S.L. 371.4 Art. 5Conditions.

(1) A representative office must:

(a) keep its activities separate from those of any other undertaking, financial or otherwise, operating in or from Malta;

(b) have its office distinctly located from the office of any other undertaking whether financial or otherwise;

(c) have its own employees who may not also be employees, officers or directors of any financial undertaking operating in or from Malta.

(2) Should a foreign bank with a representative office in Malta take a significant equity position (of at least 5% as defined in article 2 of the Act) in any type of a financial undertaking operating in or form Malta, it should immediately notify in writing the competent authority.