S.L. 386.27 Art. 22Additional requirements when the foreign converting company is a licensed or public company. Licensed companies. Public Companies

In addition and without prejudice to the requirements of regulation 21(2), the following requirements shall also apply to foreign converting companies carrying out a licensable activity and foreign converting companies which are public companies:

(1) Where the foreign converting company carries on, in or from the departure jurisdiction, a business which, if conducted in or from within Malta, would require to be licensed or authorized in terms of any law in Malta, and the foreign converting company is licensed or authorised by a competent authority in the departure jurisdiction, evidence that the foreign converting company has notified that competent authority of its intention to be registered in Malta in terms of these regulations shall be required and, if the said notification is not written in the English language, a translation thereof in the English language, certified to be a correct translation shall be required;

(2) Notwithstanding the license or authorization by the competent authority in the departure jurisdiction, all foreign converting companies intending to carry on a licensable activity in or from Malta shall require a licence or other authorization in terms of law from the competent authority in Malta before commencing operations.

(3) Where the foreign converting company is a public company:

(a) if the foreign converting company has offered its shares or debentures to the public, the most recent prospectus or equivalent document complying with the requirements of the Act shall be required; and

(b) if the foreign converting company is quoted on a recognised stock exchange, evidence to the satisfaction of the Registrar that the foreign converting company has notified the relevant authorities of that exchange of its intention to be registered in terms of these regulations shall be required and, if the notification is not written in the English language, a translation thereof in the English language, certified to be a correct translation shall be required; and for the purposes of this paragraph "recognised stock exchange" means a stock exchange recognised by the relevant authorities in the departure jurisdiction;

(c) such evidence of the current membership of the foreign converting company, or the method and form of recording such membership, authenticated in such a manner as the Registrar may require, as the Registrar accepts as adequate for compliance with the requirements of this regulation in respect of a list of members of that foreign converting company.