S.L. 403.14 Art. 5European insurance undertaking covering risks relating to class 10. S.L. 403.13

(1) Any European insurance undertaking intending to carry on business of insurance in Malta in exercise of a European right, covering a risk relating to class 10 of Part 1 of the Third Schedule to the Act, other than carrier’s liability, shall be required to provide the competent authority with the information contained in Insurance Rules issued for the purposes of these regulations.

(2) Where a European insurance undertaking, through an establishment situated in a Member State or EEA State, other than Malta, intends to cover a risk situated in Malta in class 10 of Part 1 of the Third Schedule to the Act, other than carrier’s liability, the competent authority shall require that undertaking to become a member of and participate in the financing of the Motor Insurers’ Bureau in Malta and the Protection and Compensation Fund for the purposes of Part IV of the Protection and Compensation Fund Regulations.

(3) The financial contribution referred to in sub-regulation (2) shall only be made in relation to risks under class 10 of Part 1 of the Third Schedule to the Act, other than carrier’s liability, covered by way of provision of services.

(4) The financial contribution shall be calculated on the same basis as for European insurance undertakings covering the risks referred to in sub-regulation (2), through an establishment situated in Malta. This calculation shall be made by reference to the European insurance undertaking’s premium income from that class in Malta.