S.L. 370.8 Art. 4Other exempt investment advertisements. S.L. 370.10

The provisions of article 11(b) of the Act shall not apply to investment advertisements contained in a publication published and circulated principally outside Malta, or in a sound or television broadcast transmitted principally for reception outside Malta, or any other communication using any other medium, originating outside Malta, unless the investment advertisement is directed to persons in Malta, or is otherwise intended to be made available to persons in Malta not being persons falling within the scope of regulation 3(b): Provided that the exemption described in this regulation shall not apply where the advertisement is issued, broadcast or transmitted by:

(a) a licence holder or;

(b) a licence holder in exercise of a European right within the meaning of regulation 10 of the European Passport Rights for Investment Firms Regulations.