S.L. 623.9 Art. 14Eligibility.

(1) The applicant shall satisfy the requirements as stipulated:

(a) is a natural person over twenty one (21) years of age and is habitually resident in Malta, or in any Member State; or

(b) is an entity;

(2) The Committee shall be satisfied that the applicant:

(a) fulfils the requirements for a licence as specified in regulation 15; and

(b) is in possession of the necessary criteria thresholds established in Schedule II; and

(c) provides sufficient evidence of sound knowledge of the subjects listed in item 1 of Parts A, B and C of Schedule II respectively; and

(d) is a natural person of good repute and conduct and of appropriate financial standing or an entity where each of the directors is of good repute and conduct and the said entity is of appropriate financial standing.

(3) A person or entity shall not be deemed to satisfy the requirement of good repute and conduct if the applicant:

(a) has been convicted of serious criminal offences during the last five (5) years, which are offences of misappropriation and fraud; or

(b) has been convicted by a competent Court in the past two (2) years of committing an offence in accordance with the provisions of the Act or any regulations made thereunder; and

(c) has been convicted of any corresponding offence under any law of a country or territory outside Malta:

Provided that if the applicant was less than eighteen (18) years old when he was found guilty, the period mentioned in paragraphs (a) and (b) shall be of two (2) and one

(1) year respectively.

(4) A person or entity may be licensed to assume the exercise of more than one (1) service activity listed in Schedule I in which case a separate application form and the supporting documentation specified in these regulations shall be submitted by them, for each respective service activity, together with such other information and documentation as may be requested by the Committee to be submitted to reach a determination on the application.