S.L. 330.6 Art. 15Management body of mixed financial holdings.

(1) The Authority may require persons who effectively direct the business of a mixed financial holding company with its head office in Malta to submit to the Authority such information, including that relating to qualifications and experience, as it may require in respect of the following:

(a) any of its shareholders;

(b) its directors;

(c) those persons who, in the opinion of the Authority, effectively direct the business; and

(d) the holders of such managerial posts as the Authority may specify.

(2) Where it appears to the Authority that a person referred to in sub-regulation (1) is not fit and proper to hold that position, the Authority may decide that, as long as that person holds the position, the mixed financial holding company with its head office in Malta shall take such action as the Authority deems appropriate and such mixed financial holding company shall comply with that decision.

(3) Every proposal to appoint a director, chief executive or holders of such managerial posts by a company referred to in sub-regulation (1) shall be notified to the Authority and shall not be made if the Authority objects to the proposal on the ground that the person proposed is not deemed fit and proper for the post.