S.L. 514.8 Art. 31Notification of requirements of social and labour law and information requirements.

(1) Where the transfer results in a cross-border activity, the competent authority shall, within four weeks of receiving the decision referred to in regulation 30(3), inform the European regulatory authority of the European IORP of Malta’s requirements of social and labour law relevant to the field of occupational pension schemes under which the occupational retirement plan is to be operated and of the information requirements imposed by the competent authority, established by Pension Rules for Occupational Retirement Schemes, made under the Act, which shall apply to the cross-border activity.

(2) In terms of Article 12(11) of the Occupational Pensions Directive, the European IORP is to be notified of the requirements referred to in sub-regulation (1), within one (1) week of receiving the said information by the competent authority.

(3) The competent authority shall inform the European regulatory authority of the European IORP of any significant change in the requirements of Malta’s social and labour law relevant to the field of occupational pension schemes referred to in sub-regulation (1) which may affect the characteristics of the occupational retirement plan in so far as it concerns the cross-border activity, and of any significant change in Malta’s information requirements referred to in sub-regulation (1).