Cap. 331 Art. 52Power to issue rules.

(1) The Authority may issue rules governing trustees, whether authorised or not required to obtain authorisation in terms of this Act, the operations of trustees in Malta, and on the qualifications to act as trustees. The rules shall be binding on the trustees and other persons as may be specified therein. The rules may lay down additional requirements and conditions in relation to the activities of trustees, their responsibilities to the Authority, a code of conduct, and any other matters as the Authority may consider appropriate, including the form and content of accounting records to be kept by trustees.

(2) The Authority may also issue rules to establish which activities constitute administrative services in relation to trusts and to establish the criteria for the conduct of these activities.

(3) The Authority may also issue rules to regulate trustees which are subject to a registration procedure in terms of article 43B. The rules may lay down additional requirements and conditions in relation to the activities of such trustees, their responsibilities to the Authority, adherence to a code of conduct and any other matter as the Authority may consider appropriate.