S.L. 403.14 Art. 15Publicity requirements for transfers of portfolio.

In the case of a proposed transfer of portfolio, which may include or includes risks situated in Malta or commitments where

Malta is the country of commitment, of a European insurance undertaking carrying on activities in Malta in exercise of a European right, requesting the approval of the competent authority in terms of Article 39 of the Solvency II Directive, the competent authority may, in the interest of policyholders, insured persons and any other person having rights or obligations arising out of the contracts transferred, require such measures, as may be necessary, to be taken, which may include the publication of a notice in two local daily newspapers or a notice to be sent to every policyholder affected by the transfer.