S.L. 514.8 ст. 13Prohibition or restriction of the activities of a Maltese IORP.

(1) The competent authority may prohibit or restrict the activities of a Maltese IORP, if the Maltese IORP does not comply with the requirements of social and labour law of the host Member State relevant to the field of occupational pensions.

(2) The competent authority may also restrict or prohibit the free disposal of the assets of the Maltese IORP when, in particular:

(a) the Maltese IORP has failed to establish sufficient technical provisions, as applicable, in respect of the entire business or has insufficient assets to cover the technical provisions; or

(b) the Maltese IORP has failed to hold the regulatory own funds, as applicable.

(3) Any decision by the competent authority in terms of this regulation shall be supported by detailed reasons and notified to the Maltese IORP in question. Such decision shall also be notified to EIOPA.