Cap. 645 Art. 11Supervision of credit servicers.

(1) When Malta is the home Member State, the competent authority shall evaluate, by applying a risk-based approach, the implementation by a credit servicer of the requirements set out in paragraphs (e) to (h) of article 8:

Provided that the competent authority shall determine the extent of the evaluation referred to in this sub-article, having regard to the size, nature and complexity of the activities of the credit servicer concerned.

(2) The competent authority shall inform the European regulatory authority of the host Member State, or of the Member State where the credit was granted, when the latter is different from the host and the home Member State, of the results of the evaluation referred to in sub-article (1), upon request of any one (1) of the said European regulatory authorities, or where the competent authority considers it appropriate. The details of any administrative penalty or other administrative measures imposed shall be transmitted by the competent authority to the European regulatory authority of the host Member State and, where appropriate, of the Member State where the credit was granted, when the latter is different from the host and the home Member State.

(3) When carrying out the evaluation referred to in sub-article (1), the competent authority shall exchange information with the European regulatory authority of the host Member State, and of the Member State where the credit was granted, when the latter is different from the host and the home Member State, as is necessary to enable them to carry out their respective functions and duties laid down in the NPL Directive.