S.L. 371.12 Art. 19Branches of third- country credit institutions.

(1) Where, upon receipt of an application to adopt a decision or order to commence winding-up procedures of a branch present in Malta of a credit institution having its head office situated outside a Member State or EEA State, the Court shall inform the competent authority regarding this request in order to obtain its views on the adoption of such measure and the practical effects which it may have.

(2) Where the Court makes a decision, order or appointment of any of the following kinds -

(a) a winding-up order under article 219 of the Companies

Act; or

(b) the appointment of a provisional administrator under article 228 of the Companies Act;,it must immediately inform the competent authority, or cause the competent authority to be informed without delay of the decision, order or appointment which has been made.

(3) Where the competent authority is informed of a decision, order or appointment in accordance with this regulation, the competent authority shall in turn, without delay and by any means available communicate such information to the foreign authorities of any other host State in which the credit institution has set up branches which are included on the list referred to in Article 20 of the CRD and published each year in the Official Journal of the European Union, and shall inform the foreign authority of the decision to open winding-up procedures and the practical effects of such. The competent authority shall also advise the foreign authority of any other host States that the authorisation of the branch has been withdrawn.