S.L. 487.9 Art. 8Fees in relation to European intermediaries. S.L. 487.07.   S.L. 487.07.        S.L. 487.07.

(1) A European intermediary that intends to establish a branch in Malta in accordance with regulation 3 of the

European Passport Rights for Intermediaries Regulations shall, upon being notified by the European regulatory authority of its home Member State in accordance with Article 6(2) of the Insurance Distribution Directive, as transposed in national law, pay the competent authority a notification fee of one thousand euro (€1,000).

(2) A European intermediary that has established a branch in Malta in accordance with regulation 3 of the European Passport

Rights for Intermediaries Regulations shall, subject to the provisions of sub-regulation (3), pay to the competent authority an annual supervisory fee as established in the Second Schedule, as applicable.

(3) The first annual supervisory fee due in accordance with the provisions of sub-regulation (2) shall be paid to the competent authority on the date when the branch of the European intermediary is established and commences distribution activities in Malta in accordance with the regulation 3(5) of the European Passport Rights for Intermediaries Regulations and annually thereafter on the date when such branch was established and commenced distribution activities in Malta in accordance with the said provision.