S.L. 371.12 Art. 9Branches of third- country credit institutions - information foreignauthority other host States.

(1) Where, upon receipt of an application to adopt a decision on a reorganisation measure in relation to a branch present in Malta of a credit institution having its head office outside a in 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: Provided that where the reorganisation measure involves a company recovery order in terms of the Companies Act, the provisions of article 329B(3)(d) of the Companies Act shall apply.

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

(a) any compromise or arrangement in terms of article 327 of the Companies Act; or

(b) a company recovery order and appoints a special controller in accordance with article 329B 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, it shall, in turn without delay and by any means available communicate the information outlined above 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.

(4) The administrative or judicial authorities referred to in this regulation shall endeavour to coordinate their actions.

(5) The duties provided for in this regulation are supplemental to and without prejudice to the duties of the Registrar of Courts as stipulated in article 329B(13)(a) to (c) of the Companies Act.