S.L. 370.43 Art. 5Granting of a licence and non- application of article6(1)(a)(ii)of the Act.

(1) Without prejudice to article 6 of the Act, the competent authority shall only grant a licence to the third-country firm which intends to establish its branch in Malta when it is satisfied that:

(a) the conditions prescribed under regulation 3 of these regulations are fulfilled; and

(b) the branch of the third-country firm will be able to comply with the provisions referred to in regulation 6 and with the provisions of regulation 7A.

(2) The provisions of article 6(1)(a)(ii) of the Act, shall not apply in the licensing of a branch of a third-country firm.