S.L. 591.1 Art. 7Variations of purposes and other features.

(1) Any person to whom an innovative technology arrangements certification has been issued following an application under these regulations shall not effect any material changes to the certified innovative technology arrangements without having obtained the prior written approval by the Authority of any such amendment or substitution;

(2) The term "material changes" in sub-regulation (1) shall include: SERVICES (ITAS) CERTIFICATION

(a) any alterations to any innovative technology arrangements or parts thereof including, software, code or computer protocol to which the ITA certification applies, save for upgrades, maintenance, innovative evolution or the mere replacement of any supporting software which do not materially change the functionality, or have a material impact on the users of the innovative technology arrangements, or are not in breach of the regulatory principles of the Act or of the ITA certification;

(b) any development altering the rights of users;

(c) any changes introducing new risks, increasing any existing risks, or which may interfere with any risk mitigation mechanism in place;

(d) any development altering the rights, authorisation and powers of the Authority or any person authorised by the Authority;

(e) any alterations to the general purposes of the certified innovative technology arrangements or to matters on which the Authority has received assurances in connection with the issuing of the ITA certification;

(f) any alterations to matters which the Authority, in the ITA certification or documentation leading to the issuing of the ITA certification, specifically lists as requiring its authorisation prior to any changes being effected; or

(g) any other alterations that may be specified by the Authority and accessible through its website, from time to time.

(3) In addition to the above, in those circumstances in which an innovative technology service provider is, on a request of the Authority, providing services in relation to the process of the issuing of an ITA certification, the said service provider shall specify whether any envisaged substitution or amendment consists of a material change, in accordance with the meaning attributed to it in sub-regulation (2), or may have material impact on the users of the innovative technology arrangements or third parties, or affects the content of their review, assurances or declarations provided to the Authority for the purposes of the certification of the relevant innovative technology arrangements:

Provided that, to the extent that the changes result in additional elements which have not been reviewed and do not fall within the parameters of existing assurances and declarations issued by the said service provider, the said service provider shall carry out a review of the said additional elements, and provide the Authority with the relative assurances that the changes do not affect his previous declarations and evaluations of the certified innovative technology arrangements.

(4) The Authority may, prescribe mandatory notification in general or give directions as it may deem fit in the circumstances of the case.