S.L. 371.23 Art. 3Competent authority. Cap. 330.

(1) The Authority established by the Malta Financial

Services Authority Act shall be the designated competent authority in

Malta responsible for the implementation of the Consumer Credit Directive, insofar as applicable to credit institutions duly licensed by the same.

(2) The Authority shall, with respect to credit agreements marketed, distributed or sold in or from Malta, monitor the compliance of creditors and credit intermediaries with the provisions of these regulations and the Rules made thereunder.

(3) For the better implementation of the Consumer Credit Directive, the Authority may exercise any of the powers assigned to it under the Act.

(4) For the better carrying out of these regulations, the Authority may, from time to time, issue and publish Conduct of Business Rules, in accordance with article 4 of the Act, and such Rules shall be binding on creditors and other persons as may be specified therein.