S.L. 370.44 Art. 4Applicabilityofthe MMF Regulation to the competent authority.

(1) The competent authority shall exercise and fulfil all the functions, obligations and powers which are required or may be imposed on competent authorities in accordance with the MMF Regulation and it shall satisfy all the obligations and requirements imposed on competent authorities by the MMF Regulation.

(2) Without prejudice to sub-regulation 4(1), the competent authority may, for the better implementation of the MMF Regulation, exercise any of the powers assigned to it under the Act in relation to investment services licence holders in possession of a licence in terms of article 3 of the Act and collective investment schemes in possession of a licence in terms of article 4 of the Act or in relation to any other person falling under its regulatory or supervisory functions in terms of the Act.