Cap. 547 Art. 3Authority to participate in Single Resolution Fund.

(1) Subject to the provisions of this Act, the Government of Malta shall participate in the Agreement relative to transfer and mutualisation of contributions to the Single Resolution Fund during the transitional period, in accordance with the terms and conditions set out in the Agreement, as may be amended from time to time, for the purposes identified under sub-article (2).

(2) The Agreement provides for the uniform rules and procedures for the transfer of contributions to the Single Resolution Fund and for the recourse to the compartments allotted to participating Member States in the Single Resolution Fund in times of economic crisis.