Cap. 620 Art. 12Screening process.

(1) The Office shall upon receipt of the notification mentioned in article (5) and not later than five (5) working days from the mentioned receipt, determine whether the foreign direct investment shall be subject to screening.

(2) In reaching its decision, the Office may request any necessary additional information from the foreign investor and may seek the clarifications and explanations that it may deem necessary for its deliberations and conclusions. The process initiated in terms of sub-article (1) and the time-frame established therein shall be suspended until all the information and clarifications requested are duly provided to the Office.

(3) Saving that provided in sub-article (2), where the Office concludes that the foreign direct investment shall not be subject to screening, it shall, within five (5) working days from the date of its decision, inform the foreign investor of its decision.

(4) Where the Office concludes that the foreign direct investment shall be subject to screening, according to the non-exhaustive list of factors and activities mentioned in the Schedule, it shall inform the foreign investor within five (5) working days from the date of its decision, trigger the cooperation mechanism, and shall within sixty (60) calendar days from the date of the decision rendering the investment subject to screening, determine whether the foreign direct investment may affect the security or public order of Malta: Provided that where it deems necessary, the Office may extend the period required to determine whether the foreign direct investment may affect security or public order of Malta.

(5) In reaching the decision mentioned in sub-article (4), the Office may request any additional information that may be required from the foreign investor and the process initiated in terms of the same sub-article and the time-frame established therein shall be suspended until all the information requested is duly provided.

(6) Where, following the process conducted in terms of sub-article (4), the Office concludes that the foreign direct investment does not affect the security or public order of Malta, it shall, within five (5) working days from the date of its decision, inform the foreign investor with the decision.

(7) Where the Office concludes that the foreign direct investment affects the security or public order of Malta, it may condition, prohibit or unwind such an investment, as the case may be, and shall inform the foreign investor in writing with its decision. The notification with the decision shall include a simple reasoned justification.

(8) Where an investment is conditioned, prohibited or unwound pursuant to a decision of the Office in terms of sub-article (7), the foreign investor and any other person, undertaking, organization, foundation or other entity having an interest in the said investment shall not be entitled to claim any compensation or reimbursement for whatsoever reason.

(9) In conducting the processes mentioned in sub-articles (1) and (4), the Office may obtain further information and statements from other public authorities, to the extent deemed necessary.

(10) Where the information provided by the foreign investor is considered by the Office as being incorrect, or where the foreign investor, having been informed that the information provided is incomplete, fails to provide the requested information within twenty

(20) days from the day of service of a request by the Office, the screening process shall cease, the application shall be withdrawn and the investment shall be unwound. The foreign investor and any other person, undertaking, organization, foundation or other entity having an interest in the said investment shall not be entitled to any form of compensation or reimbursement, for whatsoever reason.