Cap. 371 чл. 6Application for a licence.

(1) Any company desirous of commencing the business of banking in Malta shall, before commencing any such business, apply in writing to the competent authority for a licence under this

Act:

Provided that the entities listed in the Second Schedule shall not be required to apply to the competent authority for a licence under this Act, and the provisions of this Act and of any regulations made and, or any Banking Rules and, or Conduct of Business Rules issued thereunder, and the CRR shall accordingly not apply thereto, unless otherwise specifically provided for in this Act, or in any regulations made or Banking Rules or Conduct of Business Rules issued thereunder.

(2) All applications for a licence shall be in such form and accompanied by such information, including a programme of operations setting out the types of business envisaged and the structural organisation of the credit institution, an indication of the parent undertakings, financial holding companies and mixed financial holding companies within the group and a description of the arrangements, processes and mechanisms referred to in article 17B, and shall conform with such requirements as may be prescribed from time to time by a Banking Rule. Such requirements shall be notified to the EBA:

Provided that before a licence is granted or refused, an application may only be withdrawn by written notice to the competent authority.

(3) The competent authority shall have the power to require any person to provide such information as it shall deem necessary for the purposes of determining an application for a licence or for the purposes of determining whether to restrict or withdraw a licence.

(4) The competent authority shall not consider the economic needs of the market as a criterion when examining an application for a licence.