S.L. 371.12 Art. 2Scope.

(1) These regulations apply to Maltese credit institutions and their branches located in other Member States or EEA States and Part IV of these regulations applies to branches present in

Malta of credit institutions authorised in another Member State. These regulations shall not apply to those branches of credit institutions that are situated in a Member State or an EEA State in which they have their head offices.

(2) In the event of application of the resolution tools and exercise of the resolution powers provided for in the Act and any relevant regulations made thereunder transposing the BRRD, these regulations shall also apply to the financial institutions, firms and parent undertakings falling within the scope of the BRRD in the event of application of the resolution tools and exercise of the resolution powers provided for in the said Directive.

(3) The provisions of these regulations do not apply to post office giro institutions or to the Central Bank of Malta or to any central bank of any other Member State or EEA State.

(4) The institutions listed in the Schedule shall not be considered European credit institutions for the purposes of these regulations, and the provisions of these regulations do not apply to them.

(5) The provisions of these regulations relating specifically to the branches of a credit institution not having a head office within a Member State or an EEA State apply only where such institution has branches in at least two States being either a Member State or and EEA State.

(6) Where a credit institution is either under resolution or where the conditions for resolution have been determined by the Resolution Committee to be met, normal insolvency proceedings shall not be commenced except at the initiative of the Resolution Committee, and a decision placing a credit institution into normal insolvency proceedings shall be taken only with the consent of the Resolution Committee as provided for in regulation 86 of the Recovery and Resolution Regulations made under the Malta

Financial Services Authority Act.

(7) These regulations shall only apply to reorganisation measures or winding-up proceedings adopted immediately after the date of coming into force of these regulations. PRELIMINARY