S.L. 370.46 Art. 5Notifications in emergency situations.         Cap. 330.

(1) Where an emergency situation, including a situation as described in Article 18 of Regulation (EU) No 1093/2010

or a situation of adverse developments in markets arises, which potentially jeopardises the market liquidity and the stability of the financial system in any of the Member States where entities of a group have been authorised or where significant branches as referred to in regulation 14 are established and where the competent authority is the consolidating supervisor, it shall, subject to confidentiality requirements in the Malta Financial Services Authority Act and any other applicable law, alert as soon as is practicable the EBA and the authorities referred to in Articles 58(4) and 59 of the CRD and it shall communicate to the said authorities all the information that is essential for the pursuance of their tasks.

(2) To the extent possible, the competent authority shall use existing channels of communication with ESCB central banks.

(3) Where the competent authority is the consolidating supervisor, it shall, when it needs information which has already been given to a European regulatory authority, contact this authority, whenever possible, in order to prevent duplication of reporting to the various authorities involved in supervision.