S.L. 371.11 чл. 15Contraventions by Maltese credit institutions.

(1) Where Malta is the home Member State and the competent authority is notified by a European regulatory authority that a Maltese credit institution carrying out its activities in the relevant host Member State through a branch or by providing services, fulfils any one of the following conditions, it shall, without delay, take all appropriate measures to ensure that the Maltese credit institution concerned remedies its non-compliance or takes measures to avert the risk of non-compliance:

(a) if the credit institution does not comply with the national provisions of the host Member State transposing the CRD, with any binding legal instruments issued under the CRD or with the CRR;

(b) if there is a material risk that the credit institution will not comply with the national provisions of the host Member State transposing the CRD, with any binding legal instruments issued under the CRD or with the CRR.

(2) The competent authority shall communicate such measures taken in accordance with sub-regulation (1) to the European regulatory authority of the host Member State without delay.

(3) Where Malta is the home Member State and the European regulatory authority of the host Member State takes precautionary measures in terms of Article 43 of the CRD, the competent authority may:

(a) object to such precautionary measures;

(b) refer the matter to the EBA; and

(c) request the EBA’s assistance in accordance with Article 19 of Regulation (EU) No 1093/2010.

(4) Any measures taken in accordance with sub-regulation (1) or sub-regulation (3) involving penalties or restrictions on the exercise of the freedom to provide services or the freedom of establishment shall be properly reasoned and communicated to the credit institution concerned.

(5) In the event of withdrawal of a licence by the competent authority of a Maltese credit institution, the competent authority shall notify the European regulatory authorities of the host Member State without delay.

Part IV - Collaboration between Regulatory Authorities