CENTRAL BANK OF MALTA ACT (APPOINTMENT OF COMPETENT AUTHORITY ON INTERCHANGE FEES FOR CARD-BASED PAYMENT

CENTRAL BANK OF MALTA ACT (APPOINTMENT OF

COMPETENT AUTHORITY ON INTERCHANGE FEES

FOR CARD-BASED PAYMENT TRANSACTIONS)

SUBSIDIARY LEGISLATION 204.07

CENTRAL BANK OF MALTA ACT (APPOINTMENT

OF COMPETENT AUTHORITY ON INTERCHANGE

FEES FOR CARD-BASED PAYMENT

TRANSACTIONS) REGULATIONS

9th October, 2015

LEGAL NOTICE 326 of 2015, as amended by Legal Notice 220 of 2016.

(1) The title of these regulations is the Central Bank of

Malta Act (Appointment of Competent Authority on Interchange

Fees for Card-Based Payment Transactions) Regulations.

(2) The scope of these regulations is to implement the

provisions of Regulation (EU) No 2015/751 of the European

Parliament and of the Council of 29 April 2015 on interchange fees

for card-based payment transactions hereinafter referred to as "the

Regulation".

The Minister for Finance hereby appoints the Central Bank

of Malta as the competent authority for the purposes of Article 13

of the Regulation to ensure the enforcement of the Regulation, and

to monitor effectively compliance with the Regulation, including to

counter attempts by the payment service providers to circumvent

the Regulation and to take all necessary measures to ensure such

compliance.

The Minister for Finance further 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 designates the Financial

Services Tribunal 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.