S.L. 514.8 Art. 34Breach of Malta’s requirements of social and labour law and information requirements.

If, despite the measures taken by the European regulatory authority of the European IORP or because those measures prove to be inadequate or are insufficient, the European IORP persists in breaching the applicable provisions of Malta’s requirements of social and labour law relevant to the field of occupational pensions or the information requirements, referred to in regulation 31(1), the competent authority may, after informing the European regulatory authority of the European IORP, take appropriate measures to prevent or penalise further irregularities, including, in so far as strictly necessary, preventing the European IORP from operating the occupational retirement plan for the sponsoring undertaking.