S.L. 403.15 Art. 5Publication.

(1) The administrator or any other person appointed by the relevant authorities shall make public any decision on a reorganisation measure by:

(a) publishing a notice of the decision in at least two local daily newspapers, of which one is published in the Maltese language and the other in the English language, and the text of the measure shall be, in Maltese in the Maltese daily, and in English in the English daily; and in any other manner as determined by the relevant authorities; and

(b) publishing an extract from the document establishing the reorganisation measure in the Official Journal of the European Union in the English and the Maltese language at the earliest opportunity.

(2) The publication made pursuant to sub-regulation (1) shall specify:

(a) the name of the relevant authorities;

(b) a summary of the terms of the decision, appointment or order, as the case may be;

(c) the name of the administrator or any other person involved in the reorganisation measures, if any; and

(d) the statutory provisions in accordance with which the decision, appointment or order has been made.

(3) The reorganisation measures shall apply regardless of the provisions concerning publication set out in sub-regulations (1) and

(2) and shall be fully effective against creditors, unless the relevant authorities, the provisions of the Companies Act or the Act, as applicable, provide otherwise.

(4) This regulation is without prejudice to any requirement to publish information imposed upon the administrator in accordance with the Companies Act.

(5) Without prejudice to the provisions of the Companies Act, where the reorganisation measure affects exclusively the rights of shareholders, members or employees of a Maltese insurance undertaking considered in those capacities, sub-regulations (1) and

(2) shall not apply; and in such a case, the relevant authorities shall determine the manner in which shareholders, members and employees affected by such reorganisation measures shall be informed.