Depositor Compensation Scheme (Amendment) Regulations, 2025

L.N. 187 of 2025

BANKING ACT

(CAP. 371)

Depositor Compensation Scheme (Amendment) Regulations, 2025

IN EXERCISE of the powers conferred by article 28A of the

Banking 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:-

The title of these regulations is the Depositor Citation.

Compensation Scheme (Amendment) Regulations, 2025 and these

regulations shall be read and construed as one with the Depositor S.L. 371.09.

Compensation Scheme Regulations, hereinafter referred to as the

"principal regulations".

In sub-regulation (3) of regulation 4 of the principal Amends

regulations the words "The legal and judicial representation of the regulation

the principal

Scheme shall vest in the chairperson of the Management Committee:" regulations.

shall be substituted by the words

"The legal and judicial representation of the Scheme

shall vest in the chairperson of the Management

Committee or, in the event that another member is

designated to carry out the functions of chairperson in

accordance with regulation 5(12) of the Investor

Compensation Scheme Regulations, applicable by virtue

of regulation 5, such legal and judicial representation

shall, for the duration of the term for which he is

designated as chairperson, vest in such other member:".

Regulation 5 of the principal regulations shall be amended Amends

regulation 5 of

as follows

the principal

regulations.

(a) in sub-regulation (2) thereof the words "regulations 3

and 5" shall be substituted by the words "regulation 5";

(b) in sub-regulation (3) thereof the words "Regulations

3 and 5 of the Investor Compensation Scheme Regulations shall

apply" shall be substituted by the words "Regulation 5 of the

Investor Compensation Scheme Regulations shall apply".

Immediately after regulation 5 of the principal regulations, Adds new

regulation to the

principal

regulations.

as amended, there shall be added the following new regulation

Notwithstanding the provisions of regulation

5(4) of the Investor Compensation Scheme Regulations,

termination of

made applicable by virtue of regulation 5, the term of

office of the members of the Management Committee

sitting on the said Committee on 2nd September 2025,

shall be deemed to be terminated on the said date.".

€0.18