S.L. 371.11 Art. 18Applicability provisions.

(1) A legal person who, on the date of the coming into force of these regulations, was in possession of a licence issued by the competent authority which covers the provision of point 1 of Annex I to the CRD, incorporated in the Schedule to these regulations, and any other additional activities included in such Annex, shall be deemed to be a Maltese credit institution for the purposes of these regulations: Provided that such legal person conforms with all applicable Banking Rules issued by the said competent authority.

(2) Every licence issued after the coming into force of these regulations shall indicate whether the licence holder is a credit institution in terms of these regulations.

Part VII - Interpretation