DEPOSITOR COMPENSATION SCHEME REGULATIONS

SUBSIDIARY LEGISLATION 371.09

DEPOSITOR COMPENSATION SCHEME

REGULATIONS

4th December, 2015;

31st May, 2016 *

LEGAL NOTICE 383 of 2015, as amended by Legal Notices 132 of 2017

43 of 2019 and 193 and 262 of 2022, 279 of 2023 and 187 of 2025.

PART I

Preliminary

(1) The title of these regulations is the Depositor

Compensation Scheme Regulations.

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

relevant provisions of Directive 2014/49/EU of the European

Parliament and of the Council of 16th April 2014 on deposit

guarantee schemes, and these regulations shall be interpreted and

applied accordingly.

Amended by

L.N.132 of 2017;

Depositor Information Sheet

L.N. 279 of 2023.

Basic information about the

protection of deposit

Deposits in (insert name of credit T h e D e p o s i t o r C o m p e n s a t i o n S c h e m e ,

institution) are protected by

established under regulation 4 of the Depositor

Compensation Scheme Regulations, 2015.

Limit of protection

EUR 100,000 per depositor per credit

institution 2

If you have more deposits at the A l l y o u r d e p o s i t s a t t h e s a m e c r e d i t

same credit institution

institution are "aggregated" and the total is

subject to the limit of EUR 100,000.

If you h ave a joint account with The limit of EUR 100,000 applies to each

depositor separately 3

other person(s)

Reimbursement period in case of 20 working days 4

credit institution’s failure

Currency of reimbursement

Euro

Contact

Depositor Compensation Scheme, c/o Malta

Financial Services Authority, Triq l-Imdina,

Zone 1, Central Business District, Birkirkara,

CBD 1010, Tel: (+) 356 21441155; Email

dcs_ics@compensationschemes.org.mt.

More information

www.compensationshemes.org.mt

Acknowledgement of receipt by the

depositor

Scheme responsible for the protection of your deposit

Your deposit is covered by a statutory Deposit Guarantee Scheme. If

insolvency of your credit institution should occur, your deposits would in any

case be repaid up to EUR100,000.

General limit of protection

If a deposit is unavailable because a credit institution is unable to meet its

financial obligations, depositors are repaid by the Depositor Compensation

Scheme, in accordance with the regulations. This repayment covers a

maximum of EUR 100,000 per credit institution. This means that all deposits at

DEPOSITOR COMPENSATION SCHEME

the same credit institution are added up in order to determine the coverage

level. If, for instance, a depositor holds a savings account with EUR 90,000

and a current account with EUR 20,000, he or she will only be repaid EUR

100,000.

In addition to the protection described above, deposits may be protected in

some cases up to a maximum of EUR 500,000 for six months after the amount

has been credited or from the moment when such deposits become legally

transferable. In order to qualify for such higher protection, a deposit in excess

of EUR 100,000 must meet any one of the following additional criteria

(A) it comprises

(a) monies deposited in preparation for the purchase of a private residential

property by the depositor; or

(b) monies which represent the proceeds of sale of a private residential

property of the depositor; or

(B) it comprises sums paid to the depositor in respect of

(a) a separation, divorce or dissolution of their civil union; or

(b) benefits payable on retirement; or

(c) a claim for compensation for unfair dismissal; or

(d) a claim for compensation for redundancy; or

(e) benefits payable for death or bodily injury; or

(f)

a claim for compensation for wrongful conviction.

More information can be obtained under www.compensationschemes.org.mt

Limit of protection for joint accounts

In case of joint accounts, the limit of EUR 100,000 applies to each depositor.

However, deposits in an account to which two or more persons are entitled as

members of a business partnership, association or grouping of a similar nature,

without legal personality, are aggregated and treated as if made by a single

depositor for the purpose of calculating the limit of EUR 100,000.

Reimbursement

The responsible Deposit Guarantee Scheme is the Depositor Compensation

Scheme, c/o Malta Financial Services Authority, Triq l-Imdina, Zone 1, Central

Business District, Birkirkara, CBD 1010, Tel: (+) 356 21441155; Email

dcs_ics@compensationschemes.org.mt.

It will repay your deposits up to EUR 100,000 within 20 working days until 31

December 2018; within 15 working days from 1 January 2019 until 31

December 2020; within 10 working days from 1 January 2021 until 31

December 2023; and within 7 working days from 1 January 2024 onwards.

Until 31 December 2023, where the Depositor Compensation Scheme cannot

make the repayable amount(s) available within seven (7) working days, depositors

shall have access to an amount, equivalent to three times the gross weekly

minimum wage to cover the cost of living, within five (5) working days of a

request from the depositor. The Depositor Compensation Scheme shall only grant

access to such amount within five (5) working days on the basis of data provided

by the credit institution. Such amount shall be deducted from the compensation

which may be payable.

If you have not been repaid within these deadlines, you should make contact

with the Depositor Compensation Scheme since the time to claim

reimbursement may be barred after a certain time limit. Further information

can be obtained from

www.compensationschemes.org.mt.

Other important information

In general, all retail depositors and businesses are covered by the Depositor

Compensation Scheme. Exceptions for certain deposits are stated on the

website of the Depositor Compensation Scheme. Your credit institution will

also inform you on request whether certain products are covered or not. If

deposits are covered, the credit institution shall also confirm this on the

statement of account.

For the purposes of these regulations the following

definitions shall apply

"available financial means" means cash, deposits and low-risk

assets which can be used for the purposes laid down in regulation

33 and which can be liquidated within a period not exceeding that

referred to in regulation 13(2) and payment commitments up to the

limit set out in regulation 23(3);

"branch" means a place of business in a Member State which

forms a legally dependent part of a credit institution and which

carries out directly all or some of the transactions inherent in the

business of credit institutions;

"compensation date" means the date on which

(a) the competent authority has determined that in its view

the member concerned appears to be unable for the

time being, for reasons which are directly related to its

financial circumstances, to repay the deposit and the

member has no current prospect of being able to do so;

or

(b) a judicial authority has made a ruling for reasons

which are directly related to the member’s financial

circumstances and which has the effect of suspending

the rights of depositors to make claims against it;

"competent authority" means the competent authority under the

Banking Act;

"covered deposits" means the part of eligible deposits that does

not exceed the coverage level laid down in regulation 10;

"credit institution" means a credit institution as defined in article

*see regulation 1(3) of these Regulations as originally promulgated.

2 of the Banking Act;

"deposit" means a credit balance, including, as the case may be,

any interest accrued thereon, which results from funds left in an

account or from temporary situations deriving from normal banking

transactions and which a credit institution is required to repay

under the legal and contractual conditions applicable, including a

fixed-term deposit and a savings deposit, but excluding a credit

balance where

(a) its existence can only be proven by a financial

instrument as defined in Article 4(17) of Directive

2004/39/EC, unless it is a savings product which is

evidenced by a certificate of deposit made out to a

named person and which existed in Malta on 2 July

2014; or

(b) its principal is not repayable at par; or

(c) its principal is only repayable at par under a particular

guarantee or agreement provided by the credit

institution or a third party;

"deposit guarantee schemes" or "DGSs" means schemes referred

to in Article 1(2) of the Directive, namely

(a) statutory

schemes,

including

the

Depositor

Compensation Scheme established under regulation 4;

(b) contractual schemes that are officially recognized as

deposit guarantee schemes in accordance with Article

4(2) of the Directive;

(c) institutional protection schemes that are officially

recognised as deposit guarantee schemes in

accordance with Article 4(2) of the Directive;

"depositor" means the holder or, in the case of a joint account,

each of the holders, of a deposit; and, in the case of a deceased

depositor, the successor in title of such depositor such as an heir or

a legatee of a deposit;

"Directive" means Directive 2014/49/EU of the European

Parliam ent and of the Council of 16 April 2014 on deposit

guarantee schemes;

"deferred file" means a single, consistent view of a depositor’s

eligible deposits with a member which contains the information set

out in regulation 20(5) limited to accounts which

(a) hold any funds to which the depositor is not absolutely

entitled; or

(b) are not active;

"dormant account" means a deposit account in relation to which

there has been no transaction within the previous twenty-four

months;

"EBA" means the European Banking Authority established by

Regulation (EU) No 1093/2010 of the European Parliament and of

the Council;

"EEA State" means a State which is a contracting party to the

agreement on the European Economic Area signed at Oporto on the

2nd May 1992, as amended by the protocol signed at Brussels on

17th March 1993, and as amended by any subsequent acts;

"eligible deposits" means deposits that are not excluded from

protection pursuant to regulation 9, and includes deposits held in an

account entitled to compensation pursuant to regulation 12(5);

"European Union" means the European Union as defined in

article 2 of the European Union Act;

"Financial Services Tribunal" means the tribunal established in

terms of the Malta Financial Services Authority Act;

"financial year" means the financial year of the Scheme which

shall be an accounting period of twelve months ending on the

thirty-first day of December of each year;

"home Member State" means the Member State in which a credit

institution has been granted authorisation;

"host Member State" means the Member State in which a credit

institution has a branch or in which it provides services, other than

its home Member State;

"in default" describes the status of a member whose deposits are

unavailable deposits;

"institutional protection schemes" or "IPS" means institutional

protection schemes as referred to in Article 113(7) of Regulation

(EU) No 575/2013;

"joint account" means an account opened in the name of two or

more persons or over which two or more persons have rights that

are exercised by means of the signature of one or more of those

persons;

"low-risk assets" means items falling into the first or second

category referred to in Table 1 of Article 336 of Regulation (EU)

No 575/2013 or any assets which are considered to be similarly

safe and liquid by the competent authority;

"Management Committee" means the Scheme’s Management

Committee established under regulation 5;

"management expenses" means expenses incurred, or expected to

be incurred, by the Scheme in connection with its objective and

functions under these regulations other than those incurred in

payi ng co mpensation, financing the reso lution of m em bers

pursuant to regulation 33(2), using its available financial means for

alternative measures to prevent the failure of a member pursuant to

regulation 33(3), or using its available financial means for

alternative measures to preserve the access of depositors to covered

deposits, including transfer of assets and liabilities and deposit

book transfer, in the context of insolvency proceedings, pursuant to

regulation 33(6);

"member" means a credit institution participating in the Scheme;

"Member State" means a Member State of the European Union

and includes an EEA State;

"not active account" means

(a) it is uncertain whether a person is entitled to receive

compensation, such as when

(i)

the account holder is deceased;

(ii)

the deposit is a pledged account;

(iii)

the deposit is held by a minor; or

(iv)

the deposit is subject to usufruct or similar

rights,

(b) the deposit is subject to legal dispute;

(c) the deposit is subject to restrictive measures imposed

by national governments or international bodies;

(d) the depositor has been charged with an offence arising

out of or in relation to money laundering as defined in

Article 1(2) of Directive 2005/60/EC;

(e) the deposit is a dormant account;

"passporting right" means the entitlement of a person to establish

a branch or provide services in an EEA State other than that in

which that person has its relevant office in accordance with the

Treaty as applied in the European Economic Area;

"payment commitments" means payment commitments of a

member towards the Scheme in accordance with regulation 23(3),

which are fully collateralised provided that the collateral

(a) consists of low risk assets; and

(b) is unencumbered by any third-party rights and is at the

disposal of the Scheme;

"private residential property" means a dwelling house which

was, is, or is intended to become the depositor’s only or principal

residence;

"Resolution Committee" means the committee established under

the Malta Financial Services Authority Act;

"Scheme" means the Depositor Compensation Scheme

established under regulation 4;

"SCV report" means the report specified in regulation 21 from a

member’s board of directors confirming that the member’s SCV

system satisfies the SCV requirements;

"SCV requirements" means the requirements on members set out

in regulation 20;

"SCV system" means a member’s system for satisfying the SCV

requirements;

"single customer view file" means a single, consistent view of

depositors’ aggregate eligible deposits with a member which

contains the information set out in regulation 20(5), but excludes

from view those deposits included in the deferred file;

"target level" means the amount of available financial means

w h i c h t h e S c h e m e i s r e q u i r e d t o r e a c h i n ac c o r d a n c e w i t h

regulation 23(2), expressed as a percentage of covered deposits of

its members;

"temporary high balance" means, in relation to a depositor who is

an individual, that part of an eligible deposit in excess of EUR

100,000 which meets the additional criteria set out in regulation 11;

"unavailable deposit" means a deposit that is due and payable but

that has not been paid by a member under the legal or contractual

conditions applicable thereto, where either

(a) the competent authority has determined that in its view

the member concerned appears to be unable for the

time being, for reasons which are directly related to its

financial circumstances, to repay the deposit and the

member has no current prospect of being able to do so;

or

(b) a judicial authority has made a ruling for reasons

which are directly related to the member’s financial

circumstances and which has the effect of suspending

the rights of depositors to make claims against it.

(1) The objective of these regulations is to implement the

relevant provisions of the Directive, and these regulations shall be

interpreted and applied accordingly.

(2) Without prejudice to any other power or function conferred

on it by these regulations or by any other law, it shall be the

function of the Scheme

(a) to maintain a fund or funds out of which payments

shall be made to depositors and to meet such other

payments or expenses as may be paid out of the fund

or funds in accordance with these regulations;

(b) to establish and maintain, after consultations with the

competent authority, arrangements for the making of

payments to depositors in accordance with these

regulations;

(c) to process claims for compensation by depositors as

expeditiously as possible and to ensure that

compensation is paid out without undue delay in terms

of these regulations;

(d) to finance the resolution of members pursuant to

regulation 33(2);

(e) to use its available financial means for alternative

measures to prevent the failure of a member pursuant

to regulation 33(3);

(f)

to use its available financial means for alternative

measures to preserve the access of depositors to

covered deposits, including transfer of assets and

liabilities and deposit book transfer, in the context of

insolvency proceedings, pursuant to regulation 33(6);

(g) to advise the competent authority on matters relating

to the functions of the Scheme.

PART II

Depositor Compensation Scheme

(1)

There shall be established a Depositor Compensation

Scheme.

(2) The Scheme shall be a body corporate having a distinct

legal personality and shall be capable, subject to the provisions of

the Banking Act and of these regulations, of entering into contracts

of borrowing or otherwise incurring indebtedness for the purposes

of its functions, of acquiring, holding and disposing of any kind of

property for the purposes of its functions, of suing or being sued

and of doing all such things and entering into all such transactions

as are incidental or conducive to the exercise or performance of its

functions.

(3) 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

Provided that, and without prejudice to the foregoing, the

Management Committee may vest any one or more of its members

or of the officers or agents of the Scheme with legal or judicial

representation.

(4) The establishment of the Depositor Compensation Scheme

pursuant to regulation 4 (1) shall not preclude the merger with a

DGS or DGSs of a different Member State or Member States or the

establishment of a cross-border DGS within the meaning of article

4 (1) of the Directive

Provided that the approval of such cross-border or merged

DGSs shall be obtained from the competent authority or the

Member States where the DGSs concerned are established.

(1) The Scheme shall be managed and administered by and

shall be under the general control of the Management Committee.

(2) The Management Committee shall be composed of the same

p e r s o n s a p p o i n t e d i n v i r t u e o f regulation 5 o f t h e I n v e s t o r

Compensation Scheme Regulations.

(3) Regulation 5 of the Investor Compensation Scheme

Regulations shall apply mutatis mutandis to the Scheme and the

Management Committee established under these regulations.

(4) The meetings of the Management Committee shall be

convened and held in accordance with regulation 9 of the Investor

Compensation Scheme Regulations.

(5) The Management Committee shall exercise all powers

which are conferred by these regulations upon the Scheme. It shall

for this purpose have the power to enter into such reasonable

administrative, management or other arrangements as may be

necessary to enable it to fulfil its objective and functions under

these regulations. The Management Committee shall have the

power to appoint officers or agents of the Scheme and to grant them

such powers or authority as it may deem appropriate.

(6) All the members of the Management Committee shall work

in the best interest of the Scheme and shall pursue and promote its

objective and functions.

(7) The Management Committee shall have in place sound and

transparent governance practices.

(8) The Management Committee shall cause proper books of

account to be kept so that the financial position of the Scheme can

be ascertained with reasonable accuracy at any time. The financial

year end of the Scheme shall be an accounting period of twelve

months ending on the thirty-first day of December of each year.

(9) The Management Committee shall submit to the competent

authority an annual report on the discharge of its functions and on

the operation of the Scheme within seven (7) months from the

financial year end of the Scheme. Such annual report shall include,

inter alia

(a) a statement showing the payments in and payments out

of the Scheme during its immediate previous financial

year;

(b) a statement showing the results of regular stress tests

of its systems undertaken by the Scheme; and

(c) annual financial statements prepared in accordance

with International Accounting Standards and audited

in accordance with International Standards on

Auditing by auditors appointed by the Scheme from

among persons who are qualified to be appointed as

auditors of a company under the law for the time being

in force in Malta.

(10) The annual report shall be made available on the websites

of the competent authority and the Scheme.

(11) The books of accounts shall be kept at such place as the

Management Committee thinks fit.

Notwithstanding the provisions of regulation 5(4) of the

Investor Compensation Scheme Regulations, 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.

(1) The Scheme shall have the power to lend to other

DGSs within the European Union, pursuant to regulation 34.

(2) The Scheme may take out insurance policies, borrow or

otherwise incur indebtedness for the purposes of the Scheme’s

objective and functions, in any way and under any terms it may

consider appropriate.

(3)

The Scheme shall ensure that it has in place adequate

financial means or relevant financing arrangements to fulfil its

objective and functions in accordance with these regulations.

(4) The Scheme shall perform regular stress tests of its

systems. Such tests shall take place at least every three years and

more frequently where appropriate. The Scheme shall use the

information necessary to perform tests of its system only for the

performance of those tests and shall keep such information no

longer than is necessary for that purpose.

(5) The Scheme shall comply with the requirements of the

E u r o p e a n Ba n k i n g A u t h o r i t y w h e n t h e A u t h o r i t y co n d u c t s

periodical peer reviews based on the results of the stress test,

pursuant to Article 30 of Regulation (EU) No 1093/2010, in order

to examine the resilience of the Scheme. The Scheme shall be

subject to the requirements of professional secrecy when

exchanging information with the European Banking Authority in

accordance with Article 70 of Regulation (EU) No 1093/2010.

(6) For the purpose of fulfilling its objectives and functions,

the Scheme shall be bound to safeguard and take into account the

general interests of depositors entitled to claim under these

regulations.

(1) A credit institution which is licensed in Malta under

the Banking Act, other than a branch established in Malta by a

credit institution which has its head office outside the European

Union, shall participate in the Scheme.

(2) Membership in the Scheme does not exclude the possibility

that particular credit institutions may have to participate also in

another compensation or similar scheme set up under a different

law and governed by another competent authority or other body, in

Malta or abroad.

PART III

Compensation

(1) The competent authority shall make a determination

pursuant to paragraph (a) of the definition "unavailable deposit" in

regulation 2 as soon as possible and in any event no later than five

working days after first becoming satisfied that a member has

failed to repay deposits which are due and payable.

(2) Where the competent authority makes a determination as

referred to in paragraph (a) of the definition "unavailable deposit"

in regulation 2, or a judicial authority makes a ruling as referred to

i n p a r a g r a p h (b ) o f t h e de fi n it i on " u na va il a b l e de po s i t" i n

regulation 2, the competent authority shall, as soon as possible,

inform the Scheme of such determination or ruling.

(3) On being informed by the competent authority of such

determination or ruling, the Scheme shall publish a notice on its

website and in at least two local newspapers, informing depositors

of the member concerned, of such determination or ruling, of the

manner in which the compensation to the depositors shall be

processed, and of the matters stipulated in regulation 11(2).

(4) The Scheme shall, as soon as possible, inform any other

DGSs which it believes may be affected by such determination or

ruling.

(5) Where the failed member has a branch in another Member

State, the Scheme shall provide the necessary information and

funding to the DGS of the host Member State in terms of regulation

(1) Depożitu jkun biss depożitu eliġibbli jekk ikollu bħala

detentur tiegħu membru

(a) f’Malta; jew

(b) fil-fergħa ta’ dak il-membru li tkun tinsab f’xi Stat

Membru ieħor.

(2)

Dawn li ġejjin mhumiex depożiti eliġibbli

(a) bla ħsara għar-regolament 12(5), depożiti magħmulin

minn istituzzjonijiet ta’ kreditu oħra f’isimhom stess u

akkont tagħhom stess;

(b) fondi proprji kif definit fil-punt (118) tal-Artikolu 4(1)

tar-Regolament (UE) Nru. 575/2013;

(ċ) depożiti li joriġinaw minn operazzjonijiet li dwarhom

kien hemm kundanna kriminali ta’ money laundering

kif definit fl-Artikolu 1(2) tad-Direttiva 2005/60/KE;

(d) depożiti minn istituzzjonijiet finanzjarji kif definit fil-

punt (26) tal-Artikolu 4(1) tar-Regolament (UE) Nru.

575/2013;

(e) depożiti minn ditti ta’ investiment kif definit fil-punt

(1) tal-Artikolu 4(1) tad-Direttiva 2004/39/KE;

(f)

depożiti li d-detentur tagħhom qatt ma ġie identifikat

kif hemm fl-Artikolu 9(1) tad-Direttiva 2005/60/KE,

meta ma jibqgħux disponibbli;

(g) depożiti minn intrapriżi tal-assigurazzjoni u minn

impriżi tar-riassikurazzjoni kif imsemmija fl-Artikolu

13(1) sa (6) tad-Direttiva 2009/138/KE;

(h) depożiti minn intrapriżi ta’ investiment kollettiv;

(i)

depożiti minn fondi ta’ pensjoni u rtirar;

(j)

depożiti minn awtoritajiet pubbliċi;

(k) titoli maħruġa minn istituzzjoni u responsabbiltajiet li

joriġinaw minn kull aċċettazjoni proprja u minn noti

promissorji;

(l)

depożiti li jkollhom bħala detentur membru fil-fergħa

ta’ dak il-membru li jkun jinsabfi Stat li mhux Stat

Membru;

(m) flus elettroniċi u fondi riċevuti bi skambju għal flus

elettroniċi kif hemm fid-Direttiva 2009/110/KE tal-

Parlament Ewropew u tal-Kunsill dwar il-bidu, l-

eżerċizzju u s-superviżjoni prudenzjali tan-negozju tal-

istituzzjonijiet tal-flus elettroniċi.

(1) L-Iskema għandha tħallas kumpens kif hawn f’dawn

ir-regolamenti fir-rigward ta’ xi depożitu eliġibbli jekk tkun

sodisfatta li d-depożitu eliġibbli jkun depożitu ma’ membru li jkun

inadempjenti.

(2) L-ogħla ammont li jitħallas bħala kumpens għal depożiti

aggregati ta’ kull depożitant huwa ta’ EUR 100,000, iżda jista’

jitħallas kumpens addizzjonali f ’dawk il-każijiet li japplika

għalihom is-subregolament (3).

(3) B’żieda mal-ogħla kumpens li jitħallas taħt is-

subregolament (2), l-ogħla ammont ta’ kumpens li jitħallas għal

bilanċ għoli temporanju huwa ta’ EUR 500,000.

(4) Minkejja d-dispożizzjonijiet tas-subregolamenti (1) sa (3),

l-Iskema għandha wkoll, kif hemm fid-dispożizzjonijiet tal-artikolu

26(3)(e) tal-Att dwar l-Arbitru għas-Servizzi Finanzjarji, tħallas

ammont għal kull sentenza jew deċiżjoni ta’ mhux iżjed minn

għoxrin elf euro (€ 20,000), rigward kull responsabbiltà ċivili dwar

il-kummerċ bankarju, li jinkiseb minn depożitant kontra xi

membru, li tiġi, jew tkun ġiet dikjarata, fi stat ta’ inadempjenza, u

dak il-ħlas għandu jsir fi żmien għaxart (10) ijiem tax-xogħol mill-

ġurnata meta s-sentenza jew id-deċiżjoni tgħaddi f’ġudikat

Iżda wara li jitħallas kull ammont bħal dak mill-Iskema, l-

ogħla somma li tista’ titħallas bħala kumpens għad-depożiti

aggregati ta’ kull depożitant kif hemm fis-subregolament (2)

għandha titnaqqas bl-ammont imħallas mill-Iskema kif hawn f’dan

is-subregolament.

(1) Sabiex ikun jista’ jikkwalifika bħala bilanċ għoli

temporanju, parti minn depożitu eliġibbli li jeċċedi EUR 100,000

għandu jkun jissodisfa lil xi wieħed mill-kriterji addizzjonali li

ġejjin

(a) ikun jikkomprendi

(i)

flejjes depożitati fil-preparazzjoni għax-xiri ta’

proprjetà residenzjali privata mid-depożitant;

jew

(ii) flejjes li jirrappreżentaw ir-rikavat mill-bejgħ ta’

proprjetà residenzjali privata tad-depożitant; jew

(b) ikun jikkomprendi ammonti paid to the depożitant

mħallsa lid-depożitant dwar xi

(i)

separazzjoni, divorzju jew ix-xoljiment tal-

unjoni ċivili tagħhom; jew

(ii) benefiċċji li jitħallsu mal-irtirar; jew

(iii) talba għal kumpens għal tkeċċija inġusta; jew

(iv) talba għal kumpens għal sensja; jew

(v) benefiċċji li jitħallsu għal xi mewt jew ħsara fuq

il-persuna; jew

(vi) talba għal kmpens għal kundanna inġusta.

(2) Fl-avviż pubblikat kif hemm fir-regolament 8(3), l-Iskema

għandha tinforma lid-depożitanti tal-istituzzjoni ta’ kreditu

involuta b’dan li ġej

(a) li d-depożitanti jistgħu ikunu intitolati għal kumpens

addizzjonali jekk id-depożitu eliġibbli li jeċċedi EUR

100,000 kollu jew parti minnu ikun jikkwalifika bħala

bilanċ għoli temporanju;

(b) li biex jagħmel talba għal kumpens addizzjonali bħal

dak, id-depożitant għandu jippreżenta lill-Iskema

applikazzjoni bil-miktub u prova li tkun issostni t-

talba tad-depożitant li d-depożitu eliġibbli li jeċċedi

EUR 100,000 kollu jew parti minnu ikun jikkwalifika

bħala bilanċ għoli temporanju;

(ċ) li depożitant jista’ jagħmel aktar minn talba waħda

jekk ikun hemm għadd ta’ avvenimenti li jagħtu lok

għal bilanċi għolja temporanji; u

(d) id-data sa meta dik l-applikazzjoni bil-miktub u prova

li tkun issostni għandhom jiġu ppreżentati lill-Iskema.

(3) L-Iskema għandha tħallas kumpens lil depożitant fir-

rigward ta’ xi bilanċ għoli temporanju kif hemm fir-regolament

10(3) jekk din tkun sodisfatta li jkun hemm rabta biżżejjed bejn

avveniment li jagħti lok għal bilanċ għoli temporanju u l-parti tad-

depożitu eliġibbli li jeċċedi EUR 100,000, filwaqt li tingħata

konsiderazzjoni lil dan kollu li ġej

(a) l-applikazzjoni bil-miktub u l-prova li tiġi ppreżentata

mid-depożitant taħt is-subregolament (2); u

(b) kull informazzjoni oħra li l-Iskema tqis li tkun

rilevanti.

(4) L-Iskema għandha tħallas kumpens lil-depożitant kif hemm

fir-regolament 10(3) fir-rigward ta’ kull bilanċ għoli temporanju li

id-depożitant ikollu ma’ xi membru.

(5) Il-protezzjoni għal bilanċi għolja temporanji taħt ir-

regolament 10(3) għandha ttul għal perjodu ta’ sitt xhur minn meta

jkun l-aktar tardiv

(a) mill-ewwel data meta bilanċ għoli temporanju jiġi

akkreditat fil-kont ta’ depożitanti, jew f’xi kont ieħor

għan-nom ta’ xi persuna; u

(b) l-ewwel data meta l-bilanċ għoli temporanju jsir

legalment trasferibbli lid-depożitant.

(6) L-Iskema għandha, fi żmien tliet xhur mid-data tal-

kumpens, tħallas lid-depożitant somma li tkun tirrappreżenta l-

a m m o n t d o v u t l i d - d e p o ż i t a n t f i r- r i g w a r d t a l - b i l a n ċ g ħ o l i

temporanju sakemm ma tkunx tapplika xi waħda jew aktar mid-

dispożizzjonijiet tas-subregolamenti (7) u (8).

(7) L-Iskema tista’ tiddiferixxi l-pagament fir-rigward tal-

bilanċ għoli temporanju għal perjodu li jaqbeż il-perjodu speċifikat

fis-subregolament (6) meta

(a) jippreżenta l-applikazzjoni bil-miktub u l-prova

msemmija fis-subregolament (2) lill-Iskema aktar

minn xahrejn wara d-data tal-avviż bil-miktub maħruġ

mill-Iskema taħt is-subregolament (2); jew

(b) tinqala’ xi waħda jew aktar miċ-ċirkostanzi stabbiliti

fir-regolament 14.

(8) Jekk l-Iskema tqis li l-applikazzjoni bil-miktub u l-prova

ppreżentata minn depożitant taħt is-subregolament (2) ma tkun turi

ebda rabta biżżejjed bejn xi avveniment li jagħti lok għal bilanċ

għoli temporanju u d-depożitu eliġibbli li jeċċedi EUR 100,000, l-

Iskema għandha tikteb kemm jista’ jkun raġonevolment malajr lil

dak id-depożitant biex

(a) titolbu, matul dak iż-żmien li jista’ jiġi speċifikat mill-

Iskema, kull informazzjoni addizzjonali li l-Iskema

tqis li tkun meħtieġa biex tiddeċiedi dwar it-talba; jew

(b) tikkonferma li l-Iskema tkun stabbiliet li d-depożitu

ma jkunx bilanċ għoli temporanju, filwaqt li tiddikjara

r-raġunijiet tagħha għal dik id-deċiżjoni tagħha u

sommarju ta’ kull dritt għall-konsiderazzjoni mill-ġdid

jew appell.

(1) Il-kumpens għandu jiġi kkalkolat b’referenza għad-

depożiti eliġibbli li jkun miżmum fid-data tal-kumpens.

(2) Il-limitu msemmi fir-regolament 10 japplika għad-depożiti

eliġibbli aggregati li depożitant jagħmel mal-istess membru,

irrispettivament mill-għadd ta’ kontijiet, mill-munita, jew mill-

lokalità fi ħdan iż-ŻEE.

(3) Is-sehem ta’ kull depożitant ta’ kont konġunt għandu jiġi

kkunsidrat separatament fil-kalkolu tal-limiti li hemm provdut

dwarhom fir-regolament 10, ħlief meta jkun japplika s-

subregolament (4). Fin-nuqqas ta’ dispożizzjoni kuntrarja, il-kont

konġunt għandu jiġi diviż ugwalment fost id-depożitanti.

(4) Id-depożiti f’kont li tnejn min-nies jew aktar jkunu

intitolati għalihom bħala membri ta’ sħubija tan-negozju,

assoċjazzjoni, jew grupp ta’ dik ix-xorta, mingħajr personalità

ġuridika, għandhom jiġu aggregati u ittrattati bħal li kieku kienu

magħmula minn depożitant uniku bil-għan li jiġi kalkolat il-limitu

li hemm provdut dwaru fir-regolament 10.

(5) Meta d-depożitant ma jkunx assolutament intitolat għas-

s o m o m m iż m um a f ’k o n t u p e r s un a o ħr a t k u n as s ol u t a m e n t

intitolata għal somom bħal dawk, il-persuna li tkun assolutament

intitolata jkollha jedd għal kumpens fir-rigward tad-depożitu,

sakemm dik il-persuna tkun ġiet identifikata jew tkun identifikabbli

qabel id-data tal-kumpens.

(6) Meta jkun hemm diversi persuni li jkunu assolutament

intitolati, għandu jittieħed kont tas-sehem ta’ kull wieħed minnhom

taħt l-arranġamenti li taħthom jiġi amministrat id-depożitu, meta

jiġi kkalkolat il-limitu li hemm provdut dwaru fir-regolament 10.

(7) M’għandux jittieħed kont tal-passiv tad-depożitant dovut

lill-membru meta jkun qed jiġi kkalkulat l-ammont li għandu jiġi

mħallas lura.

(8) Kull kumpens li jitħallas mill-Iskema għandu jiġi kkalkolat

fuq l-ammonti akkreditati fil-kontijiet tad-depożitant u fuq kull

imgħax li jkun akkumula sa, iżda ma jkunux ġie akkreditati fid-data

tal-kumpens. Dak il-kumpens m’għandux jaqbeż il-limiti

msemmija fir-regolament 10 fl-aggregat tiegħu.

(1) L-Iskema għandha tħallas kumpens fir-rigward ta’

depożiti eliġibbli mingħajr il-ħtieġa li ssir talba lill-Iskema fil-

perjodu ta’ żmien applikabbli u kemm jista’ raġonevolment malajr

wara li

(a) tkun sodisfatta li l-kondizzjonijiet imsemmija fir-

regolament 10(1) jkunu ġew sodisfatti; u

(b) tkun ikkalkolat l-ammont tal-kumpens dovut lid-

depożitant.

(2) Bla ħsara għas-subregolament (3), iż-żmien applikabbli

msemmi fis-subregolament (1) għandu jibda għaddej mill-jum li

jiġi wara d-data tal-kumpens kif ġej

(a) għoxrin jum tax-xogħol sal-31 ta’ Diċembru 2018;

(b) ħmistax-il jum tax-xogħol mill-1 ta’ Jannar 2019 sal-

31 ta’ Diċembru 2020;

(ċ) għaxart ijiem tax-xogħol mill-1 ta’ Jannar 2021 u sal-

31 ta’ Diċembru 2023;

(d) sebat ijiem tax-xogħol mill-1 ta’ Jannar 2024.

(3) Il-perjodu applikabbli għandu jkun ta’ tliet xhur li jibdew

għaddejin mill-jum wara d-data tal-kumpens f ’dawk il-każijiet

meta jkun japplika ir-regolament 12(5) u (6) jew meta l-Iskema

tkun tassew tal-fehma b’mod raġonevoli li jista’ japplika r-

regolament 12(5) u (6).

(4) Matul il-perjodu ta’ transizzjoni sal-31 Diċembru 2023,

meta l-Iskema ma tkunx tista’ tħallas kumpens fi żmien sebat ijiem

tax-xogħol, l-Iskema għandha tiżgura li d-depożitanti jkollhom

aċċess għal ammont, ekwivalenti għal tliet darbiet il-paga minima

sħiħa fil-ġimgħa fid-data tal-kumpens, biex ikopru l-ispejjeż għall-

għoli tal-ħajja, fi żmien ħamest ijiem tax-xogħol minnn meta ssir

talba mid-depożitant. L-Iskema għandha tkun tagħti biss aċċess

għall-ammont imsemmi f ’dan is-subregolament, fi żmien ħamest

(5) ijiem tax-xogħol, fuq il-bażi ta’ informazzjoni provduta mill-

membru. Dak l-ammont għandu jitnaqqas minn dak il-kumpens li

jista’ jiġi mħallas.

(1) L-Iskema tista’ tiddifferixxi l-pagament tal-kumpens

għal wara ż-żmien stabbilit fir-regolament 13 meta

(a) id-depożitu jkun kont mhux attiv;

(b) l-ammont li għandu jitħallas lura jitqies parti minn

bilanċ għoli temporanju; jew

(ċ) l-ammont li għandu jitħallas lura għandu jitħallas mid-

DGS ta’ Stat Membru ospitanti kif hemm fir-

regolament 35(1).

(2) Minkejja d-disposizzjonijiet tas-subregolament (1), l-

Iskema m’għandhiex tħallas kumpens fir-rigward ta’ depożitu li

jkun kont wieqaf meta l-valur tad-depożitu ikun inqas mill-ispejjeż

amministrattivi li kieku jintefqu mill-Iskema meta tkun qegħda

tħallas lura.

(3) Minkejja d-disposizzjonijiet tas-subregolament (1), l-

Iskema tista’ tissospendi kull pagament b’riferenza għal xi kont li

dwaru depożitant jew xi persuna li tkun intitolata jew ikollha

interess f’somom miżmuma fih tkun ġiet akkużata b’reat li joriġina

minn jew li jkollu x’jaqsam ma’ money laundering, sakemm

tingħata sentenza mill-Qorti.

(1) Kull pagament lura li jsir bħala kumpens għandu jsir

bl-Euro.

(2) Meta d-depożiti jinżammu f’munita li ma tkunx l-Euro, ir-

rata tal-kambju użata għandha tkun ir-rata ta’ referenza tal-kambju

applikabbli għall-Euro kkwotata mill-Bank Ċentrali Ewropew fid-

data tal-kumpens.

(1) Mingħajr preġudizzju għad-drittijiet li l-Iskema jista’

jkollha bil-liġi, l-Iskema għandha, meta tħallas kumpens taħt dawn

ir-regolamenti, minnufih u awtomatikament tiġi surrogata fid-

drittijiet kollha tad-depożitant, sa l-ammont tal-kumpens imħallas,

paragunat mal-membru u, jew xi terza parti meta id-depożiti jew

dak li joħroġ minnhom ma jkunux disponibbli għad-depożitant.

(2) Meta jsir il-pagament ta’ kumpens taħt dawn ir-

regolamenti, l-Iskema għandha tiddeċiedi fid-diskrezzjoni assoluta

tagħha liema rkupri huma x’aktarx li jkunu kemm raġonevolment

possibbli kemm ta’ spiża effettiva li jsiru.

(3) Meta l-Iskema tagħmel pagamenti fil-kuntest ta’ proċeduri

ta’ riżoluzzjoni, inkluża l-applikazzjoni ta’ għodda ta’ riżoluzzjoni

jew l-eżerċizzju ta’ poteri ta’ riżoluzzjoni kif hemm fir-regolament

33, l-Iskema għandha tagħmel talba kontra l-istituzzjoni ta’ kreditu

rilevanti għal ammont ugwali għall-pagamenti tagħha. Dik it-talba

għandha tiggradwa fl-istess livell bħal depożiti koperti taħt il-liġi

ta’ Malta li tirregola l-proċedimenti ta’ falliment normali.

Depożitanti li d-depożiti tagħhom ma jkunux tħallsu jew

ġew rikonoxxuti mill-Iskema fiż-żmien stipulat fir-regolament 13,

għandhom jitilfu d-dritt tagħhom li jitolbu ħlas lura tad-depożitu

tagħhom wara l-iskadenza ta’ terminu perentorju ta’ sentejn mid-

data tal-kumpens.

(1) Meta depożitant iħoss ruħu aggravat b’deċiżjoni tal-

Iskema dwaru jista’ jitlob lill-Iskema tikkunsidra mill-ġdid id-

deċiżjoni tagħha. L-Iskema għandha fi żmien xahrejn minn dik it-

talba tipprovdi lil dak id-depożitant b’deċiżjoni raġunata. Dan kollu

għandu jsir mingħajr preġudizzju għad-dritt li depożitant ikollu li

jagħmel xi talba li jista’ jkollu kontra l-Iskema quddiem xi qorti

kompetenti jew tribunal ta’ ġurisdizzjoni ċivili.

(2) L-Iskema għandha, jekk tiġi hekk mitluba minn xi persuna

li tkun milquta b’deċiżjoni tal-Iskema, tagħti r-raġunijiet tagħha lil

dik il-persuna għal kull deċiżjoni bħal dik.

TAQSIMA IV

Ħtiġiet ta’ Informazzjoni

(1) Istituzzjonijiet ta’ kreditu għandhom jagħmlu

disponibbli lil depożitanti attwali u dawk prospettivi l-

informazzjoni meħtieġa għall-identifikazzjoni tal-Iskema li tagħha

l-istituzzjoni u l-friegħi tagħha jkunu membri fi ħdan l-Unjoni

Ewropea. L-istituzzjonijiet ta’ kreditu għandhom jinfurmaw lid-

depożitanti attwali u dawk prospettivi bl-esklużjonijiet applikabbli

mill-protezzjoni taħt dawn ir-regolamenti jew taħt id-Direttiva.

(2) Qabel ma jikkonkludu kuntratt dwar l-għemil ta’ depożitu,

il-membri għandhom jipprovdu lid-depożitanti bl-informazzjoni

msemm ija fi s-su bregol am ent (1). Id-depożit an ti għ an dhom

jirrikonoxxu li jkunu rċevew dik l-informazzjoni. Għandu jintuża l-

mudell stipulat fl-Iskeda għal dak l-iskop.

(3) Għandha tiġi provduta mill-membri lid-depożitanti

konferma li d-depożiti huma depożiti eliġibbli, u dan fuq id-

dikjarazzjonijiet ta’ kont tagħhom. Dawk id-dikjarazzjonijiet ta’

kontijiet għandhom ikunu jinkludu referenza għall-fuljett ta’

informazzjoni murija fl-Iskeda. Is-sit elettroniku tal-Iskema għandu

jiġi indikati fuq il-fuljett ta’ informazzjoni. Il-fuljett ta’

informazzjoni muri fl-Iskeda għandu jngħata lid-depożitanti mill-

anqas darba fis-sena.

(4) L-informazzjoni prevista fis-subregolament (1) għandha

ssir disponibbli bil-mod preskritt b’dawn ir-regolamenti fil-lingwa

li tkun ġiet miftiehma bejn id-depożitant u l-membru meta jkun

infetaħ il-kont jew f’xi ilsien uffiċjali ta’ Malta.

(5) L-istituzzjonijiet ta’ kreditu għandhom jillimitaw ruħhom

fir-reklamar milli jużaw l-informazzjoni msemmija fis-

subregolamenti (1), (2) u (3) għal referenza fattwali tad-DGS li

jkun qed jiggarantixxi l-prodott li r-reklam ikun jirreferi għalih u

kull informazzjoni addizzjonali meħtieġa bil-liġi. Dik l-

informazzjoni tista’ tkun testendi għal deskrizzjoni fattwali tal-

funzjonament tad-DGS iżda m’għandux ikun fiha referenza għal

kopertura ta’ depożiti mingħajr limitu.

(6) Fil-każ ta’ amalgamazzjoni, konverżjoni ta’ sussidjarji fi

friegħi jew operazzjonijiet simili, l-istituzzjoni ta’ kreditu li

tgħaddi minn dik l-operazzjoni għandha tinforma lid-depożitanti

tagħha b’dik l-operazzjoni mill-inqas xahar qabel ma l-operazzjoni

tibda sseħħ legalment kemm-il darba l-awtorità kompetenti ma

tippermettix li jkun hemm żmien iqsar għat-temm tagħha fuq il-

bażi ta’ segretezza kummerċjali jew stabbiltà finanzjarja.

(7) L-istituzzjoni ta’ kreditu msemmija fis-subregolament (6)

għandha tagħti lid-depożitanti tagħha perjodu ta’ tliet xhur wara n-

notifika tal-amalgamazzjoni jew il-konverżjoni jew operazzjoni

simili biex tirtira jew tittrasferixxi lil xi istituzzjoni ta’ kreditu

oħra, mingħajr ma teħel ebda penalità, id-depożiti eliġibbli

tagħhom inkluż kull imgħax akkumulat u benefiċċju safejn dawn

jeċċedu l-livell ta’ kopertura kif hemm fir-regolament 28 fil-waqt

tal-operazzjoni.

(8) Jekk istituzzjoni ta’ kreditu tirtira jew tiġi eskluża mid-

DGS li tkun membru tagħha, l-istituzzjoni ta’ kreditu għandha

tinforma lid-depożitanti fi żmien xahar minn dak l-irtirar jew dik l-

esklużjoni.

(9) Jekk depożitant juża l-kummerċ bankarju bl-internet, l-

informazzjoni meħtieġa li tiġi żvelata mill-istituzzjoni ta’ kreditu

kif hawn f ’dawn ir-regolament jistgħu jiġu kkomunikati b’mezzi

elettroniċi. Meta d-depożitant ikun hekk jeħtieġ, din għandha tiġi

kkomunikata bil-miktub.

(10) L-awtorità kompetenti tista’ minn żmien għal żmien, u dan

b’żieda, tispeċifika kull informazzjoni oħra bħal dik li l-membri

għandhom jipprovdu lid-depożitanti fir-rigward tal-Iskema u tal-

operazzjonijiet tagħha, kif ukoll il-mod u l-forma li biha għandha

tiġi provduta dik l-informazzjoni.

(11) Is-sit elettroniku tal-Iskema għandu jkun fih l-

informazzjoni meħtieġa għad-depożitanti, b’mod partikolari

informazzjoni dwar id-dispożizzjonijiet li għandhom x’jaqsmu

mal-proċess għal, u l-kondizzjonijiet ta’, garanzija ta’ depożitu kif

hemm previst taħt dawn ir-regolamenti.

(1) Il-membri għandhom jiżguraw li jimmarkaw -

(a) depożiti eliġibbli, li ma jkunux dawk speċifikati fil-

paragrafi (b) u (ċ);

(b) depożiti eliġibbli li jżommu xi fondi li l-depożitant ma

jkollu assolutament ebda jedd għalihom; u;

(ċ) depożiti li ma jkunux attivi;

b’mod li jkun jippermetti identifikazzjoni immedjata ta’ dawk id-

depożiti.

(2) L-informazzjoni meħtieġa bis-subregolament (1) għandha

tinżamm b’mod elettroniku.

(3) Membru għandu jipprepara u jipprovdi lill-Iskema l-wiri ta’

fajl ta’ klijent wieħed u ta’ fajl differit għal kull depożitant li jkollu

depożitu eliġibbli

(a) fi żmien erbgħa u għoxrin siegħa minn meta d-depożiti

rilevanti tiegħu jsiru depożiti mhux disponibbli;

(b) fi żmien erbgħa u għoxrin siegħa minn meta ssir talba

mill-Iskema;

(ċ) fi żmien tlett xhur minn meta jiġu aċċettati l-ewwel

depożiti; u

(d) fi żmien tliet xhur minn meta ssir bidla materjali fis-

sistema SCV tal-membru.

(4) Jekk depożitant ma jkollux kontijiet jew bilanċi li jkunu

meħtieġa li jiġu inklużi fil-wiri ta’ fajl ta’ klijent wieħed u, jew fil-

fajl differit, il-membru għandu jipprovdi konferma ta’ dan lill-

Iskema.

(5) L-informazzjoni meħtieġa li tiġi provduta fil-wiri ta’ fajl ta’

klijent wieħed u ta’ fajl differit konformement mas-subregolament

(3) għandha tkun tinkludi dik l-informazzjoni u għandu jkollha dak

il-format u tilħaq dawk il-ħtiġiet tekniċi hekk kif jiġu pubblikati

minn żmien għal żmien mill-Iskema b’avviż fuq is-sit elettroniku

tagħha. Il-pubblikazzjoni ta’ dak l-avviż fuq is-sit elettroniku tal-

Iskema għandu jkun jorbot lill-membri.

(1) Membru għandu jipprovdi rapport ta’ SCV lill-Iskema

(a) fi żmien tliet xhur minn meta jiġu aċċettati l-ewwel

depożiti;

(b) fi żmien tliet xhur minn bidla materjali fis-sistema ta’

SCV ta’ membru;

(ċ) ta’ kull sena sa mhux aktar tard mit-30 ta’ Ġunju ta’

kull sena kalendarja;

(d) minnufih malli ssir talba mill-Iskema.

(2) L-informazzjoni meħtieġa biex tiġi provduta f’rapport dwar

SCV kif hemm fis-subregolament (1) għandha tkun tinkludi

informazzjoni bħal dik u għandu jkollha dak il-format u tilħaq

dawk il-ħtiġiet tekniċi li jiġu pubblikati minn żmien għal żmien

mill-Iskema b’avviż fuq il-sit elettroniku tagħha. Il-pubblikazzjoni

ta’ dak l-avviż fuq is-sit elettroniku tal-Iskema għandu jkun jorbot

fuq il-membri.

(3) Kull membru għandu jkollu pjan ta’ kontinġenza effettiv

hekk li, fil-każ ta’ dekadenza, jibqa’ jżomm riżorsi adegwati biex

jipprovdi lill-Iskema b’kull informazzjoni rilevanti meħtieġa

minnha biex iħallas lura lid-depożitanti.

(1) B’żieda mal-ħtiġiet kif hemm fir-regolamenti 20 u 21,

il-membri għandhom jiżguraw li jkollhom sistemi ta’ informazzjoni

elettronika effettivi għas-sodisfazzjon tal-Iskema biex ikunu

jistgħu jipprovdu lill-Iskema, f ’kull waqt u malli din issaqsi

għaliha, kull informazzjoni rilevanti għall-kisba tal-għan u l-

funzjonijiet tal-Iskema jew għall-amministrazzjoni kif imiss tal-

Iskema, inkluż il-ħlas lura ta’ depożitanti u skopijiet ta’ verifika.

(2) L-Iskema tista’ teħtieġ lill-membri, sew direttament sew

permezz tal-awtorità kompetenti, jippreparaw u jipprovdu l-

informazzjoni msemmija fis-subregolament (1), f’dak il-perjodu li

jista’ jiġi stabbilit bl-Iskema. It-talba tista’ tiġi indirizzata lill-

membru jew lil xi direttur tiegħu jew lil dawk l-uffiċjali li jkollhom

f’idejhom dik l-informazzjoni.

(3) Membru għandu, b’avviż lill-Iskema sat-tmiem ta’ Jannar

ta’ kull sena jipprovdi stqarrija tad-depożiti koperti totali tiegħu

(esklużi l-bilanċi għolja temporanji), fit-tmiem tas-sena finanzjarja

preċedenti bil-għan li tiġi determinata il-kontribuzzjoni tal-membru

għas-sena finanzjarja relevanti.

(4) Jekk membru ma jagħtix avviż tad-dikjarazzjoni msemmija

fil-paragrafu preċedenti sad-data meta din tkun dovuta kif jista’

jkun hemm f’xi ħtiġijiet preskritti

(a) il-membru għandu jħallas dritt amministrattiv ta’

ħames mitt euro (€500) lill-Iskema; u

(b) il-kontribuzzjoni tal-membru għandha tiġi kalkulata

billi jintuża (meta jkun hekk rilevanti) il-prospett tad-

depożiti koperti totali tal-membru (bl-esklużjoni ta’

bilanċi għolja temporanji) applikabbli għall-perjodu

preċedenti, immultiplikati bil-fattur ta’ 1.20 jew fuq

kull bażi raġonevoli oħra, billi jsiru dawk l-

aġġustamenti li jkunu jidhru xierqa f’imposti

sussegwenti

ġaladarba

l-membru

jipprovdi

dikjarazzjoni korretta kif meħtieġ b’dawn ir-

regolamenti.

(5) Jekk membru ma jkunx konformi mal-obbligi li jkun dovut

josserva bħala membru tal-Iskema, inklużi dawk kif hemm fir-

regolamenti 20, 21 u f ’dan ir-regolament, l-awtorità kompetenti

għandha tiġi notifikata minnufih u, b’koperazzjoni mal-Iskema,

għandha malajr tieħu l-miżuri kollha xierqa biex tiżgura li l-

membru jikkonforma ruħu mal-obbligi li jkollu.

(6) Jekk il-miżuri meħuda taħt dawn ir-regolamenti jonqsu

milli jiżguraw konformità mill-membri, l-Iskema tista’, bla ħsara

għall-kunsens espress tal-awtorità kompetenti, tagħti mhux anqas

minn avviż ta’ xahar dwar l-intenzjoni tagħha li teskludi lill-

membru minn sħubija fl-Iskema. Depożiti magħmula qabel l-

iskadenza ta’ dak il-perjodu ta’ avviż għandhom jibqgħu koperti

għalkollox mill-Iskema. Jekk, malli jiskadi dak il-perjodu ta’ avviż,

il-membru ma jkunx konformi mal-obbligi li jkollu, l-Iskema

għandha teskludih mis-sħubija.

(7) Id-depożiti miżmuma fid-data li fiha l-membru jiġi eskluż

mis-sħubija tal-Iskema għandhom jibqgħu jiġu koperti mill-Iskema.

TAQSIMA V

Finanzjament

(1) L-awtorità kompetenti għandha tiżgura li

(a) l-Iskema jkollha japplikaw sistemi adegwati li

jiddeterminaw ir-responsabbiltajiet potenzjali tagħha;

u

(b) il-mezzi finanzjarji disponibbli tal-Iskema jkunu

proporzjonali għal kull passiv bħal dak.

(2)

Il-mezzi finanzjarji disponibbli tal-Iskema għandhom

jilħqu livell ta’ mira mid-depożiti koperti tal-membri tagħha kif ġej

(a) 1.10% mill-1 ta’ Jannar 2022 sal-31 ta’ Diċembru

2022;

(b) 1.20% mill-1 ta’ Jannar 2023 sal-31 ta’ Diċembru

2023;

(ċ) 1.30% mill-1 ta’ Jannar 2024 sal-31 ta’ Diċembru

2024 u għal kull sena sussegwenti;

jew dak l-ogħla livell ta’ mira li jista’ jiġi stabbilit b’regoli bankarji

skont ir-regolament 42

Iżda

(a) meta l-kapaċità ta’ finanzjament tonqos minn dak il-

livell ta’ mira, il-pagament ta’ kontribuzzjonijiet

għandu jerġa’ jibda mill-inqas sa meta l-livell ta’ mira

jerġa’ jintlaħaq mill-ġdid;

(b) jekk il-mezzi finanzjarji disponibbli jkunu ġew

mnaqqsa għal inqas minn żewġ terzi ta’ dak il-livell ta’

mira, il-kontribuzzjoni regolari għandha tiġi stabbilita

f’livell li jkun jippermetti li dak il-livell ta’ mira

jintlaħaq fi żmien sitt snin;

(ċ) jekk il-mezzi finanzjarji disponibbli jkunu ġew

mnaqqsa għal livell li jkun iżjed minn żewġ terzi ta’

dak il-livell ta’ mira, il-kontribuzzjoni regolari

għandha tiġi stabbilita f’livell li jkun jippermetti li dak

il-livell ta’ mira jintlaħaq fi żmien erba’ snin;

(d) bla ħsara għad-dispożizzjoni prevalenti tar-regolament

23(3), iżda minkejja li l-akbar porzjon ta’

Kontribuzzjoni ta’ Kumpens li b’referenza għas-sena

finanzjarja relattiva jista’ jiġi provdut bħala l-impenn

ta’ pagament kif hemm fir-regolament 25(8), meta l-

mezzi finanzjarji disponibbli tal-Iskema jkunu tnaqqsu

minħabba f’illi l-Iskema tkun ħallset kumpens lil

depożitanti taħt it-Taqsima III ta’ dawn ir-regolamenti,

l-Iskema tista’ tipprovdi fid-diskrezzjoni assoluta

tagħha li l-pagament ta’ kontribuzzjonijiet minn

membri taħt il-paragrafi (a), (b) u, jew (ċ), kif ikun il-

każ, jiġi provdut kollu kemm hu jew biss f’parti minnu

lill-Iskema permezz ta’ impenn ta’ pagament;

(e) il-pagament ta’ kontribuzzjonijiet taħt il-paragrafu (a) u

l-paragrafu (b) u, jew il-paragrafu (ċ) għandu jiġi

stabbilit mill-Iskema kif hemm fir-regolament 25(3).

(f)

il-kontribuzzjoni regolari għandha tieħu kont dovut

tal-fażi taċ-ċiklu tan-negozju, u tal-impatt li jista’

jkollhom il-kontribuzzjonijiet pro-ċikliċi meta jiġu

stabbiliti l-kontribuzzjonijiet annwali fil-kuntest ta’

dawn ir-regolamenti.

(3) Il-mezzi finanzjarji disponibbli li għandhom jittieħdu

f’konsiderazzjoni sabiex jintlaħaq il-livell ta’ mira jistgħu jinkludu

l-impenji ta’ pagament. Is-sehem totali tal-impenji ta’ pagament ma

għandux jeċċedi 30% tal-ammont totali tal-mezzi finanzjarji

disponibbli miġbura skont dan ir-regolament

Iżda l-awtorità kompetenti tista’ toħroġ direttivi bankarji

kif hemm fir-regolament 42 dwar il-pagament ta’ impenji ta’

pagament, filwaqt li jittieħed kont ta’ linji gwida maħruġa mill-

Awtorità Bankarja Ewropea.

(4) Il-livell ta’ mira msemmi fis-subregolament (2) m’għandux

jinkludi l-kontribuzzjonijiet għal arranġamenti ta’ finanzjament tar-

riżoluzzjoni taħt id-Direttiva 2014/59/UE, inklużi mezzi finanzjarji

disponibbli li jittieħdu f’konsiderazzjoni sabiex jintlaħaq il-livell

ta’ mira tar-riżoluzzjoni tal-finanzjament arranġamenti taħt id-

Direttiva 2014/59/UE.

(5) L-Iskema għandha tiżgura li jkollha operattivi arranġamenti

ta’ fondi alternattivi adegwati biex jippermettulha li tikseb fondi

għal żmien qasir biex jintlaħqu l-talbiet kontra l-Iskema.

(6) L-Iskema għandha, mill-31 ta’ Marzu ta’ kull sena,

tinforma lill-Awtorità Bankarja Ewropea dwar l-ammont ta’

depożiti koperti f ’Malta u l-ammont tal-mezzi finanzjarji

disponibbli tal-Iskema fil-31 Diċembru tas-sena preċedenti.

L-Iskema tista’ f’kull waqt teħtieġ lill-membri jħallsu

dawn il-kontribuzzjonijiet li ġejjin

(a) Kontribuzzjoni għall-Kumpens;

(b) Spejjeż amministrattivi dwar il-Kontribuzzjoni.

(1) Bla ħsara għar-regolament 23(2), l-Iskema tista’ tkun

teħtieġ li membri jħallsu kontribuzzjoni għall-kumpens mill-inqas

darba f ’kull sena finanzjarja, li tibda għaddejja mis-sena

finanzjarja li ttemm fil-31 ta’ Diċembru 2016. Il-kontribuzzjoni

għall-kumpens għandha tiġi allokata għall-mezzi finanzjarji

disponibbli.

(2) Jekk il-mezzi finanzjarji disponibbli tal-Iskema ma jkunux

biżżejjed biex iħallsu lura lid-depożitanti meta d-depożiti ma

jibqgħux disponibbli, l-Iskema għandha titlob lill-membri jħallsu

kontribuzzjoni straordinarja għall-kumpens ta’ mhux aktar minn

0.5% mid-depożiti koperti tagħhom għal kull sena finanzjarja. L-

Iskema tista’, f’ċirkostanzi eċċezzjonali u bil-kunsens tal-awtorità

kompetenti, teħtieġ kontribuzzjonijiet ogħla.

(3) Il-kontribuzzjoni

għall-kumpens

(inkluża

kull

kontribuzzjoni straordinarja għall-kumpens) għandha tkun ibbażata

f uq l -a m m on t ta ’ d e po ż it i ko perti (esklużi l -bilanċi g ħolja

temporanji) ta’ kull membru u l-grad ta’ riskju li jerfa’ l-membru

rispettiv

Iżda membru jista’ jkun meħtieġ li jħallas kontribuzzjoni

minima taħt kontribuzzjoni għall-kumpens irrispettivament mill-

ammont ta’ depożiti kopert li jkollu jew mill-grad tar-riskju tiegħu.

Biex jiġi evitat kull dubju u salvi d-disposizzjonijiet ta’

dawn ir-regolamenti, il-kontribuzzjoni annwali għall-kumpens

għandha tiġi stabbilita mill-Iskema għal kull membru wara li

jitqiesu

(a) il-perċentwali applikabbli mid-depożiti koperti tal-

membri tagħha kif speċifikat taħt ir-regolament 23(2);

(b) id-depożiti koperti ta’ kull membru fl-aħħar tas-sena

immedjatament preċedenti għas-sena finanzjarja

relevanti;

(ċ) il-grad ta’ riskju li jerfa’ kull membru b’referenza għal

piż ta’ riskju aggregat kif hemm fir-regolament 25(5)

għas-sena immedjatament preċedenti għas-sena

finanzjarja relevanti; u

(d) koeffiċjent aġġustat kif hemm fir-regolament 25(6).

(4) Bla ħsara għad-disposizzjonijiet tas-subregolament (3), l-

awtorità kompetenti għandha permezz ta’ regoli bankarji

tistabbilixxi

(a) metodu (hawn aktar ’il quddiem imsejjaħ "metodu

bbażat fuq ir-riskju") biex jiġi stabbilit il-grad ta’

riskju li jintrefa’ mill-membri;

(b) metodu (hawn aktar ’il quddiem imsejjaħ il-"metodu

ta’ kontribuzzjoni għall-kumpens") biex jiġi stabbilit l-

ammont tal-kontribuzzjoni għall-kumpens dovut minn

kull membru għal kull sena finanzjarja.

Iżda

(i)

l-awtorità kompetenti tista’ tirrevedi jew

temenda metodu li jkun ibbażat fuq ir-riskju jew

metodu ta’ kontribuzzjoni għall-kumpens,

filwaqt li jittieħed kont fejn ikun adatt ta’ kull

linja gwida li tista’ tinħareġ mill-Awtorità

Bankarja Ewropea;

(ii) l-awtorità kompetenti għandha tinforma lill-

Awtorità Bankarja Ewropea dwar il-metodu

bbażat fuq ir-riskju.

(5) L-awtorità kompetenti għandha tistabbilixxi għall-inqas

darba f ’kull sena finanzjarja l-Piż Aggregat ta’ Riskju għal kull

membru (ARWi) skond il-metodu bbażat fuq ir-riskju għall-fini li

tiġi stabbilita l-kontribuzzjoni għall-kumpens dwar is-sena

finanzjarja relevanti.

(6) L-awtorità kompetenti għandha tistabbilixxi għall-inqas

darba f ’kull sena finanzjarja l-koeffiċjent ta’ aġġustament (μ)

għall-membri kollha bil-għan li jintlaħaq il-livell ta’ mira kull meta

l-kontribuzzjonijiet ta’ riskju-aġġustat totali jkunu għolja wisq jew

baxxi wisq għall-fini li tiġi determinata l-kontribuzzjoni għall-

kumpens dwar is-sena finanzjarja relevanti.

(7) Kull membru għandu jipprovdi lill-awtorità kompetenti l-

informazzjoni meħtieġa biex jiġi determinat il-Piż Aggregat ta’

Riskju ta’ dak il-membru;

(8) Bla ħsara għad-dispożizzjonijiet tar-regolament 23(3), l-

Iskema tista’ tipprovdi li porzjon minn Kontribuzzjoni għall-Kumpens

jiġi provdut lill-Iskema permezz ta’ impenn ta’ pagament.

(9) L-awtorità kompetenti tista’ toħroġ direttivi bankarji sabiex

tirrevedi u temenda id-data effettiva jew il-perċentwalii indikati

fis-subregolament (8).

(10) Kull impenn ta’ pagament għandu jsir pagabbli lill-Iskema

meta l-Iskema titlob li dan isir. L-impenn ta’ pagament ta’ xi

membru għandu jsir ukoll pagabbli lill-Iskema kull meta dak il-

membru itemm li jkollu liċenza f’Malta għal xi raġuni tkun xi tkun

Iżda meta membru jtemm li jkollu liċenza minħabba

f’amalgamazzjoni ma’ jew akkwiżizzjoni minn xi membru ieħor, l-

Iskema tista’, fid-diskrezzjoni tagħha, jew

(a) titlob li jsir il-ħlas tal-impenn ta’ pagament; jew

(b) teħtieġ li l-impenn ta’ pagament jiġi trasferit lill-

membru l-ieħor li jkun akkwista lill-membru li jkun

temm li jkollu liċenza f’Malta jew li miegħu dan l-

aħħar membru jkun amalgama.

(11) Id-dettalji fuq it-tip ta’ assi li jistgħu jiġu aċċettati bħala

kollateral għall-Impenji ta’ Pagament u dwar il-modalitajiet użati

biex jiġu implimentati dawn l-Impenji ta’ Pagament jistgħu jiġu

speċifikati bir-regoli bankarji.

(12) Il-valur ta’ assi li jikkomprendu l-kollateral għall-Impenji

ta’ Pagament għandu jkun il-valur tas-suq ta’ dawk l-assi, stabbiliti

kif hemm f’dawk ir-regoli ta’ skont ("Valuation Haircuts") kif jiġi

stabbilit b’regoli bankarji.

(13) L-assi li jikkomprendu l-kollateral għall-Impenji ta’

Pagament għandhom jiġu denominati bl-Euro irrispettivament mill-

munita tad-depożiti koperti.

(14) Membru ma jistax jaqleb minn assi wieħed li jkun jinkludi

kollateral għall-Impenji ta’ Pagament għal xi assi ieħor, mingħajr

il-kunsens tal-Iskema mogħti bil-miktub u bil-quddiem.

(15) Jista’ membru, bl-approvazzjoni minn qabel tal-Iskema,

iħallas l-ammont ekwivalenti tal-Impenji ta’ Pagament direttament

mal-Iskema, u f’dak il-każ dak il-pagament għandu jkun minħabba

fir-responsabbiltà tal-membru taħt is-subregolament (8), u d-

disposizzjonijiet ta’ dan ir-regolament għandhom, meta jkun

japplika, ikunu japplikaw ukoll għal dak il-pagament. Ebda mgħax

m’għandu jitħallas mill-Iskema lill-membru fir-rigward ta’ dak il-

pagament. L-Iskema tista’, fid-diskrezzjoni assoluta tagħha, titlob

lill-membru biex jissostitwixxu dak bl-Impenji ta’ Pagament dovuti

taħt dawn ir-regolamenti.

(1) L-Iskema tista’ timponi kontribuzzjoni għal spejjeż

amministrattivi fuq il-membri matul is-sena finanzjarja jekk ikollha

raġunijiet sodi għaliex taħseb li l-fondi li jkollha disponibbli għal

spejjeż amministrattivi matul dik is-sena finanzjarja ma jkunux,

jew mhux se jkunu, biżżejjed.

(2) L-Iskema għandha talloka kull ammont miġbur mill-

kontribuzzjoni għal spejjeż amministrattivi għall-pagament ta’

spejjeż amministrattivi, u m’għandhiex tittratta lil dawk il-fondi

bħallikieku kienu mezzi finanzjarji disponibbli tal-Iskema.

(3) L-awtorità kompetenti għandha b’regoli bankarji

tistabbilixxi metodu (minn hawn issa ’il quddiem imsejjaħ il-

"Metodu ta’ Kontribuzzjoni għal Spejjeż Amministrattivi") sabiex

tistabbilixxi l-ammont ta’ Kontribuzzjoni ta’ Spejjeż għall-

Amministrazzjoni dovuti minn kull membru f’xi sena finanzjarja

Iżda l-Awtorità Kompetenti tista’ tirrevedi jew temenda

kull Metodu ta’ Kontribuzzjoni għal Spejjeż Amministrattivi.

(4) Minkejja kull disposizzjoni oħra f’dawn ir-regolamenti,

membru li jsir membru tal-Iskema matul is-sena finanzjarja,

għandu għas-sena finanzjarja li matulha jkun sar membru jħallas

hemm Kontribuzzjoni Inizjali għal Spejjeż Amministrattivi li

tammonta għal ħamsa u tletin elf euro (€35,000).

(1) L-Iskema għandha tistma mill-inqas darba f’kull sena

finanzjarja l-kontribuzzjoni għall-kumpens għal kull membru dwar

is-sena finanzjarja rilevanti kif hemm fil-metodu ta’ kontribuzzjoni

għall-kumpens.

(2) L-Iskema għandha tavża lil kull membru dwar l-ammont

tal-kontribuzzjoni għall-kumpens tiegħu, il-fattur ta’ riskju

stabbilit fid-determinazzjoni ta’ dik il-kontribuzzjoni u l-ammont

tal-Kontribuzzjoni għal Spejjeż Amministrattivi fir-rigward ta’ kull

sena finanzjarja relevanti. L-obbligu tal-membru lejn l-Iskema fir-

rigward tal-kontribuzzjoni għall-kumpens tiegħu għal xi sena

finanzjarja rilevanti għandu jitqies li jibda jseħħ fid-data ta’ dak l-

avviż.

(3) Membru li jħoss ruħu aggravat b’xi stima bħal dik jista’

jitlob lill-Iskema biex tqis dik l-istima mill-ġdid.

(4) Talba għal konsiderazzjoni mill-ġdid għandha ssir fi żmien

tletin jum minn notifika tal-istima u ma tistax issir flimkien mal-

appell.

(5) It-talba għal konsiderazzjoni mill-ġdid għandha tinkludi

dokument bil-miktub li jkun jiddikjara b’mod preċiż r-raġunijiet

għal dik it-talba, u l-mod li bih iqis li l-istima għandha tiġi

emendata.

(6) Meta ssirilha talba għal konsiderazzjoni mill-ġdid, l-Iskema

tista’ teħtieġ lil xi membru li jkun qed jagħmel it-talba iforniha

b’dik l-informazzjoni li l-Iskema tista’ tqis li tkun meħtieġa.

(7) Fil-każ li l-Iskema taderixxi mat-talba għal konsiderazzjoni

mill-ġdid jew inkella xort’oħra l-membru jaqbel mal-Iskema dwar

l-ammont tal-kontribuzzjoni jew ma’ xi fatturi ta’ riskju rilevanti,

l-istima għandha tiġi emendata kif ikun adatt, u għandhom jiġu

notifikati lil dak il-membru avviż tal-ammont tal-kontribuzzjoni li

għandha titħallas jew il-fatturi ta’ riskju stabbiliti.

(8) Jekk ma jintlaħaq ebda ftehim, l-Iskema għandha tistma l-

ammont tal-kontribuzzjoni li għandha titħallas u kull fattur

rilevanti ta’ riskju bil-miktub, u tagħti l-avviż tiegħu lill-membru

Iżda dejjem jibqa’ l-fatt li fil-każ ta’ xi membru li jkun

applika għall-konsiderazzjoni mill-ġdid, fin-nuqqas ta’ qbil mal-

Iskema fuq dik l-istima, id-dritt ta’ appell li jkollu kontra l-istima,

għandu jibqa’ mhux mittiefes.

(9) Membru jista’ ma jappellax kontra stima tal-kontribuzzjoni

jew xi fattur ta’ riskju rilevanti kemm-il darba ma jkunx qabel

eżawrixxa ewwel d-dritt tiegħu għall-konsiderazzjoni mill-ġdid ta’

dik l-istima.

(10) Jista’ jiġi ppreżentat appell kontra l-Iskema li jsir lit-

Tribunal għas-Servizzi Finanzjarji kif hemm fl-artikolu 10 tal-Att

dwar il-Kummerċ Bankarju, fi żmien tletin ġurnata minn meta jiġi

notifikat l-avviż lill-membru dwar l-avviż tal-istima msemmija fis-

subregolament (8). Dawk il-każijiet fejn l-appell ikun qiegħed

jikkontesta l-fattur ta’ riskju stabbilit fid-determinazzjoni tal-

kontribuzzjoni, l-appell għandu jiġi ppreżentat wkoll kontra l-

a w to r i t à k o m p e t e n t i . I t - ta l b a g ħa l ap p e l l għ a nd h a t i n k lu d i

dokument bil-miktub fejn jiġu dikjarati b’mod preċiż ir-raġunijiet

għal dik it-talba, u l-mod kif ikun jidhirlu li l-istima għandha tiġi

emendata. It-Tribunal għas-Servizzi Finanzjarji għandu jkollu is-

setgħat kollha mogħtija lilu bl-artikolu 21 tal-Att dwar l-Awtorità

għas-Servizzi Finanzjarji ta’ Malta.

(11) Ikun jista’ jsir appell fuq xi kwistjoni tal-liġi biss minn

deċiżjoni tat-Tribunal għas-Servizzi Finanzjarji quddiem il-Qorti

tal-Appell fil-ġurisdizzjoni superjuri tagħha. Appell jista’ jsir sa

mhux aktar tard minn għoxrin jum mid-data tad-deċiżjoni tat-

Tribunal għas-Servizzi Finanzjarji. Meta tkun qegħda tiddeċiedi

dak l-appell, il-Qorti tal-Appell għandha tkun magħmula kif hemm

fl-artikolu 41(9) tal-Kodiċi ta’ Organizzazzjoni u Proċedura Ċivili.

A p p e l l m i n n d e ċ i ż j o n i p a r z j a l i t a t - Tr i b u n a l g ħ a s - S e r v i z z i

Finanzjarji jista’ jiġi biss ippreżentat biss flimkien ma’ appell mid-

deċiżjoni finali tat-Tribunal għas-Servizzi Finanzjarji.

(12) Meta ma jkunx sar appell minn xi stima kif hemm imsemmi

fis-subregolament (1), jew meta dik l-istima tkun ġiet miftiehma kif

hemm fis-subregolament (7), jew meta dik l-istima tkun ġiet

appellata, fi żmien ħmistax-il ġurnata mid-data tad-deċiżjoni tat-

Tribunal għas-Servizzi Finanzjarji jew tal-Qorti tal-Appell tkun

saret res judicata, l-istima kif tinsab fl-avviż tal-Iskema jew kif

imnaqqsa jew miżjuda bid-deċiżjoni tat-Tribunal jew tal-Qorti tal-

Appell għandha tkun dovuta lill-Iskema.

(13) Malli ssir in-notifika ta’ kopja tal-avviż jew tad-deċiżjoni,

kif jista’ jkun il-każ, permezz ta’ att gudizzjarju fuq il-membri

indikati fl-avviż jew fid-deċiżjoni, dak l-avviż jew dik id-deċiżjoni

għandhom jikkostitwixxu titolu eżekuttiv għall-effetti u l-għanijiet

kollha tat-Titolu VII tat-Taqsima I tat-Tieni Ktieb tal-Kodiċi ta’

Organizzazzjoni u Proċedura Ċivili.

(1) Il-kalkolu ta’ kontribuzzjonijiet għandu jqis dawk il-

kontribuzzjonijiet li jkunu saru qabel, meta l-kontribuzzjonijiet

miġbura jkunu sew aktar sew inqas mill-ammont attwalment dovut

kif hawn f’dawn ir-regolamenti.

(2) L-Iskema tista’ taġġusta l-kalkolu tas-sehem ta’ membru ta’

xi kontribuzzjoni biex tingħata konsiderazzjoni xierqa ta’ xi ħaġa

waħda jew ta’ kull ħaġa minn dawn li ġejjin

(a) kull eċċess jew nuqqas, li ma jkunux diġà ttieħdu

f’konsiderazzjoni, bejn kontribuzzjonijiet li saru qabel

tal-istess tip kif stmati fir-rigward ta’ snin finanzjarji

preċedenti u l-kontribuzzjonijiet rilevanti attwalment

dovuti f’dik is-sena finanzjarja;

(b) ammonti li l-Iskema ma setgħetx tirkupra mill-membri

għal xi raġuni tkun li tkun;

(ċ) pagamenti differiti taħt ir-regolament 30;

(d) kull ħaġa oħra li l-Iskema tassew taħseb li għal

raġunijiet

raġonevoli

għandhom

jittieħdu

f’konsiderazzjoni.

(3) L-Iskema tista tnaqqas, taħfer, jew tagħmel rifużjoni ta’ xi

kontribuzzjonijiet imħallsa żejjed minn xi membru fir-rigward ta’

xi sena kalendarja partikolari, jew inkella taġġusta l-kalkolu tas-

sehem ta’ xi membru ta’ xi kontribuzzjoni, kull meta jkun hemm

żball fid-dritt jew ta’ xi fatt, sakemm dak it-tnaqqis, remissjoni,

rifużjoni jew aġġustament ikunu fir-rigward ta’ xi kontribuzzjoni li

tkun prekritta skont ir-regolament 29(9).

(4) Il-membru li jieqaf milli jkun membru tal-Iskema għal-

liema raġuni tkun m’għandu jkun intitolat għal ebda rifużjoni ta’

pagamenti lill-Iskema dwar il-kontribuzzjonijiet tiegħu.

(1) Membru għandu jħallas lill-Iskema

(a) il-Kontribuzzjoni għall-Kumpens tiegħu; u

(b) il-Kontribuzzjoni għal Spejjeż Amministrattivi tiegħu.

(2) Il-kontribuzzjoni ta’ membru tkun dovuta, u għandha

titħallas, fi żmien tletin jum mid-data tal-avviż ta’ stima kif hemm

fir-regolament 27(2).

(3) Meta membru jitlob għal konsiderazzjoni mill-ġdid jew

jippreżenta appell kontra stima tal-kontribuzzjoni jew xi fattur ta’

riskju rilevanti, dik it-talba jew appell m’għandhomx idewwmu l-

iskadenzi tal-pagament dikjarati fis-subregolament (2). Dak il-

membru jkollu jedd għal rifużjoni mill-Iskema ta’ kull ammont ta’

kontribuzzjoni mħallas b’eċċess tal-ammont li jkun miftiehem kif

hemm fir-regolament 27(7), jew meta dik l-istima tkun ġiet

a p p e l l a t a , t a l - a m m o n t l i j iġ i fi n a l m e n t d e ċ i ż l i j k un d o v ut

b’deċiżjoni tat-Tribunal għas-Servizzi Finanzjarji jew tal-Qorti tal-

Appell li tkun saret res judicata.

(4) Jekk membru, għal xi raġuni, ma jibqax membru matul xi

sena finanzjarja tal-Iskema, dan jibqa’ responsabbli għall-pagament

ta’ kull kontribuzzjoni mhux imħallsa.

(5) Jekk membru ma jħallasx l-ammont totali tal-

kontribuzzjoni tiegħu, qabel tmiem id-data meta din tkun dovuta,

dan għandu jħallas ammont addizzjonali lill-Iskema kif ġej

(a) jekk il-kontribuzzjonijiet ma tħallsux kollha kemm

huma qabel tmiem id-data dovuta, dritt amministrattiv

ta’ ħames mitt euro (€500); u

(b) mgħax fuq kull parti mhux imħallsa tal-kontribuzzjoni

bir-rata ta’ 12% fis-sena, li jakkumulaw kuljum mid-

data meta l-ammont involut sar dovut.

(6) Meta l-Iskema tiddeċiedi li tħarrek għall-irkupru ta’

kontribuzzjoni, dritt amministrattiv jew imgħax lilha dovuti minn

xi membru taħt dawn ir-regolamenti, iċ-Chairperson jew l-uffiċjal

tal-Iskema hekk kif awtorizzat mill-Iskema kif imiss biex jaġixxi

f ’isimha jista’ jagħmel dikjarazzjoni bil-ġurament quddiem ir-

Reġistratur tal-Qorti jew quddiem kull uffiċjal ieħor awtorizzat li

jamministra l-ġurament fi kwistjonijiet ġudizzjarji, fejn jiddikjara

ix-xorta tad-dejn u l-isem tal-membru u jikkonferma li dan id-dejn

ikun dovut.

(7) Bla ħsara għad-dispożizzjonijiet tar-regolament 27(12), id-

dikjarazzjoni msemmija fis-subregolament (6) għandha tiġi

notifikata lill-membru permezz ta’ att gudizzjarju u għandu jkollha

l-istess effett bħal sentenza finali tal-qorti kompetenti kemm-il

darba l-membru, fi żmien għoxrin jum min-notifika li ssirlu ta’ dik

id-dikjarazzjoni, ma jopponix ruħu għat-talba billi jippreżenta

rikors fejn jiddikjara b’mod preċiż ir-raġunijiet għal dik l-

oppożizzjoni u fejn jitlob il-qorti tiddikjara t-talba infondata.

(8) Ir-rikors ippreżentat kif hemm fis-subregolament (7)

għandu jiġi notifikat lill-Iskema, li jkollha d-dritt li tippreżenta

risposta fi żmien għoxrin jum. Il-qorti għandha tqiegħed ir-rikors

fuq il-lista għas-smigħ f ’data li tiġi wara l-iskadenza ta’ dak il-

perjodu.

(9) Kull azzjoni li ssir mill-Iskema għall-pagament ta’ xi

kontribuzzjoni dovuta minn membru għandha taqa’ meta jgħaddi ż-

żmien ta’ preskrizzjoni ta’ sentejn mid-data meta l-kontribuzzjoni

kienet dovuta.

(1) L-awtorità kompetenti tista’ tipposponi, għalkollox

jew biss f’parti, l-obbligu li membru jkollu li jħallas kontribuzzjoni

jekk l-awtorità kompetenti tqis li dawk il-kontribuzzjonijiet

jipperikolaw l-likwidità jew is-solvenza tal-membru. Dak id-

differiment m’għandux jiġi konċess għal perjodu itwal minn sitt

xhur iżda jista’ jiġi mġedded fuq talba tal-membru.

(2) Kull kontribuzzjoni differita kif hemm fis-subregolament

(1) għandha titħallas meta l-pagament ma jibqax jipperikola l-

likwidità u s-solvenza tal-membru.

(3) Kull differiment bħal dak għandu jissospendi ż-żmien ta’

preskrizzjoni stabbilit fir-regolament 29(9).

(1) Jekk membru jkun legalment intitolat li jtemm milli

jkun membru u jissieħeb ma’ DGS fi Stat Membru ieħor, l-Iskema

għandha tittrasferixxi l-kontribuzzjonijiet għall-kumpens imħallas

minn dak il-membru matul it-tnax-il xahar li jiġu qabel tmiem is-

sħubija mad-DGS rilevanti.

(2) Jekk x’uħud mill-attivitajiet ta’ membru jiġu trasferiti lil xi

Stat Membru ieħor u jsiru soġġetti għal xi DGS fi Stat Membru

ieħor, il-kontribuzzjonijiet għall-kumpens imħallsa minn dak il-

m e m br u m a tu l it- t na x- i l x a ha r li ji ġu q a bel i t- tr a s f e ri m e nt

għandhom jiġu trasferiti lid-DGS rilevanti fil-proporzjon tal-

ammont ta’ depożiti koperti trasferiti.

(3) Id-disposizzjonijiet

tas-subregolamenti

preċedenti

m’għandhomx japplikaw

(a) jekk il-membru jkun ġie eskluż mill-Iskema kif hemm

fir-regolament 22(6); jew

(b) għal Kontribuzzjonijiet għal Spejjeż Amministrattivi;

jew

(ċ) għal Kontribuzzjonijiet għall-Kumpens straordinarji

kif hemm fir-regolament 25(2).

(4) Jekk membru jkollu l-ħsieb li jittrasferixxi x’uħud mill-

attivitajiet jew l-attivitajiet kollha tiegħu fi Stat Membru ieħor, dan

għandu jagħti mill-inqas sitt xhur avviż tal-intenzjoni tiegħu li

jagħmel dan lill-Iskema. Matul dak il-perjodu, il-membru għandu

jibqa’ taħt l-obbligu li jħallas il-Kontribuzzjonijiet għall-Iskema

kollha kif hawn f’dawn ir-regolamenti.

(1) L-Iskema tista’ tqiegħed il-mezzi finanzjarji tagħha

disponibbli f’mod ta’ riskju baxx u diversifikat biżżejjed.

(2) L-Iskema tista’ żżomm kull ammont miġbur minn

Kontribuzzjoniijiet għal Spejjeż Amministrattivi kif hemm fir-

regolament 26 u kull fondi oħra mmexxija u amministrati minnha

bħala depożitu jew tista’ tinvesti kontribuzzjonijiet bħal dawk,

wara li titqies il-ħtieġa għall-prudenza.

(3) Kull imgħax jew xi forma oħra ta’ dħul jew qligħ li jinqala’

mill-Iskema fir-rigward tal-assi tagħha miżmuma kif hemm fis-

subregolamenti (1) u (2) għandhom jiġu allokati fir-riservi tal-

Iskema, inkluż il-"Fond Akkumulat" u r-"Riserva ta’

Rivalutazzjoni".

(4) Il-Kumitat ta’ Tmexxija jista’ f’kull żmien, u fid-

diskrezzjoni unika tiegħu, jalloka kull jew xi riserva tal-Iskema

miżmuma kif hemm fis-subregolament (3) lil xi waħda mill-

klassijiet ta’ fondi li jirrappreżentaw l-mezzi finanzjarji disponibbli

tal-Iskema jew il-Kontribuzzjoniijiet għal Spejjeż Amministrattivi.

(1) Il-mezzi

finanzjarji

disponibbli

għandhom

primarjament jintużaw biex jitħallsu lura d-depożitanti kif hawn

f’dawn ir-regolamenti.

(2) Il-mezzi finanzjarji disponibbli tal-Iskema għandhom

jintużaw sabiex jiffinanzjaw ir-riżoluzzjoni tal-membri kif hemm

fid-Direttiva 2014/59/UE. Il-Kumitat ta’ Riżoluzzjoni għandu

jiddeċiedi, wara li jikkonsulta l-Iskema, dwar l-ammont li bih l-

Iskema tkun responsabbli.

(3) L-Iskema, wara konsultazzjoni mal-awtorità kompetenti,

tista’ tuża l-mezzi finanzjarji disponibbli għal miżuri alternattivi li

jkunu jipprevjenu l-inadempjenza ta’ membru sakemm jitħarsu

dawn il-kondizzjonijiet li ġejjin

(a) il-Kumitat ta’ Riżoluzzjoni ma jkun ħa ebda azzjoni

ta’ riżoluzzjoni taħt id-Direttiva 2014/59/UE;

(b) l-Iskema jkollha sistemi u proċeduri adatti effettivi

għall-għażla u l-implimentazzjoni ta’ miżuri

alternattivi u l-monitoraġġ ta’ riskji affiljati;

(ċ) l-ispejjeż tal-miżuri ma jkunux jeċċedu l-ispejjeż tat-

twettiq tal-mandat statutorju jew kuntrattwali tal-

Iskema;

(d) l-użu ta’ miżuri alternattivi mill-Iskema hu marbut ma’

kondizzjonijiet imposti fuq il-membru li jkun qed jiġi

appoġġat, li jinvolvu monitoraġġ ta’ riskji għall-inqas

aktar strett u drittijiet akbar ta’ verifika għall-Iskema;

(e) l-użu ta’ miżuri alternattivi mill-Iskema jkun marbut

mal-impenji tal-membru li jkun qed jiġi appoġġat bil-

għan li jiġi żgurat li l-aċċess għal depożiti koperti;

(f)

l-abbiltà tal-membri li jħallsu l-kontribuzzjonijiet

straordinarji kif hemm fis-subregolament (5) tinsab

konfermata fl-istima tal-awtorità kompetenti.

L-Iskema għandha tikkonsulta lill-Kumitat ta’ Riżoluzzjoni

u lill-awtorità kompetenti dwar il-miżuri u l-kondizzjonijiet

imposti fuq il-membru.

(4) Il-miżuri alternattivi msemmija fis-subregolament (3)

m’għandhomx jiġu applikati meta l-awtorità kompetenti, wara li

tikkonsulta lill-Kumitat ta’ Riżoluzzjoni, tikkunsidra l-

kondizzjonijiet għall-azzjoni ta’ riżoluzzjoni taħt id-Direttiva

2014/59/UE li għandhom jitħarsu.

(5) Jekk il-mezzi finanzjarji disponibbli jiġu użati kif hemm

fis-subregolament (3), il-membri għandhom minnufih jipprovdu l-

Iskema bil-mezzi użati għal miżuri alternattivi, fejn ikun meħtieġ

fil-forma ta’ kontribuzzjonijiet straordinarji, meta

(a) ikun hemm il-ħtieġa għal xi ħlas lura lid-depożitanti u

l-mezzi finanzjarji disponibbli tal-Iskema jkunu

jammontaw għal inqas minn żewġ terzi tal-livell ta’

mira;

(b) il-mezzi finanzjarji disponibbli jaqgħu taħt il-25% tal-

livell ta’ mira

Iżda sakemm jintlaħaq il-livell ta’ mira għall-ewwel darba,

il-livelli msemmija hawn qabel għandhom ikunu japplikaw fir-

rigward tal-mezzi finanzjarji disponibbli.

(6) L-Iskema, f’konsultazzjoni mal-awtorità kompetenti, tista’

tiddeċiedi li l-mezzi finanzjarji disponibbli jistgħu jintużaw ukoll

biex jiffinanzjaw miżuri li jippreservaw l-aċċess tad-depożitanti

għal depożiti koperti, inkluż it-trasferiment ta’ kull attiv u passiv u

t-trasferiment bi ktieb ta’ depożitu, fil-kuntest ta’ proċedimenti ta’

falliment, sakemm l-ispejjeż mħallsa mill-Iskema ma jeċċedux l-

ammont nett ta’ kumpens għal depożitanti koperti fil-membru

involut.

TAQSIMA VI

Supplementari

(1) L-Iskema tista’, b’konsultazzjoni mal-awtorità

kompetenti, tislef lil kull SGD oħra fi ħdan l-Unjoni Ewropea fuq

bażi volontarja, sakemm tiżgura li jitħarsu dawn il-kondizzjonijiet

li ġejjin

(a) id-DGS li jkun qed jissellef ma jkunx jista’ jwettaq l-

obbligi tiegħu taħt l-Artikolu 9(1) tad-Direttiva

minħabba f’nuqqas ta’ mezzi finanzjarji disponibbli;

(b) id-DGS li jkun qed jissellef ikun irrikorra għall-

kontribuzzjonijiet straordinarji msemmija fl-Artikolu

10(8) tad-Direttiva;

(ċ) id-DGS li jkun qed jissellef jintrabat bl-impenn legali

li l-fondi mislufa jkunu se jintużaw biex jitħallsu t-

talbiet taħt l-Artikolu 12 tad-Direttiva;

(d) id-DGS li jkun qed jissellef ma jkun fil-mument

soġġett għal ebda obbligu li jħallas lura is-self lil SGD

oħrajn taħt dan ir-regolament;

(e) id-DGS li jkun qed jissellef jiddikjara l-ammont ta’

flus mitlub;

(f)

l-ammont totali misluf ma jeċċedix 0.5% mid-depożiti

koperti tad-DGS li jkun qed jissellef;

(g) id-DGS li jkun qed jissellef jinforma lill-Awtorità

Bankarja Ewropea mingħajr dewmien u jiddikjara r-

raġunijiet għaliex il-kondizzjonijiet stabbiliti f’dan is-

subregolament ikunu qegħdin jitħarsu u l-ammont ta’

flus mitlub.

(2) L-Iskema għandha tiżgura li s-self ikun soġġett għal dawn

il-kondizzjonijiet li ġejjin

(a) id-DGS li jkun qed jissellef għandu jħallas lura s-self

fi żmien ħames snin. Dan jista’ jħallas lura s-self f’rati

ta’ pagamenti annwali. Ikun biss dovut imgħax meta

jkun qed isir il-ħlas lura;

(b) ir-rata ta’ mgħax imposta għandha tkun mill-inqas

ekwivalenti għar-rata ta’ faċilità ta’ self marġinali tal-

Bank Ċentrali Ewropew matul il-perjodu ta’ kreditu;

(ċ) l-Iskema għandha tinforma lill-Awtorità Bankarja

Ewropea bir-rata ta’ mgħax inizjali u biż-żmien kemm

itul is-self.

(3) L-Iskema għandha tiżgura li l-kontribuzzjonijiet kollha

miġbura mid-DGS li jkun qed jissellef huma biżżejjed biex

tirrifondi l-ammont imsellef u biex terġa’ tistabbilixxi l-livell ta’

mira kemm jista’ jkun malajr.

9. (1)

A deposit is an eligible deposit only if it is held with a

member

(a) in Malta; or

(b) in that member’s branch which is located in another

Member State.

(2)

The following are not eligible deposits

(a) subject to regulation 12(5), deposits made by other

credit institutions on their own behalf and for their

own account;

(b) own funds as defined in point (118) of Article 4(1) of

Regulation (EU) No 575/2013;

(c) deposits arising out of transactions in connection with

which there has been a criminal conviction for money

laundering as defined in Article 1(2) of Directive

2005/60/EC;

(d) deposits by financial institutions as defined in point

(26) of Article 4(1) of Regulation (EU) No 575/2013;

(e) deposits by investment firms as defined in point (1) of

Article 4(1) of Directive 2004/39/EC;

(f)

deposits the holder of which has never been identified

pursuant to Article 9(1) of Directive 2005/60/EC,

when they have become unavailable;

(g) deposits by insurance undertakings and by reinsurance

undertakings as referred to in Article 13(1) to (6) of

Directive 2009/138/EC;

(h) deposits by collective investment undertakings;

(i)

deposits by pension and retirement funds;

(j)

deposits by public authorities;

(k) debt securities issued by a credit institution and

liabilities arising out of own acceptances and

promissory notes;

(l)

deposits held with a member in a branch of that

member which is located in a non-Member State;

(m) electronic money and funds received in exchange for

electronic money in accordance with Directive 2009/110/

EC of the European Parliament and of the Council on the

taking up, pursuit and prudential supervision of the

business of electronic money institution.

10. (1) The Scheme shall pay compensation in accordance

with these regulations in respect of an eligible deposit if it is

satisfied that the eligible deposit is a deposit with a member which

is in default.

(2) The maximum compensation sum payable for the aggregate

deposits of each depositor is EUR 100,000, save that additional

compensation may be payable in cases to which sub-regulation (3)

applies.

(3) In addition to the maximum compensation sum payable

pursuant to sub-regulation (2), the maximum compensation sum

payable for a temporary high balance is EUR 500,000.

(4) Notwithstanding the provisions of sub-regulations (1) to

(3), the Scheme shall also, in accordance with the provisions of

article 26(3)(e) of the Arbiter for Financial Services Act, settle any

judgment or award of up to twenty thousand euro (€20,000), in

respect of any civil liability in regard to the business of banking,

which is obtained by a depositor against a member, which is, or has

been declared, in default, and such payment shall be made within

ten (10) working days from the day when the judgement or award

becomes res judicata

Provided that following the settlement of any such amount

by the Scheme, the maximum compensation sum payable for the

aggregate deposits of each depositor in terms of sub-regulation (2)

shall be reduced by the amount settled by the Scheme in accordance

with this sub-regulation.

11. (1) In order to qualify as a temporary high balance, a part

of an eligible deposit in excess of EUR 100,000 must meet any one

of the following additional criteria

(a) it comprises

(i)

monies deposited in preparation for the purchase

of a private residential property by the

depositor; or

(ii) monies which represent the proceeds of sale of a

private residential property of the depositor; or

(b) it comprises sums paid to the depositor in respect of

(i)

a separation, divorce or dissolution of their civil

union; or

(ii) benefits payable on retirement; or

(iii) a claim for compensation for unfair dismissal; or

(iv) a claim for compensation for redundancy; or

(v) benefits payable for death or bodily injury; or

(vi) a claim for compensation for wrongful

conviction.

(2) In the notice published pursuant to regulation 8(3), the

Scheme shall inform depositors of the credit institution concerned

of the following

(a) that

depositors

may

be

entitled

to

additional

compensation if all or part of the eligible deposit in

excess of EUR 100,000 qualifies as a temporary high

balance;

(b) that in order to claim such additional compensation, a

depositor must provide the Scheme with a written

application and evidence supporting the depositor’s

claim that all or part of the eligible deposit in excess of

EUR 100,000 qualifies as a temporary high balance;

(c) that a depositor may make more than one claim if there

are multiple events giving rise to temporary high

balances; and

(d) the date by which such written application and

supporting evidence should be submitted to the

Scheme.

(3) The Scheme shall pay compensation to a depositor in

respect of a temporary high balance in accordance with regulation

10(3) if it is satisfied that there is a sufficient link between an event

giving rise to a temporary high balance and the part of the eligible

deposit in excess of EUR 1 00, 000, ta king into account the

following considerations

(a) the written application and evidence provided by the

depositor under sub-regulation (2); and

(b) any other information that the Scheme considers

relevant.

(4) The Scheme shall pay compensation to a depositor in

accordance with regulation 10(3) in respect of each temporary high

balance that the depositor has with any one member.

(5) The protection for temporary high balances under

regulation 10(3) shall run for a period of six months from the later

of

(a) the first date on which a temporary high balance is

credited to a depositor’s account, or to another account

on a person’s behalf; and

(b) the first date on which the temporary high balance

becomes legally transferable to the depositor.

(6) The Scheme shall, within three months of the compensation

date, pay to the depositor a sum representing the amount due to the

depositor in respect of the temporary high balance unless one or

more of the provisions of sub-regulations (7) and (8) applies.

(7) The Scheme may defer payment in respect of a temporary

high balance for a period in excess of the period specified in sub-

regulation (6) where

(a) the depositor provides the written application and

evidence referred to in sub-regulation (2) to the

Scheme more than two months following the date of

the written notice from the Scheme under sub-

regulation (2); or

(b) one or more of the circumstances set out in regulation

14 arise.

(8) If the Scheme considers that the written application and

evidence provided by a depositor under sub-regulation (2) does not

demonstrate a sufficient link between an event giving rise to a

temporary high balance and the eligible deposit in excess of EUR

100,000, the Scheme shall write as soon as reasonably possible to

that depositor to

(a) request, within such time as the Scheme may specify,

any additional information that the Scheme considers

necessary to determine the claim; or

(b) confirm that the Scheme has determined that the

deposit is not a temporary high balance, setting out the

reasons for its determination and a summary of any

right for reconsideration or appeal.

12. (1) Compensation shall be calculated by reference to

eligible deposits held on the compensation date.

(2) The limit referred to in regulation 10 applies to the

aggregate eligible deposits placed by a depositor with the same

member, irrespective of the number of accounts, the currency, or

the location within the EEA.

(3) The share of each depositor of a joint account shall be

considered separately in calculating the limits provided for in

regulation 10, except where sub-regulation (4) applies. In the

absence of contrary provision, the joint account shall be divided

equally among the depositors.

(4) Deposits in an account to which two or more persons are

entitled as members of a business partnership, association, or

grouping of a similar nature, without legal personality, shall be

aggregated and treated as if made by a single depositor for the

purpose of calculating the limit provided for in regulation 10.

(5) Where a depositor is not absolutely entitled to the sums

held in an account and another person is absolutely entitled to such

sums, the person who is absolutely entitled shall be entitled to

compensation in respect of the deposit, provided that such person

has been identified or is identifiable before the compensation date.

(6) Where several persons are absolutely entitled, the share of

each under the arrangements subject to which the deposit is

managed shall be taken into account when the limit provided for in

regulation 10 is calculated.

(7) Liabilities of the depositor due to the member shall not be

taken into account when calculating the repayable amount.

(8) Any compensation payable by the Scheme shall be

calculated on the amounts credited to a depositor’s accounts and on

any interest which has accrued until, but has not been credited on

the compensation date. Such compensation shall not exceed the

limits referred to in regulation 10 in the aggregate.

13. (1) The Scheme shall pay compensation in respect of

eligible deposits without a request to the Scheme being necessary

within the applicable time period and as soon as reasonably

practicable after

(a) it is satisfied that the conditions in regulation 10(1)

have been satisfied; and

(b) it has calculated the amount of compensation due to

the depositor.

(2) Saving sub-regulation (3), the applicable time period

referred to in sub-regu lati on (1) shall be r eckon ed t he day

following the compensation date as follows

(a) twenty working days until 31 December 2018;

(b) fifteen working days from 1 January 2019 until 31

December 2020;

(c) ten working days from 1 January 2021 and until 31

December 2023;

(d) seven working days from 1 January 2024.

(3) The applicable period shall be three months reckoned the

da y f ol l o w i ng t h e co m p e n s a t io n da t e i n th o s e c a s e s wh e r e

regulation 12(5) and (6) applies or where the Scheme reasonably

believes that regulation 12(5) and (6) may apply.

(4) During the transitional period until 31 December 2023,

where the Scheme cannot pay compensation within seven working

days, the Scheme shall ensure that depositors have access to an

amount, equivalent to three times the gross weekly minimum wage

on the compensation date, to cover the cost of living, within five

working days of a request from the depositor. The Scheme shall

only grant access to the amount referred to in this sub-regulation,

within five (5) working days, on the data provided by the member.

Such amount shall be deducted from the compensation which may

be payable.

14. (1) The Scheme may defer the payment of compensation

beyond the time period set out in regulation 13 where

(a) the deposit is a not active account;

(b) the amount to be repaid is deemed to be part of a

temporary high balance; or

(c) the amount to be repaid is to be paid out by the DGS of

a host Member State in accordance with regulation

35(1).

(2) Notwithstanding the provisions of sub-regulation (1), the

Scheme shall not pay compensation in respect of a deposit which is

a dormant account where the value of the deposit is lower than the

administrative costs that would be incurred by the Scheme in

making such a repayment.

(3) Notwithstanding the provisions of sub-regulation (1), the

Scheme may suspend any payment referring to any account in

respect of which a depositor or any person entitled to or interested

in sums held therein has been charged with an offence arising out

of or in relation to money laundering, pending the judgment of the

court.

15. (1) All compensation repayments shall be made in euro.

(2) Where deposits are maintained in a currency other than the

euro, the exchange rate used shall be the applicable euro foreign

exchange reference rate quoted by the European Central Bank on

the compensation date.

16. (1) Without prejudice to the rights which the Scheme may

have at law, the Scheme shall, upon paying compensation under

these regulations, immediately and automatically be subrogated to

all the rights of the depositor, up to the amount of the compensation

paid, as against the member and, or any third party in respect of or

arising out of the deposits being unavailable to the depositor.

(2) Upon paying compensation under these regulations, the

Scheme shall decide in its absolute discretion which recoveries are

likely to be both reasonably possible and cost effective to pursue.

(3) Where the Scheme makes payments in the context of

resolution proceedings, including the application of resolution tools

or the exercise of resolution powers in accordance with regulation

33, the Scheme shall have a claim against the relevant credit

institution for an amount equal to its payments. That claim shall

rank at the same level as covered deposits under Maltese law

governing normal insolvency proceedings.

17. Depositors, whose deposits were not repaid or

acknowledged by the Scheme within the time-limits set out in

regulation 13, shall forfeit their right to claim repayment of their

deposit after the lapse of a peremptory term of two years from the

compensation date.

18. (1) A depositor who is aggrieved by a decision of the

Scheme in his regard may request the Scheme to reconsider its

decision. The Scheme shall within two months from such request

provide the said depositor with a reasoned decision. The foregoing

shall be without prejudice to the right of a depositor to bring

forward any claim he may have against the Scheme before a

competent court or tribunal of civil jurisdiction.

(2) The Scheme shall, if requested by any person who is

affected by a decision of the Scheme, give reasons to such person

for any such decision.

PART IV

Information Requirements

19. (1) Credit institutions shall make available to actual and

intending depositors the information necessary for the

identification of the Scheme or other deposit guarantee schemes of

which the institution and its branches are members within the

European Union. Credit institutions shall inform actual and

intending depositors of the applicable exclusions from protection

under these regulations or the Directive.

(2) Before entering into a contract on deposit-taking, members

shall provide depositors with the information referred to in sub-

regulation (1). The depositors shall acknowledge the receipt of that

information. The template set out in the Schedule shall be used for

that purpose.

(3) Confirmation that the deposits are eligible deposits shall be

provided by members to depositors on their statements of account.

Such statements of account shall include a reference to the

information sheet set out in the Schedule. The website of the

Scheme shall be indicated on the information sheet. The

information sheet set out in the Schedule shall be provided to the

depositor at least once annually.

(4) The information provided for in sub-regulation (1) shall be

made available in the manner prescribed by these regulations in the

language that was agreed by the depositor and the member when

the account was opened or in an official language of Malta.

(5) Credit institutions shall limit the use in advertising of the

information referred to in sub-regulations (1), (2) and (3) to a

factual reference to the DGS guaranteeing the product to which the

advertisement refers and to any additional information required at

law. Such information may extend to the factual description of the

functioning of the DGS but shall not contain a reference to

unlimited coverage of deposits.

(6) In the case of a merger, conversion of subsidiaries into

branches or similar operations, the credit institution undergoing

such operation shall inform its depositors of such operation at least

one month before the operation takes legal effect unless the

competent authority allows a shorter deadline on the grounds of

commercial secrecy or financial stability.

(7) The credit institution referred to in sub-regulation (6) shall

give its depositors a three-month period following notification of

the merger or conversion or similar operation to withdraw or

transfer to another credit institution, without incurring any penalty,

their eligible deposits including all accrued interest and benefits in

so far as they exceed the coverage level pursuant to regulation 28 at

the time of the operation.

(8) If a credit institution withdraws or is excluded from the

DGS of which it is a member, the credit institution shall inform its

depositors within one month of such withdrawal or exclusion.

(9) If a depositor uses internet banking, the information

required to be disclosed by the credit institution in terms of this

regulation may be communicated by electronic means. Where the

depositor so requests, it shall be communicated on paper.

(10) The competent authority may from time to time, and in

addition, specify such other information that members are to

provide to depositors regarding the Scheme and its operations, as

well as the manner and form in which such information shall be

provided.

(11) The website of the Scheme shall contain the necessary

information for depositors, in particular information concerning the

provisions regarding the process for and conditions of deposit

guarantee as envisaged under these regulations.

20. (1) Members shall ensure that they mark -

(a) eligible deposits, other than those specified in sub-

paragraph (b) and (c);

(b) eligible deposits which hold any funds to which the

depositor is not absolutely entitled; and

(c) eligible deposits which are not active;

in a way that allows an immediate identification of such deposits.

(2) The information required in sub-regulation (1) shall be

electronically stored.

(3) A member shall prepare and provide the Scheme with a

single customer view file and deferred file for each depositor with

an eligible deposit

(a) within twenty-four hours of its relevant deposits

becoming unavailable deposits;

(b) within twenty-four hours of a request by the Scheme;

(c) within three months of first accepting deposits; and

(d) within three months of a material change in the

member‘s SCV system.

(4) If a depositor does not have any accounts or balances which

are required to be included within the single customer view file

and, or deferred file, the member should provide confirmation of

this to the Scheme.

(5) The information required to be provided in a single

customer view file and deferred file pursuant to sub-regulation (3)

shall include such data and shall be in such format and meet such

technical requirements as shall be published from time to time by

the Scheme by notice on its website. The publication of such notice

on the Scheme’s website shall be binding on members.

21. (1) A member shall provide the Scheme with an SCV

report

(a) within three months of first accepting deposits;

(b) within three months of a material change in the

member‘s SCV system;

(c) annually by not later than the 30th June of each

calendar year;

(d) promptly upon request by the Scheme.

(2) The information required to be provided in an SCV report

pursuant to sub-regulation (1) shall include such data and shall be

in such format and meet such technical requirements as shall be

published from time to time by the Scheme by notice on its website.

The publication of such notice on the Scheme’s website shall be

binding on members.

(3) Every member shall have a contingency plan in place so

that, in the event of its failure, it retains adequate resources in order

to provide the Scheme with any relevant information required by it

for repayment to depositors.

22. (1) In addition to the requirements pursuant to regulations

20 a nd 21 , m e mb e r s sh a l l en s ur e t ha t th e y hav e el e c t r on i c

information systems in place to the satisfaction of the Scheme to be

able to provide to the Scheme, at any time and upon its request, all

information relevant for the achievement of the Scheme’s objective

and functions or for the proper administration of the Scheme,

including the repayment of depositors and testing purposes.

(2) The Scheme may require members, either directly or

through the competent authority, to prepare and provide the

information referred to in sub-regulation (1), within a period of

time as may be established by the Scheme. The request may be

addressed to the member or to any of its directors or officials who

are in possession of such information.

(3) A member shall by notice to the Scheme by the end of

January of each year provide a statement of its total covered

deposits (excluding temporary high balances), at the end of the

preceding financial year for the purpose of determining the

member’s contribution for the relevant financial year.

(4) If a member does not give notice of the statement referred

to in the preceding paragraph by the date on which it is due in

accordance with any prescribed requirements

(a) the member shall pay an administrative fee of five

hundred euro (€500) to the Scheme; and

(b) the member’s contribution will be calculated using

(where relevant) the statement of the member’s total

covered deposits (excluding temporary high balances)

applicable to the previous period, multiplied by the

factor of 1.20 or on any other reasonable basis, making

such adjustments as seem appropriate in subsequent

levies once the member provides a correct statement as

required by these regulations.

(5) If a member does not comply with the obligations

incumbent on it as a member of the Scheme, including those

pursuant to regulations 20, 21 and this regulation, the competent

authority shall be notified immediately and, in cooperation with the

Scheme, shall promptly take all appropriate measures to ensure that

the member complies with its obligations.

(6) If the measures taken under these regulations fail to secure

compliance on the part of the member, the Scheme may, subject to

the express consent of the competent authority, give not less than

one month’s notice of its intention to exclude the member from

membership of the Scheme. Deposits made before the expiry of that

notice period shall continue to be fully covered by the Scheme. If,

on expiry of that notice period, the member has not complied with

its obligations, the Scheme shall exclude it from membership.

(7) Deposits held on the date on which a member is excluded

from membership of the Scheme shall continue to be covered by

the Scheme.

PART V

DEPOSITOR COMPENSATION SCHEME

Funding

23. (1) The competent authority shall ensure that

(a) the Scheme has in place adequate systems to determine

its potential liabilities; and

(b) the available financial means of the Scheme is

proportionate to those liabilities.

(2)

The available financial means of the Scheme shall reach

a target level of the covered deposits of its members as follows

(a) 1.10% from 1 January 2022 until 31 December 2022;

(b) 1.20% from 1 January 2023 until 31 December 2023;

(c) 1.30% from 1 January 2024 until 31 December 2024

and for every subsequent year;

or such higher target level as may be established by banking rules in

accordance with regulation 42

Provided that

(a) where the financing capacity falls short of such target

level, the payment of contributions shall resume at

least until the target level is reached again;

(b) if the available financial means have been reduced to

less than two-thirds of such target level, the regular

contribution shall be set at a level allowing such target

level to be reached within six years;

(c) if the available financial means have been reduced to a

level which is more than two-thirds of such target

level, the regular contribution shall be set at a level

allowing such target level to be reached within four

years;

(d) subject to the overriding provision of regulation 23(3),

but notwithstanding the maximum portion of a

Compensation Contribution which by reference to the

relative financial year can be provided as payment

commitment in regulation 25(8), where the available

financial means of the Scheme have been reduced on

account of the Scheme having paid compensation to

depositors under Part III of these regulations, the

Scheme may provide in its absolute discretion that the

payment of contributions by members under

paragraphs (a), (b) and, or (c), as the case may be, be

provided in whole or in part to the Scheme by means

of a payment commitment;

(e) the payment of contributions under paragraph (a) and

paragraph (b) and, or paragraph (c) shall be determined

by the Scheme in accordance with regulation 25(3).

(f)

the regular contribution shall take due account of the

phase of the business cycle, and the impact procyclical

contributions may have when setting annual

contributions in the context of these regulations.

(3) The available financial means to be taken into account in

order to reach the target level may include payment commitments.

The total share of payment commitments shall not exceed 30% of the

total amount of available financial means raised in accordance with

this regulation

Provided that the competent authority may issue banking

rules pursuant to regulation 42 on payment commitments, account

being taken of any guidelines issued by the European Banking

Authority.

(4) The target level referred to in sub-regulation (2) shall not

include contributions to resolution financing arrangements under

Directive 2014/59/EU, including available financial means to be

taken into account in o rder to reach t he target level of the

resolution financing arrangements under Directive 2014/59/EU.

(5) The Scheme shall ensure that it has in place adequate

alternative funding arrangements to enable it to obtain short-term

funding to meet claims against the Scheme.

(6) The Scheme shall, by 31 March each year, inform the

European Banking Authority of the amount of covered deposits in

Malta and of the amount of the available financial means of the

Scheme on 31 December of the preceding year.

24. The Scheme may at any time require members to pay the

following contributions

(a) Compensation Contribution;

(b) Management Expenses Contribution.

25. (1) Subject to regulation 23 (2), the Scheme may require

members to pay a Compensation Contribution at least once in every

financial year, commencing from the financial year ending 31

December 2016. The Compensation Contribution shall be allocated

to the available financial means.

(2) If the available financial means of the Scheme are

insufficient to repay depositors when deposits become unavailable,

th e S c h e m e sh a ll r e q ui re m e m be rs to p a y a n ex tr a or d in a ry

Compensation Contribution not exceeding 0.5% of their covered

deposits per financial year. The Scheme may in exceptional

circumstances and with the consent of the competent authority

require higher contributions.

(3) The

Compensation

Contribution

(including

any

extraordinary Compensation Contribution) shall be based on the

amount of covered deposits (excluding temporary high balances) of

each member and the degree of risk incurred by the respective

member

Provided that a member may be required to pay a minimum

contribution under a Compensation Contribution irrespective of the

amount of its covered deposits or its degree of risk.

For the avoidance of doubt and saving the provisions of

these regulations, the annual compensation contributions shall be

determined by the Scheme for each member having regard to

(a) the applicable percentage of the covered deposits of its

members as specified under regulation 23(2);

(b) the covered deposits of each member at the end of the

year immediately preceding the relevant financial

year;

(c) the degree of risk incurred by each member by

reference to an aggregate risk weight in terms of

regulation 25(5) for the year immediately preceding

the relevant financial year; and

(d) an adjustment coefficient in terms of regulation 25(6).

(4) Subject to the provisions of sub-regulation (3), the

competent authority shall by banking rules establish

(a) a method (hereinafter referred to as the "risk-based

method") for determining the degree of risk incurred

by members;

(b) a method (hereinafter referred to as the "Compensation

Contribution method") for determining the amount of

Compensation Contribution due by each member in

each financial year

Provided that

(i)

the competent authority may review or amend

any risk-based method or Compensation

Contribution method, account being taken where

appropriate of any guidelines which may be

issued by the European Banking Authority;

(ii) the competent authority shall inform the

European Banking Authority about the risk-

based method.

(5) The competent authority shall determine at least once in

every financial year the Aggregate Risk Weight for each member

(ARWi) in accordance with the risk-based method for the purpose

of determining the compensation contribution in respect of the

relevant financial year.

(6) The competent authority shall determine at least once in

every financial year the Adjustment Coefficient (µ) for all members

with the aim of reaching the target level whenever the total risk-

adjusted contributions would be too high or too low for the purpose

of determining the compensation contribution in respect of the

relevant financial year.

(7) Every member shall provide to the competent authority the

information required for the determination of the Aggregate Risk

Weight of that member.

(8) Subject to the provisions of regulation 23(3), the Scheme may

provide that a portion of a Compensation Contribution be provided to

the Scheme by means of a payment commitment.

(9) The competent authority may issue banking rules in order

to review and amend the effective date or percentages indicated in

sub-regulation (8).

(10) Any payment commitment shall become payable to the

Scheme on the Scheme’s demand. The payment commitment of a

member shall also become payable to the Scheme whenever that

member ceases to be licensed in Malta for any reason whatsoever

Provided that when a member ceases to be licensed on

account of a merger with or acquisition by another member, the

Scheme may, at its discretion, either

(a) demand payment of the payment commitment; or

(b) require that the payment commitment is transferred to

the other member which has acquired the member who

has ceased to be licensed in Malta or with which the

latter member has merged.

(11) Details on the type of assets which may be accepted as

collateral for Payment Commitments and on the modalities used to

implement such Payment Commitments may be specified by

banking rules.

(12) The value of assets comprising collateral for the Payment

Commitments shall be the market value of such assets, determined

in accordance with such discounting rules ("Valuation Haircuts") as

shall be established by banking rules.

(13) The assets comprising collateral for the Payment

Commitments shall be denominated in euro irrespective of the

currency of the covered deposits.

(14) A member may not switch from one asset comprising

collateral for the Payment Commitments to another asset, without

the prior written consent of the Scheme.

(15) A member may, with the prior approval of the Scheme, pay

the equivalent amount of the Payment Commitments directly with

the Scheme, in which case such payment shall be on account of the

member’s liability under sub-regulation (8), and the provisions of

this regulation shall, where applicable, also be applicable to such

payment. No interest shall be payable by the Scheme to the member

in respect of such payment. The Scheme may, in its absolute

discretion, request the member to substitute such payment with the

Payment Commitments due under these regulations.

26. (1) The Scheme may impose a Management Expenses

Contribution on members in any financial year if it has reasonable

grounds to believe that the funds available to it to meet

management expenses in that financial year are, or will be,

insufficient.

(2) The Scheme shall apply any amount collected from a

Management Expenses Contribution to the payment of management

expenses, and shall not treat such funds as available financial

means of the Scheme.

(3) The competent authority shall by banking rules establish a

method (hereinafter referred to as the "Management Expenses

Contribution method") for determining the amount of

Managements Expenses Contribution due by each member in any

financial year

Provided that the competent authority may review or amend

any Management Expenses Contribution method.

(4) Notwithstanding any other provision in these Regulations, a

member which becomes a member of the Scheme part way through

the financial year, shall for the financial year in which it has

become a member pay an Initial Management Expenses

Contribution amounting to thirty-five thousand euro (€35,000).

27. (1) The Scheme shall assess at least once in every

financial year the Compensation Contribution for each member in

respect of the relevant financial year in accordance with the

Compensation Contribution method.

(2) The Scheme shall give notice to each member about the

amount of its Compensation Contribution, the risk factor

established in the determination of that contribution and the amount

of its Management Expenses Contribution in respect of any

relevant financial year. The obligation of the member towards the

Scheme in respect of its Compensation Contribution for any

relevant financial year shall be deemed to arise on the date of such

notice.

(3) A member which is aggrieved by any such assessment may

request the Scheme to reconsider such assessment.

(4) A request for reconsideration shall be made within thirty

days from notification of the assessment and may not be made

concurrently with an appeal.

(5) The request for reconsideration shall include a written

document stating precisely the reasons for such a request, and the

manner in which it considers that the assessment should be

amended.

(6) On receipt of a request for reconsideration, the Scheme

may require the member making the request to furnish such

information as the Scheme may deem necessary.

(7) In the event that the Scheme accedes to the request for

reconsideration or otherwise the member agrees with the Scheme as

to the amount of the contribution or any relevant risk factors, the

assessment shall be amended accordingly, and notice of the amount

of contribution payable or the risk factors established shall be

notified upon such member.

(8) If no agreement is reached, the Scheme shall assess the

amount of the contribution payable and any relevant risk factors in

writing, and give notice thereof to the member

Provided always that in the event of any member who has

applied for a reconsideration, failing to agree with the Scheme on

such assessment, its right of appeal against the assessment, shall

remain unimpaired.

(9) A member may not appeal against an assessment of the

cont ri but io n o r any rel evant r isk fact ors un less i t h as f irst

exhausted its right to a reconsideration of such assessment.

(10) An appeal shall be filed against the Scheme and made to the

Financial Services Tribunal in accordance with article 10 of the

Banking Act, within thirty days of service of the notice to the

member of the notice of the assessment referred to in sub-

regulation (8). In those instances where the appeal is contesting the

risk factor established in the determination of the contribution, the

appeal shall also be filed against the competent authority. The

request for an appeal shall include a written document stating

precisely the reasons for such a request, and the manner in which it

considers that the assessment should be amended. The Financial

Services Tribunal shall have all the powers conferred upon it by

article 21 of the Malta Financial Services Authority Act.

(11) An appeal on a question of law only from a decision of the

Financial Services Tribunal shall lie to the Court of Appeal in its

superior jurisdiction. An appeal shall be made by not later than

twenty days from the date of the decision of the Financial Services

Tribunal. In the determination of such an appeal, the Court of

Appeal shall be constituted in terms of article 41(9) of the Code of

Organization and Civil Procedure. An appeal from a partial

decision of the Financial Services Tribunal may only be filed

together with an appeal from the final decision of the Financial

Services Tribunal.

(12) Where an assessment as referred to in sub-regulation (1)

has not been appealed, or where such assessment has been agreed

in accordance with sub-regulation (7), or where such assessment

has been appealed, within fifteen days of the date when the

decision of the Financial Services Tribunal or the Court of Appeal

has become a res judicata, the assessment as contained in the notice

of the Scheme or as reduced or increased by the decision of the

Tribunal or the Court of Appeal shall be due to the Scheme.

(13) Upon the service of a copy of the notice or of the decision,

as the case may be, by means of a judicial act on the member

indicated in the notice or decision, the said notice or decision shall

constitute an executive title for all effects and purposes of Title VII

of Part I of Book Second of the Code of Organization and Civil

Procedure.

28. (1) The calculation of contributions shall take into account

previous contributions, where contributions raised prove either

more or less than the amount actually due in accordance with these

regulations.

(2) The Scheme may adjust the calculation of a member’s share

of any contribution to take proper account of any or all of the

following

(a) any excess or shortfall, not already taken into account,

between previous contributions of the same type

assessed in relation to previous financial years and the

relevant contributions actually due in that financial

year;

(b) amounts that the Scheme has not been able to recover

from members for any reason whatsoever;

(c) payments deferred under regulation 30;

(d) anything else that the Scheme believes on reasonable

grounds should be taken into account.

(3) The Scheme may reduce, remit, or refund any overpaid

contributions paid by a member in respect of any particular

calendar year, or adjust the calculation of a member’s share of any

contribution, wherever there is a mistake of law or of fact, unless

the reduction, remit, refund or adjustment is in respect of a

contribution which is prescribed in accordance with regulation

29(9).

(4) A member who ceases to be a member of the Scheme for

whichever reason shall not be entitled for any refund of payments

to the Scheme in respect of its contributions.

29. (1) A member shall pay to the Scheme its

(a) Compensation Contribution; and

(b) Management Expenses Contribution.

(2) A member’s contribution shall be due on, and payable

within, thirty days of the date of the notice of an assessment

pursuant to regulation 27(2).

(3) Where a member requests a reconsideration or files an

appeal against an assessment of the contribution or any relevant

risk factor, such request or appeal shall not delay the payment

deadlines set out in sub-regulation (2). Such member shall be

entitled to a refund from the Scheme of any amount of contribution

paid in excess of the amount which is agreed in accordance with

regulation 27(7), or where such assessment has been appealed, of

the amount which is finally determined as due by a decision of the

Financial Services Tribunal or the Court of Appeal which has

become a res judicata.

(4) If a member ceases, for any reason, to be a member part way

through a financial year of the scheme, it will remain liable for any

unpaid contributions.

(5) If a member does not pay the total amount of its

contribution, before the end of the date on which it is due, it shall

pay an additional amount to the Scheme as follows

(a) if the contributions was not paid in full before the end

of the due date, an administrative fee of five hundred

euro (€500); and

(b) interest on any unpaid part of the contribution at the

rate of 12% per annum, accruing on a daily basis from

the date on which the amount concerned became due.

(6) Where the Scheme decides to sue for the recovery of a

contribution, administrative fee or interest due to it by a member

under these regulations, the Chairperson or an officer of the

Scheme duly authorised by the Scheme to act on its behalf may

make a declaration on oath before the Court Registrar or before any

other officer authorised to administer the oath in judicial matters,

wherein he states the nature of the debt and the name of the

member and confirm that it is due.

(7) Saving the provisions of regulation 27(12), the declaration

referred to in sub-regulation (6) shall be served upon the member

by means of a judicial act and it shall have the same effect as a final

judgement of the competent court unless the member shall, within a

period of twenty days from service upon him of the said

declaration, oppose the claim by filing an application stating

precisely the reasons for such opposition and demanding that the

court declare the claim unfounded.

(8) The application filed in terms of sub-regulation (7) shall be

served upon the Scheme, which shall be entitled to file a reply

within a period of twenty days. The court shall appoint the

application for hearing on a date after the lapse of that period.

(9) Any action by the Scheme for the payment of any

contribution due by a member shall be barred by the lapse of a

period of prescription of two years from the date on which the

contribution was due.

30. (1) The competent authority may defer, in whole or in

part, a member’s obligation to pay a contribution if the competent

authority considers that such contributions would jeopardise the

liquidity or solvency of the member. Such deferral shall not be

granted for a longer period than six months but may be renewed

upon request of the member.

(2) Any contributions deferred pursuant to sub-regulation (1)

shall be paid when the payment no longer jeopardises the liquidity

and solvency of the member.

(3) Any such deferral shall suspend the period of prescription

set out in regulation 29(9).

31. (1) If a member is lawfully entitled to cease to be a

member and joins a DGS in another Member State, the Scheme

shall transfer the Compensation Contributions paid by that member

during the twelve months preceding the end of the membership to

the relevant DGS.

(2) If some of the activities of a member are transferred to

another Member State and become subject to a DGS in another

Member State, the Compensation Contributions paid by that

member during the twelve months preceding the transfer shall be

transferred to the relevant DGS in proportion to the amount of

covered deposits transferred.

(3) The provisions of the preceding sub-regulations shall not

apply

(a) if the member has been excluded from the Scheme

pursuant to regulation 22(6); or

(b) to Management Expenses Contributions; or

(c) to extraordinary Compensation Contributions pursuant

to regulation 25(2).

(4) If a member intends to transfer some or all of its activities

to another Member State, it shall give at least six months’ notice of

its intention to do so to the Scheme. During that period, the member

shall remain under the obligation to pay all contributions to the

Scheme pursuant to these regulations.

32. (1) The Scheme may place its available financial means in

a low-risk and sufficiently diversified manner.

(2) The Scheme may hold any amounts collected from

Management Expenses Contributions pursuant to regulation 26 and

any other funds managed and administered by it on deposit or may

invest such contributions, having regard to the need for prudence.

(3) Interest or any other form of income or gain earned by the

Scheme in respect of its assets held pursuant to sub-regulations (1)

and (2) shall be allocated to the Scheme’s reserves, including the

"Accumulated Fund" and the "Revaluation Reserve".

(4) The Management Committee may at any time, and at its

sole discretion, allocate any of the Scheme’s reserves held pursuant

to sub-regulation (3) to either of the class of funds representing the

Scheme’s available financial means or the Management Expenses

contributions.

33. (1) The available financial means shall be primarily used

in order to repay depositors pursuant to these regulations.

(2) The available financial means of the Scheme shall be used

in order to finance the resolution of members in accordance with

Directive 2014/59/EU. The Resolution Committee shall determine,

after consulting the Scheme, the amount by which the Scheme is

liable.

(3) The Scheme, in consultation with the competent authority,

may use the available financial means for alternative measures in

order to prevent the failure of a member provided that the following

conditions are met

(a) the Resolution Committee has not taken any resolution

action under Directive 2014/59/EU;

(b) the Scheme has appropriate systems and procedures in

place for selecting and implementing alternative

measures and monitoring affiliated risks;

(c) the costs of the measures do not exceed the costs of

fulfilling the statutory or contractual mandate of the

Scheme;

(d) the use of alternative measures by the Scheme is

linked to conditions imposed on the member that is

being supported, involving at least more stringent risk

monitoring and greater verification rights for the

Scheme;

(e) the use of alternative measures by the Scheme is

linked to commitments by the member being supported

with a view to securing access to covered deposits;

(f)

the ability of the members to pay the extraordinary

contributions in accordance with sub-regulation (5) is

confirmed in the assessment of the competent

authority.

The Scheme shall consult the Resolution Committee and

the competent authority on the measures and the conditions

imposed on the member.

(4) Alternative measures as referred to in sub-regulation (3)

shall not be applied where the competent authority, after consulting

the Resolution Committee, considers the conditions for resolution

action under Directive 2014/59/EU to be met.

(5) If available financial means are used in accordance with

sub-regulation (3), the members shall immediately provide the

Scheme with the means used for alternative measures, where

necessary in the form of extraordinary contributions, where

(a) the need to reimburse depositors arises and the

available financial means of the Scheme amount to

less than two-thirds of the target level;

(b) the available financial means fall below 25% of the

target level

Provided that until the target level has been reached for the

first time, the above thresholds shall apply in relation to the

available financial means.

(6) The Scheme, in consultation with the competent authority,

may decide that the available financial means may also be used to

finance measures to preserve the access of depositors to covered

deposits, including transfer of assets and liabilities and deposit

book transfer, in the context of insolvency proceedings, provided

that the costs borne by the Scheme do not exceed the net amount of

compensating covered depositors at the member concerned.

PART VI

Supplementary

34. (1) The Scheme may, in consultation with the competent

authority, lend to other DGSs within the European Union on a

voluntary basis, provided that it ensures that the following

conditions are met

(a) the borrowing DGS is not able to fulfil its obligations

under Article 9(1) of the Directive because of a lack of

available financial means;

(b) the borrowing DGS has made recourse to

extraordinary contributions referred in Article 10(8) of

the Directive;

(c) the borrowing DGS undertakes the legal commitment

that the borrowed funds will be used in order to pay

claims under Article 12 of the Directive;

(d) the borrowing DGS is not currently subject to an

obligation to repay a loan to other DGSs under this

regulation;

(e) the borrowing DGS states the amount of money

requested;

(f)

the total amount lent does not exceed 0.5% of covered

deposits of the borrowing DGS;

(g) the borrowing DGS informs the European Banking

Authority without delay and states the reasons why the

conditions set out in this sub-regulation are fulfilled

and the amount of money requested.

(2) The Scheme shall ensure that the loan shall be subject to the

following conditions

(a) the borrowing DGS must repay the loan within five

years. It may repay the loan in annual instalments.

Interest shall be due only at the time of repayment;

(b) the interest rate set must be at least equivalent to the

marginal lending facility rate of the European Central

Bank during the credit period;

(c) the Scheme must inform the European Banking

Authority of the initial interest rate and the duration of

the loan.

(3) The Scheme shall ensure that the contributions levied by

t he b or ro win g DGS ar e su ff ic ie nt to re i mb ur s e th e am ou nt

borrowed and to re-establish the target level as soon as possible.

35. (1) Where a member sets up a branch in another Member

State, the Scheme shall cover the depositors at such a branch. The

DGS of the host Member State shall repay the depositors of that

branch on behalf of the Scheme in accordance with the instructions

of the Scheme. The DGS of the host Member State shall not bear

any liability with regard to acts done in accordance with the

instructions given by the Scheme. The Scheme shall provide the

necessary funding prior to pay out and shall compensate the DGS

of the host Member State for the costs incurred.

(2) Depositors at a branch operating in Malta set up by a credit

institution established in another Member State shall be repaid by

the Scheme on behalf of the DGS in the home Member State. The

Scheme shall make repayments in accordance with the instructions

of the DGS of the home Member State. The Scheme shall not bear

any liability with regard to acts done in accordance with the

instructions given by the DGS of the home Member State. The DGS

of the home Member State shall provide the necessary funding

prior to pay out and shall compensate the Scheme for the costs

incurred. The Scheme shall also inform the depositors concerned on

behalf of the DGS of the home Member State and shall be entitled to

receive correspondence from those depositors on behalf of the DGS of

the home Member State.

(3) The Scheme shall exchange information referred to under

Article 4(7), (8) and (10) of the Directive with the DGSs in host

Member States. The restrictions set out in Article 4 of the Directive

shall apply to such exchanges of information.

(4)

In order to facilitate an effective cooperation between the

Scheme and DGSs in other Member States, with particular regard

to this regulation and to regulation 34, the Scheme and the DGSs in

other Member States shall have written cooperation agreements in

place. Such agreements shall take into account the requirements

laid down in Article 4(9) of the Directive.

(5) The Scheme shall notify the European Banking Authority

of the existence and the content of such agreements. If the Scheme

cannot reach an agreement with a DGS in a Member State or if

there is a dispute about the interpretation of an agreement, the

Scheme may refer the matter to the European Banking Authority in

accordance with Article 19 of Regulation (EU) No 1093/2010. The

absence of such agreements shall not affect the claims of depositors

under regulation 18(1) or of credit institutions under regulation

31(1).

(6) The Scheme shall ensure that appropriate procedures are in

place to enable the Scheme to share information and communicate

effectively with other DGSs, their affiliated credit institutions and

the relevant competent and designated authorities within their own

jurisdictions and with other agencies on a cross-border basis, where

appropriate.

(7) The Scheme may cooperate with other DGSs operating in

the European Union through a European scheme which may be set

up by the European Parliament and the Council to prevent risks

arising from cross-border activities and protect deposits from such

risks.

(1) For the purpose of enabling the Scheme and the

competent authority to carry out their respective functions and

duties, the Scheme and the competent authority may share and

exchange information and resources, and shall otherwise consult

and collaborate with one another. The duties of confidentiality shall

apply to any such communications.

(2) The competent authority shall inform the Scheme as soon as

possible in the event that the competent authority detects problems

in a member that are likely to give rise to the intervention of the

Scheme.

(1) The Scheme shall check that a branch established in

Malta by a credit institution which has its head office outside the

European Union has protection equivalent to that prescribed in

these regulations and, in particular, shall check that depositors of

that branch benefit from the same coverage level and scope of

protection as provided for in these regulations.

(2) Each branch established in Malta by a credit institution

which has its head office outside the European Union and which is

not a member of the Scheme shall provide to actual or intending

depositors at that branch all relevant information concerning the

existence or otherwise of guarantee arrangements for deposits held

in that branch.

(3) The information referred to in sub-regulation (2) shall be

made available in the language that was agreed by the depositor

and the credit institution when the account was opened or in an

official language of Malta and shall be clear and comprehensible.

A notice or other document to be given, provided or served

under these regulations shall be deemed to have been duly given or

served on a person if the requirements of article 187(1) and (4) of

the Code of Organization and Civil Procedure are complied with

Provided that a notice or other document may in all cases be

served by means of a judicial act, in which case the relevant

provisions of the Code of Organization and Civil Procedure shall

apply.

The Scheme shall communicate and correspond with a

depositor in any one of the official languages of Malta or in any

other official language of the European Union that is used by the

credit institution which holds the eligible deposit.

(1) The Scheme and its officers or agents shall be subject

to the provisions of the Professional Secrecy Act and shall keep

confidential any information obtained by them in the course of

performing their duties under these regulations, and shall not reveal

any information to any person, credit institution, association or

entity except as may be allowed by these regulations or any other

law or by Court order.

(2) The duty of confidentiality shall not be contravened in the

case of

(a) exchange of information between the Scheme, the

competent authority and the DGSs and, or competent

authorities in other Member States, provided that the

relevant information is necessary for the discharge of

their duties under these regulations; and

(b) any use or disclosure as may be required to enable the

Scheme and its officers or agents to perform their

duties and carry out their functions under these

regulations.

(1) Without prejudice to any other provision of these

regulations, a credit institution or any director or official thereof,

who fails to comply with the Scheme’s request for information

within the period of time established by the Scheme pursuant to

these regulations, or who knowingly or recklessly furnishes

information, or makes a statement which is inaccurate, false or

misleading in any material respect, shall, for every such failure, be

liable to an administrative penalty not exceeding one hundred and

twenty-five thousand euro (€125,000) as may be imposed by the

competent authority by means of a notice in writing and without

recourse to a court hearing.

(2) Where an administrative penalty has been imposed by the

competent authority in terms of this regulation, an appeal shall lie

to the Financial Services Tribunal in accordance with articles 10

and 35A of the Banking Act.

(1) The competent authority may issue banking rules to

credit institutions for the purposes of these regulations.

(2) Such banking rules may contain such incidental,

supplementary and consequential provisions as appear to the

competent authority to be expedient for the purpose of these

regulations.

The Scheme and officers or agents of the Scheme shall not

be liable in damages for anything done or omitted in the discharge

of functions under these regulations unless it is shown that the act

or omission was in bad faith.

(1) With effect from the date of entry into force of these

regulations, any reference in any law, regulation or administrative

provision to the Depositor Compensation Scheme Regulations,

2003, (hereinafter referred to as "the revoked regulations") shall,

for all intents and purposes, be construed as a reference to these

regulations.

(2) All appointments, decisions, contributions, claims,

payments or other acts made or taken under the revoked

regulations, before the coming into force of these regulations, shall

continue in force and shall be deemed to have been made or taken

under these regulations.

(3) All assets and liabilities which vested in the Scheme before

the coming into force of these regulations shall belong to the

Scheme in virtue of these regulations. Upon the coming into force

o f t h e s e r e g u l a t i o n s , a n y b a l a n c e s h e l d o n t h e S c h e m e ’s

"Contribution Fund" and on the "Special Contribution Fund" shall

be allocated to the available financial means of the Scheme, and in

determining the amount of compensation contribution due by any

m e m b e r, a c c o u n t s h a l l b e h a d o f t h a t m e m b e r ’s p r e v i o u s

contributions to the Scheme’s "Contribution Fund" and to the

"Special Contribution Fund".

(4) The Scheme shall require all of its members to inform their

depositors about the deposits or categories of deposits or other

instruments which will no longer be covered by the Scheme from

3rd July 2015.

(4) Any reference in any law, regulation or administrative

provision to Directive 94/19/EC as amended shall, for all intents

and purposes, be construed as a reference to Directive 2014/49/EU.