S.L. 371.22 Art. 6Written coordination and cooperation agreements with European regulatory authorities.

(1) Where the competent authority is the consolidating supervisor, it shall have written coordination and cooperation arrangements in place with European regulatory authorities responsible for supervising the other members of the group.

(2) Under the arrangements made pursuant to sub-regulation (1), additional tasks may be entrusted to the competent authority as consolidating supervisor and procedures for the decision-making process and for cooperation with other European regulatory authorities may be specified. (CREDIT INSTITUTIONS)

(3) Where the competent authority is responsible for the licensing of the subsidiary of a parent undertaking which is a credit institution, it may, by bilateral agreement in accordance with Article 28 of Regulation (EU) No 1093/2010, delegate its responsibility for supervision of such subsidiary to the European regulatory authority which authorised and supervises the parent undertaking so that the latter assumes responsibility for supervising the subsidiary in accordance with the CRD. The competent authority shall forward the content of such agreements to the EBA.

(4) Where the competent authority is the consolidating supervisor, and a financial holding company or a mixed financial holding company that has been granted approval in accordance with article 11B of the Act is established in a Member State other than Malta, the co-ordination and co-operation arrangements referred to in sub-regulations (1) and (2) shall also be concluded with the European regulatory authority where the parent undertaking is established.

(5) Where the competent authority is not the consolidating supervisor, but a financial holding company or a mixed financial holding company has been granted approval in accordance with Article 21a of the CRD and is established in Malta, the coordination and cooperation arrangements referred to sub-regulations (1) and (2) shall be concluded with the European regulatory authority acting as the consolidating supervisor.