Cap. 376 чл. 8AAgency distribution arrangements..

(1) A financial institution intending to provide any of the activities referred to in the Schedules to this Act through an agent or, in the case of an electronic money institution intending to appoint a distributor to distribute or redeem electronic money, shall communicate the following information to the competent authority:

(a) the name and address of the agent and, or distributor;

(b) a description of the internal control mechanisms that will be used by the agent in order to comply with the obligations in relation to money laundering and the funding of terrorism under any anti-money laundering and combating the funding of terrorism legislation;

(c) the identity of directors and persons responsible for the management of the agent to be used in the provision of the activities referred to in the Schedules to this Act, and for agents other than payment service providers, evidence that they are fit and proper persons;

(d) the activities referred to in the Schedules to this Act that are carried out by the financial institution and for which the agent is mandated; and

(e) where applicable, the unique identification code or number of the agent or distributor: Provided that a person who is appointed as agent of a financial institution shall only act as agent in respect of those activities for which the financial institution to which he will act as agent, is licensed or registered under this Act.

(1A) In the event of material changes to the particulars communicated to the competent authority at the initial notification pursuant to paragraph (b) of sub-article (1), the financial institution concerned shall provide the competent authority with the updated information without delay.

(2) An electronic money institution shall not issue electronic money through agents:

Provided that an electronic money institution may, subject to such conditions as may be established by the competent authority, distribute and redeem electronic money through distributors.

(3) The competent authority may subject the person who will be appointed as agent to any of the obligations imposed on the financial institution under this Act.

(4) The competent authority shall, within two months of receipt of the information referred to in sub-article (1), communicate to the financial institution whether the agent has been entered in the public register referred to in article 8D:

Provided that, if the competent authority is not satisfied that the information provided is correct, it shall take further action to verify the information before entering the agent in the register:

Provided further that, if after taking action to verify the information, the competent authority is not satisfied that the information provided pursuant to sub-article (1) is correct, it shall refuse to enter the agent in the public register referred to in article 8D and shall inform the financial institution without undue delay.

(4A) An agent may only commence providing the relevant activities upon entry in the public register referred to in article 8D.

(4B) Where a payment institution or an electronic money institution intends to provide payment services in another Member State by engaging an agent or establishing a branch, it shall also follow the procedures set out in Article 28 of the Payment Services Directive.

(5) Where a financial institution licensed or holding an equivalent authorisation in another Member State carries out the activities listed in any of the Schedules in Malta through a branch or by engaging an agent or distributor, the financial institution shall follow the procedures established in any Financial Institutions Rule:

Provided that if the competent authority has reasonable grounds to suspect that, through such branch, agent or distributor, money laundering or the funding of terrorism is being or has been committed or attempted, or that the engagement of such branch or agent could increase the risk of money laundering or the funding of terrorism, it shall inform the Member State in which the financial institution is established, and may refuse to register the branch or agent, or may withdraw the registration of the branch or agent.

(6) Financial institutions shall, without undue delay and in accordance with the procedure provided for in sub-articles (4) and (4A), communicate to the competent authority any changes regarding the use of agents or distributors, including additional agents or distributors.

(7) A financial institution intending to provide its activities through an agent in a third country shall require the prior written approval of the competent authority.

(8) Financial institutions shall ensure that agents or distributors acting on their behalf inform their customers and potential customers of this fact.