Cap. 450 чл. 51Powers of the Authority. Cap. 370.

(1) The administration of this Act shall be vested in the Authority. The Authority shall perform such other functions as the Minister may consider appropriate in relation to the operation of this Act.

(2) The Authority shall have the power to carry out the functions assigned to it by or under this Act and to ensure that the provision of retirement schemes and retirement funds complies with this Act and with any regulations made thereunder, with any directive made by the Authority in virtue of this Act, and with the conditions specified in any registration of a scheme.

(3) The Authority may make, amend or revoke directives as may be required for carrying into effect any of the provisions of this Act and of any regulations made thereunder. Such directives, amendment and revocations may relate to a particular class of persons or situations or to persons and situations generally.

(4) All directives and any amendment or revocation thereof shall be officially communicated to the persons concerned and be open to public inspection in all the offices of the Authority at all times during the normal working hours of the Authority.

(5) The Authority shall enjoy the powers assigned to the competent authority in terms of articles 15 and 16 of the Investment

(a) the power to impose, revoke or vary conditions on the registration of a scheme or a retirement fund made pursuant to the provisions of articles 7(3) and 8(3);

(b) the power to cancel or suspend a registration under articles 11 and 12;

(c) the powers of inquiry under article 52;

(d) the power to appoint inspectors under article 53;

(e) the powers of intervention under subarticle (5) of this article;

(f) the powers of entry under subarticle (5) of this article;

(g) the power to communicate to the overseas regulatory authority information which is in the possession of the Authority, whether or not as a result of the exercise of any of the above powers.

(7) The Authority shall exercise powers by virtue of this article:

(a) where the assistance is requested by the overseas regulatory authority for the purpose of the exercise of one or more of its regulatory functions; or

(b) where so required within the terms of Malta’s international commitments; or

(c) where so required within the terms of undertakings assumed in bilateral or multilateral agreements for the exchange of information and other forms of collaboration with overseas regulatory authorities including a request arising under a memorandum of understanding concluded with the Authority.