S.L. 406.22 Art. 3Scope of the requirement to keep information.

(1) Payment service providers whose home Member

State or host Member State is Malta shall keep detailed information on payees and on payments in relation to the payment services they provide for each calendar quarter in Malta as set out in these regulations.

(2) The requirement referred to in sub-regulation (1) shall apply only to payment services provided as regards cross-border payments. A payment shall be considered a cross-border payment when the payer is located in a Member State and the payee is located in another Member State, in a third territory or in a third country.

(3) For the purposes of these regulations and without prejudice to the provisions of the Third Schedule to the Act, the location of the payer shall be considered to be in the Member State corresponding to the IBAN of the payer’s payment account or any other identifier which unambiguously identifies, and gives the location of the payer:

Provided that where the payment service provider has various identifiers available that provide a different location for the payer, the identifier which best reflects the location of the payer shall be chosen:

Provided further that in the absence of the identifiers referred to in the first paragraph of this sub-regulation, the Member State corresponding to the BIC or any other business identifier code that unambiguously identifies, and gives the location of the payment service provider acting on behalf of the payer shall be considered to be the location of the payer.

(4) For the purpose of these regulations and without prejudice to the provisions of the Third Schedule to the Act, the location of the payee shall be considered to be in the Member State, third territory or third country corresponding to the IBAN of the payee’s payment account or any other identifier which unambiguously identifies, and gives the location of the payee:

Provided that where the payment service provider has various identifiers available that provide a different location for the payee, the identifier which best reflects the location of the payee shall be chosen:

Provided further that in the absence of the identifiers referred to in the first paragraph of this sub-regulation, the Member State, third territory or third country corresponding to the BIC or any other business identifier code that unambiguously identifies and gives the location of the payment service provider acting on behalf of the payee shall be considered to be the location of the payee.