Cap. 529 чл. 6Power of the Authority to cancel an authorisation or registration.

(1) The Authority may, at any time, cancel an authorisation or registration granted in terms of this Act where:

(a) the authorised or registered person is no longer deemed to be a fit and proper person;

(b) the authorised or registered person has contravened any of the provisions of this Act or any regulations or rules made thereunder or has failed to satisfy or comply with any obligation or condition to which such authorised person or registered person, or the authorisation or registration granted thereto, as applicable, is subject by virtue of this Act or any regulations or rules issued thereunder, including any breach in relation to the authorised or registered person’s governance and control framework;

(c) the authorised or registered person or someone acting on behalf of such authorised or registered person has knowingly supplied the Authority with information that is false, inaccurate or misleading;

(d) the authorised or registered person has ceased to act as a company service provider or a limited company service provider, as applicable;

(e) the cancellation of such authorisation or registration, as applicable, is considered desirable for the protection of the general public or the reputation of Malta;

(f) the authorised or registered person has so requested;

(fA) the authorised or registered person is found liable, by the Financial Intelligence Analysis Unit, for a serious, repeated or systematic breach of the Prevention of Money Laundering Act and, or of any regulations issued thereunder; or

(g) there are other circumstances under which the Authority would have been precluded from granting an authorisation or registration under this Act or where the Authority would have otherwise refused the granting of such authorisation or registration, as applicable.

(2) The Authority shall make public the fact that an authorisation or registration granted under this Act has been cancelled.

(3) Any person whose authorisation or registration has been cancelled shall, within sixty (60) days from the date of the cancellation of the authorisation or registration, as applicable, ensure that the services it had been providing to companies or other legal persons in terms of its authorisation or registration are transferred to another person which is duly authorised or registered in terms of this Act: Provided that this sub-article shall not apply to the cancellation of an authorisation or registration in terms of paragraph (f) of sub-article (1):

Provided further that any person whose authorisation or registration has been cancelled in terms of paragraph (f) of sub-article

(1) shall ensure that the services it had been providing to companies or other legal entities in terms of its authorisation or registration are transferred to another person which is duly authorised or registered, or which is otherwise not required to be authorised or registered in terms of this Act, or are otherwise terminated in terms of the applicable law, prior to the Authority acceding to the request for cancelling the authorisation or registration.