Cap. 591 Art. 28Refusal to grant recognition. 

(1) Without prejudice to the generality of the powers of the Authority, the Authority may issue guidelines or otherwise specify those instances in which it may refuse to grant a recognition, which instances may include the following:

(a) if the application is not submitted in accordance with the established form or in accordance with applicable procedure; or

(b) if the applicable fees have not been paid; or

(c) if the Authority, in its discretion, is not satisfied that the applicant, any relevant persons, including persons with delegated authority of representation, possess the required qualities and, or competencies and, or qualifications, including those relating to security features and automated technology systems used and those related to fit and proper requirements, imposed by the Authority; or

(d) Repealed by Act XIX.2024.26.

(e) if it transpires that any information or submission made to the Authority is false, misleading, inaccurate or incomplete in a material respect; or

(f) if the Authority, in its discretion is not satisfied in accordance with the circumstances of the case that:

(i) the applicant is capable of sustainably financing the innovative technology;

(ii) the applicant has the necessary competence, technical know-how and resources to develop the innovative technology or provide the service;

(iii) the applicant has a business model to develop and, or maintain the innovative technology or provide the service in a viable manner which is compliant with the applicable regulatory instruments in force; and

(iv) the applicant shall comply with all requirements and obligations applicable should a recognition be issued by the Authority, including but not limited to financial safeguards; or

(g) if the Authority believes that the applicant’s proposal is not compliant with the regulatory instruments in force;

(h) if the Authority believes that granting a recognition to the applicant may pose a risk to the reputation of Malta or is otherwise not in the public interest or contrary to regulatory objectives established by the Act;

(i) if the Authority believes that the innovative technology may be used in a manner that is contrary to public morality, or third party personal rights or is considered a potential security threat, or may pose a risk to the reputation of Malta, or is considered to be not in the public interest; or

(j) if the Authority, in its reasonable discretion, is not satisfied that the applicant has complied with and, or has satisfied the required conformity assessment procedure, where applicable and, or other procedures of the Authority. (2) Repealed by Act XIX.2024.26.

(3) Repealed by Act XIX.2024.26.