S.L. 591.1 Art. 12Appointment of resident agent.

(1) When an applicant for an innovative technology arrangements certification to be issued by the Authority is not habitually resident in Malta, it may be required by the Authority to appoint, a resident agent who:

(a) is habitually resident in Malta;

(b) is not interdicted or incapacitated or is an undischarged bankrupt;

(c) has not been convicted of any of the crimes affecting public trust or of theft or of fraud or money laundering or of knowingly receiving property obtained by theft or fraud; and

(d) has satisfied the Authority that he is a person capable of carrying out the functions provided for in terms of these regulations.

(2) A legal person and a legal organisation having a separate legal personality shall be considered as not being habitually resident in Malta for the purposes of this regulation if none of:

(a) the members of its board of administrators or secretary; and

(b) its senior officers, being the chief executive officer, the chief operations officer or its chief technology officer;

are habitually resident in Malta.

(3) Notices of the appointment, including the terms of engagement, resignation or removal of the resident agent shall be filed with the Authority in the prescribed form, and until such form is issued SERVICES (ITAS) CERTIFICATION

by the Authority, by means of a notification in writing and, where a notice of appointment is given, it shall be accompanied by the acceptance in writing of the resident agent of such appointment.

(4) The Authority may, at any time, refuse or reject any notice of an appointment which it considers is not in compliance with these regulations, and in such case, the innovative technology recognition holder or applicant, as the case may be, shall immediately propose another resident agent.