S.L. 514.8 Art. 5Application to the competent authority.

(1) Where the competent authority receives a notification by a Maltese IORP proposing to carry out cross-border activity and to accept sponsorship as referred to in regulation 4, it shall, before granting its approval, be satisfied that the Maltese IORP meets the conditions described in sub-regulation (2) of this regulation.

(2) The conditions to be met under sub-regulation (1) are:

(a) that the Maltese IORP is registered in the register referred to in article 9 (11) of the Act; and

(b) the matters set out in Articles 10(1)(a) and (b), 13(4), 22(1) and 37(1) of the Occupational Pensions Directive are satisfied.

(3) When giving such authorisation, the competent authority shall immediately inform EIOPA.