S.L. 370.30 Art. 38European investmentfirms branches of European investment firms located in Malta.

(1) From the date of coming into force of these or regulations*, the Court may not, in relation to a European investment firm or any branch of a European investment firm -

(a) make a winding-up order pursuant to article 224 of the

Companies Act; or

(b) adopt reorganisation measures or perform any act ancillary to the adoption of such measures in terms of Part VI of the Companies Act.

(2) Sub-regulation (1)(a) does not prevent -

(a) the Court from making a winding-up order after the coming into force of these regulations in relation to a European investment firm or any branch of a European investment firm if -

(i) a provisional administrator was appointed in relation to the European investment firm before the coming into force of these regulations, and

(ii) the appointment continues in force until immediately before that winding-up order is made;

(b) the winding-up of a European investment firm or any branch of a European investment firm after the coming into force of these regulations pursuant to a winding-up order which was made, and has not been discharged, before that date.

(3) Sub-regulation (1)(b) does not prevent a provisional administrator of a European investment firm or any branch of a European investment firm appointed before the coming into force of these regulations, from acting in relation to such institution after that date.

*refers to the coming into force of Legal Notice 150 of 2016 - 6th May, 2016.