S.L. 386.5 Art. 5Companies carrying out a licensable activity and public companies.

In addition and without prejudice to the requirements of regulation 4, the following requirements shall also apply to foreign companies carrying out a licensable activity and public companies:

Licensed Companies

(1) (a) Where the foreign company carries on, in or from the country or jurisdiction of its formation and incorporation or registration, a business which, if conducted in or from within Malta, would require to be licensed or authorized under any of the Acts set out in the Schedule, and the foreign company is licensed or authorised by a competent authority in that country or jurisdiction, evidence of the consent of that competent authority that the foreign company can be registered as being continued in Malta shall be required, and, if the instrument is not written in the English language, a translation thereof in the English language, certified to be a correct translation in such manner as may be prescribed;

(b) Notwithstanding the license or authorization by the foreign competent authority, all foreign companies intending to carry on a licensable activity in or from Malta shall require a licence or other authorization in terms of law from the competent authority in Malta before commencing operations.

Public Company

(2) Where the foreign company is a public company -

(a) if the foreign company has offered its shares or debentures to the public, the most recent prospectus or equivalent document complying as nearly as may be with the requirements of the Act shall be required; and

(b) if the foreign company is quoted on a recognised stock exchange, evidence to the satisfaction of the Registrar of the consent of the relevant authorities of that exchange to the foreign company being registered as being continued in Malta shall be required, and, if the instrument is not written in the English language, a translation thereof in the English language, certified to be a correct translation in such manner as may be prescribed; and for the purposes of this paragraph "recognised stock exchange" means a stock exchange recognised by the relevant authorities in the country or jurisdiction in which the foreign company is incorporated;

(c) such evidence of the current membership of the foreign company, or the method and form of recording such membership, authenticated in such manner as the Registrar may require, as the Registrar accepts as adequate for compliance with the requirements of this regulation in respect of a list of members of that foreign company.