S.L. 370.18 Art. 11Cooperation with European regulatory authorities.

(1) Where the European regulatory authority of the

UCITS host Member State makes a request to the competent authority in accordance with Article 98(3) of the UCITS Directive, as transposed in national law, to exercise, without delay, any of its powers in accordance with Article 98(2) of the UCITS Directive, other than paragraph (j) thereof as transposed in the Act, the competent authority shall, without undue delay, inform such European regulatory authority, ESMA, and if there are potential risks to the stability and integrity of the financial system the ESRB, of the powers exercised and its findings.

(2) Where Malta is the UCITS host Member State, the competent authority may, where it has reasonable grounds for doing so, request the European regulatory authority of the UCITS home Member State or EEA State to exercise, without delay, powers pursuant to Article 98(2) of the UCITS Directive, other than paragraph (j) thereof, as transposed in national law, specifying the reasons for its request in as specific a manner as possible and informing ESMA, and if there are potential risks to the stability and integrity of the financial system the ESRB thereof.