CENTRAL BANK OF MALTA ACT (APPOINTMENT OF RELEVANT NATIONAL AUTHORITY ON BENCHMARKS) REGULATIONS

CENTRAL BANK OF MALTA ACT (APPOINTMENT OF

RELEVANT NATIONAL AUTHORITY ON BENCHMARKS)

SUBSIDIARY LEGISLATION 204.09

CENTRAL BANK OF MALTA ACT (APPOINTMENT

OF RELEVANT NATIONAL AUTHORITY ON

BENCHMARKS) REGULATIONS

29th November, 2022

LEGAL NOTICE 315 of 2022.

(1)

The title of these regulations is the Central Bank

of Malta Act (Appointment of Relevant National Authority on

Benchmarks) Regulations.

(2)

The scope of these regulations is to implement the

relevant provisions of Regulation (EU) 2021/168 of the European

Parliament and of the Council of 10 February 2021 amending

Regulation (EU) 2016/1011 as regards the exemption of certain third-

country spot foreign exchange benchmarks and the designation of

replacements for certain benchmarks in cessation, and amending

Regulation (EU) No 648/2012.

In these regulations, unless the context otherwise

requires

"benchmark" means any index by reference to which the

amount payable under a financial instrument or a financial

contract, or the value of a financial instrument, is determined,

or an index that is used to measure the performance of an

investment fund with the purpose of tracking the return of said

index or of defining the asset allocation of a portfolio or of

computing the performance fees;

"Benchmarks Regulation" means Regulation (EU) 2021/

168 of the European Parliament and of the Council of 10

February 2021 amending Regulation (EU) 2016/1011 as

regards the exemption of certain third-country spot foreign

exchange benchmarks and the designation of replacements for

certain benchmarks in cessation, and amending Regulation

(EU) No 648/2012.

(1)

The Central Bank of Malta shall be a designated

relevant national authority in Malta for the purposes of carrying out

the assessment in accordance with point (a) of paragraph 5 of Article

23b of the Benchmarks Regulation.

(2)

For the purposes of sub-regulation (1), the Central Bank

of Malta shall act jointly with the Malta Financial Services Authority,

designated as a relevant national authority in accordance with the

Malta Financial Services Authority Act (Indices used as benchmarks

in financial instruments and financial contracts or to measure the

CENTRAL BANK OF MALTA ACT (APPOINTMENT OF

RELEVANT NATIONAL AUTHORITY ON BENCHMARKS)

performance of investment funds) (Amendment) Regulations, 2022.

(3)

For the purposes of these regulations, the Central Bank of

Malta and the Malta Financial Services Authority shall collaborate,

cooperate and exchange information in their possession and for such

purpose the Central Bank of Malta and the Malta Financial Services

Authority may also enter into a bilateral agreement or other forms of

arrangements for the better collaboration, cooperation and exchange of

information.