S.L. 371.4 Art. 3Permitted activities.

(1) The business of a representative of office must be confined solely to the conduct of purely liaison activities and must not include the engagement in financial transactions or the execution of any documents relative thereto, except where necessary for and incidental to the maintenance of the office in Malta.

(2) For the purpose of subregulation (1), liaison activities can take the form of:

(a) the provision, upon request, of factual information relating to the products and services of the bank which the representative office represents;

(b) the conduct of research work into the economy of Malta to inform Head Office accordingly;

(c) liaison with Maltese customers of the bank which the representative office represents;

(d) the undertaking of credit assessments on reports on Maltese entities for any business with the bank that the representative office represents.