|
|
Home
| Databases
| WorldLII
| Search
| Feedback
Maltese Laws |
INSURANCE BUSINESS ACT (CAP. 403)Insurance Business (Penalties for Offences and Infringements) (Amendment) Regulations, 2010
IN exercise of the powers conferred by articles 64 and 67 of the Insurance Business Act, the Minister of Finance, the Economy and Investment, after consultation with the Malta Financial Services Authority, has made the following regulations:-
1. The title of these regulations is the Insurance Business (Penalties for Offences and Infringements) (Amendment) Regulations, 2010, and they shall be read and construed as one with the Insurance Business (Penalties for Offences and Infringements) Regulations, hereinafter referred to as "the principal regulations".2. In the Third Schedule to the principal regulations, the words in the First Column "article 67(1) with reference to 38(1)", "article 67(1) with reference to 38(4)", "article 67(1) with reference to 38(6)" and "article 67(1) with reference to 38(7)" and the corresponding words in the Second and Third Columns thereof shall be deleted.3. In the Fourth Schedule to the principal regulations, immediately after the words "35(7)" in the First Column and the corresponding words in the Second and Third Columns thereof , there shall be inserted the following:Citation.
S.L. 403.06
Amends the Third Schedule to the principal regulations.
Amends the Fourth Schedule to the principal regulations.
First Column | Second Column | Third Column |
Article | Offence | Penalty |
"38(1) | Failure of person to notify the Authority of a decision to acquire or increase a qualifying shareholding in an authorised company; or to furnish the information required to be furnished as may be determined by an insurance rule | 2 |
38(2) | Failure of person to notify the Authority of a decision to reduce or divest itself of a qualifying shareholding in an authorised company; or to furnish the information required to be furnished as may be determined by an insurance rule | 2 |
38(4) | Failure of company and its directors to notify the Authority of a person’s intention to acquire, increase, reduce or divest itself of a qualifying shareholding in the company | 2 |
B 632
38C(2) Failure of directors and qualifying shareholders 2 of an authorised company to notify the Authority where the company intends to merge
with another company, or to undergo reconstruction or division, or to increase or reduce its nominal or issued share capital or to
effect any material change in voting rights".
Ippubblikat mid-Dipartiment tal-Informazzjoni (doi.gov.mt) Valletta - Published by the Department of Information - (doi.gov.mt) - Valletta
Mitbug] fl-Istamperija tal-Gvern fuq karta ri`iklata - Printed at the Government Printing Press on recycled paper <.. image removed ..>
Prezz/Price
€0.09
WorldLII:
Copyright Policy
|
Disclaimers
|
Privacy Policy
|
Feedback
URL: http://www.worldlii.org/mt/legis/laws/iba403ibfoair201061o20101030