S.L. 583.6 Art. 9Grounds for suspension.

(1) The Authority shall have the power to suspend an authorisation in the following instances:

(a) the Authority is satisfied that the authorised person, or a person holding a direct or indirect interest in the authorised person, or a person holding a key function in the authorised person, is not, or has ceased to be, in the opinion of the Authority, fit and proper to hold such authorisation;

(b) the authorised person has failed to comply with an order issued by the Authority;

(c) the authorised person has failed to comply with one or more applicable obligations in terms of any regulatory instrument or any other applicable law of Malta;

(d) the authorised person has failed to discharge financial commitments for its operations or the Authority has reason to believe that such failure is imminent;

(e) in the case of a natural person, the authorised person becomes incapable of exercising his or her functions as an authorised person due to physical and, or mental incapacity or for any other reason;

(f) the authorised person is bankrupt, insolvent or is being wound up;

(g) the authorised person applies for an order, or is compelled by any means or for any reason, to discontinue or to wind up its operations;

(h) the authorised person is in breach of the laws or regulations at any time in force for the prevention of money laundering and financing of terrorism;

(i) the authorised person has failed to meet commitments to players in a timely manner, or the Authority has reason to believe that such failure is imminent;

(j) circumstances arise which, had they been present and known to the Authority at the time of issuance of the authorisation, would have led the Authority not to issue such authorisation;

(k) the authorised person has failed to seek the prior approval of the Authority of any material change where such prior approval is required in terms of any regulatory instrument, or has failed to notify the Authority of such material change where such notification is required;

(l) the authorised person has failed to pay in a timely manner all amounts due to the Authority; or

(m) the Authority, in its sole discretion, has determined that there is material and sufficient reason for suspending the authorisation.

(2) (a) Where a ground for suspension of the authorisation arises in terms of sub-regulation (1), the Authority shall, by notice in writing, give the authorised person an amount of time, being not less than twenty days, to show cause why the authorisation should not be suspended.

(b) Where a ground for suspension of the authorisation in terms of sub-regulation (1) is deemed to exist following a formal investigation and the authorised person has already been granted a period of time to contest the findings of such investigation in terms of regulation 7(6), the time period mentioned in paragraph (a) shall not be applicable:

Provided that, notwithstanding the above and any other provision in any regulatory instrument or any other law, the Authority shall have the right to suspend an authorisation with immediate effect, by written notice to the authorised person and without giving the authorised person time to show cause why the authorisation should not be suspended, where it determines that there exist exceptional grounds for doing so, including but not limited to:

(i) when the Authority becomes aware that the authorisation was obtained by one or more materially false or misleading representations or in some other improper way; or

(ii) when the authorised person presents an imminent threat to the reputation of Malta; or

(iii) when the authorised person presents an imminent threat of serious prejudice to the interests of players or to public or national interest.