S.L. 370.50 Art. 4Applicabilityofthe Cross-Border Distribution of Funds Regulation to the competent authority.

(1) The competent authority shall exercise all the functions, obligations and powers and shall satisfy all the requirements imposed on competent authorities by the Cross-Border Distribution of

Funds Regulation.

(2) Without prejudice to sub-regulation (1), the competent authority may, for the better implementation of the Cross-Border Distribution of Funds Regulation, exercise any of the powers assigned to it under the Act and any regulations, Investment Services Rules and, or Conduct of Business Rules issued thereunder.