S.L. 591.1 Art. 15Resignation or removalofresident agent.

(1) A resident agent may resign from his position as a resident agent by giving at least thirty days’ (30) notice, or such other shorter period as the innovative technology arrangements certification holder, or the Authority may consent to in writing.

(2) The innovative technology arrangements certification holder or applicant may remove the resident agent by giving at least thirty days’ (30) notice, or such other shorter period as the Authority may consent to in writing.

(3) The Authority shall have the power to appoint, on a limited and temporary basis, a resident agent on behalf of the innovative technology arrangements certification holder in case the post of a resident agent is vacant for more than five (5) working days and the innovative technology arrangements certification holder has failed to fill that vacancy within said time. Such resident agent shall seek to establish contact with the persons who have duties in relation to the governance of the innovative technology arrangements in order that they shall appoint a resident agent of their choice:

Provided that in such case as provided in sub-regulation (4), the appointee shall be an advocate with a warrant to practice law in Malta.

(4) Where the ITA certification holder or applicant is in default of his obligations under these regulations in that the position of a resident agent is vacant and the Authority, pursuant to sub-regulation (3), did not appoint a temporary resident agent within the period stipulated in the guidelines accessible through the website of the Authority, the said Authority may, without prejudice to any other action that may be taken under these regulations, apply to the Civil Court, First Hall for the appointment of a curator to act as resident agent until such time as another resident agent is appointed by the Court or the innovative technology arrangements certification ceases to have effect.