S.L. 371.12 Art. 37European credit institutions or branches of European credit institutions located in Malta.

(1) From the date of coming into force of these

* regulations , the Court may not, in relation to a European credit institution or any branch of a European credit institution -

(a) make a winding-up order pursuant to article 224 of the

Companies Act; or

(b) adopt reorganisation measures or perform any act ancillary to the adoption of such measures in terms of

Part VI of the Companies Act.

(2) Sub-regulation (1)(a) does not prevent -

(a) the Court from making a winding-up order after the coming into force of these regulations in relation to a European credit institution or any branch of a European credit institution if -

(i) a provisional administrator was appointed in relation to the European credit institution or any branch of a European credit institution before the coming into force of these regulations; and

(ii) the appointment continues in force until immediately before that winding-up order is made;

(b) the winding-up of a European credit institution or any branch of a European credit institution after the coming into force of these regulations pursuant to a winding-up order which was made, and has not been discharged, before that date.

(3) Sub-regulation (1)(b) does not prevent a provisional administrator of a European credit institution appointed before the coming into force of these regulations, from acting in relation to such institution after that date.