S.L. 403.19 Art. 6Eligibility criteria for authorisation.

A reinsurance special purpose vehicle shall only be eligible for authorisation in terms of these regulations if all the following conditions are fulfilled:

(a) the applicant is an undertaking whose head office is in Malta;

(b) its objects or purpose are restricted to operating as a reinsurance special purpose vehicle; and

(c) its providers of debt or financing will be professional clients as defined in Annex II of the MiFID II Directive.