The scope of these regulations is to transpose Article 2(4)

of Directive (EU) 2019/1160 of the European Parliament and of the

Council of 20 June 2019 amending Directives 2009/65/EC and 2011/

61/EU with regard to cross-border distribution of collective investment

undertakings.

Immediately after sub-regulation (19) of regulation 4 of the Amends

principal regulations, there shall be added the following new sub- regulation

the principal

regulation

regulations.

"(19A)Without prejudice to other supervisory powers

referred to in Article 45(3) of the AIFM Directive, as from the

date of transmission under sub-regulation (19), the European

regulatory authority of the Member State or EEA State identified

in the notification referred to in sub-regulation (16), shall not

require the Maltese AIFM concerned to demonstrate compliance

with national laws, regulations and administrative provisions

governing marketing requirements as referred to in Article 5 of

Regulation (EU) 2019/1156 of the European Parliament and of

the Council of 20 June 2019 on facilitating cross-border

distribution of collective investment undertakings and amending

Regulations (EU) No 345/2013, (EU) No 346/2013 and (EU) No

1286/2014.".

Immediately after sub-regulation (14) of regulation 5 of

the principal regulations, there shall be added the following new

sub-regulations

"(14A) Where the competent authority is identified in the

notification referred to in sub-regulation (11), it shall have the

same rights and obligations as the competent authorities of the

host Member State of the AIFM as set out in Article 45 of the

AIFM Directive.

(14B) Without prejudice to other supervisory powers

referred to in Article 45(3) of the AIFM Directive, as

transposed into national law, as from the date of transmission

under sub-regulation (14), the competent authority shall not

require the European AIFM concerned to demonstrate

compliance with national laws, regulations and administrative

provisions governing marketing requirements as referred to in

Article 5 of Regulation (EU) 2019/1156 of the European

Parliament and of the Council of 20 June 2019 on facilitating

cross-border distribution of collective investment undertakings

and amending Regulations (EU) No 345/2013, (EU) No 346/

2013 and (EU) No 1286/2014.".

€0.09