S.L. 514.8 Art. 33Ongoing supervision.

Where the transfer results in a cross-border activity by the European IORP into Malta, the European IORP shall be subject to on-going supervision by the competent authority as to the compliance of the activities of the occupational retirement plan with Malta’s requirements of social and labour law relevant to the field of occupational pensions and information requirements, referred to in regulation 31(1). Where the competent authority identifies irregularities by the European IORP, the competent authority shall immediately inform the European regulatory authority of the European IORP of such irregularities. In terms of the Occupational Pensions Directive, the European regulatory authority of the European IORP shall, in coordination with the competent authority, take the necessary measures to ensure that the European IORP puts a stop to the detected breach.