Cap. 370 Art. 3Requirement of licence for investment services.

(1) No person shall provide, or hold himself out as providing, an investment service in or from within Malta unless he is in possession of a valid investment services licence.

(2) No body corporate, unincorporated body or association formed in accordance with or existing under the laws of Malta, shall provide or hold itself out as providing an investment service in or from within a country, territory or other place outside Malta unless it is in possession of a valid investment services licence.

(3) The competent authority may by notice in writing to any person determine that -

(a) a service falls within the First Schedule when provided in relation to an instrument;

(b) an instrument, contract or right falls within the Second Schedule and whether or not issued in Malta; or

(c) a service falls within the Third Schedule; and subject to any appeal under article 19 with respect to such person the determination by the Competent Authority unless over ruled by the Tribunal shall be conclusive for all purposes of this Act.