S.L. 370.22 ст. 6Freedom of establishment of European AIFMs Direct management of a European AIF.

(1)A European AIFM may:

- (a) manage a Maltese AIF directly in Malta, provided the European AIFM is authorised to manage that type of

AIF; and, or

(b) provide directly in Malta the services referred to in

Article 6(4) of the AIFM Directive for which it has been authorised: Provided that the European AIFM shall be exempt from the provisions of article 3 of the Act.

(2) A European AIFM intending to provide the activities and services referred to in sub-regulation (1) in Malta for the first time shall communicate the following information to the European regulatory authority in its home Member State or EEA State:

(a) the intention to directly provide the activities and services referred to in sub-regulation (1) in Malta; and;

(b) a programme of operations stating the particular services which the European AIFM intends to perform and identifying the AIFs it intends to manage.

(3) The competent authority shall, within one month from submission by the European AIFM to the European regulatory authority of the complete documentation in accordance with subregulation (2), receive the complete documentation from the European regulatory authority of the European AIFM’s home Member State or EEA State. The competent authority shall receive a statement to the effect that the European AIFM is authorised by the European regulatory authority in terms of the AIFM Directive: Provided that such transmission shall occur only if the European AIFM’s management of the Maltese AIF complies and will continue to comply with the provisions of the AIFM Directive and the European AIFM otherwise complies with the provisions of the AIFM Directive.

(4) Upon notification by the European regulatory authority of the home Member State or EEA Member State to the European AIFM that the transmission referred to in sub-regulation (3) has occurred, the European AIFM may start to provide its services in Malta.

(5) The competent authority shall not impose any additional requirements on the European AIFM concerned in respect of matters which are covered by the AIFM Directive.

(6) In the event of a change to any of the information communicated in accordance with sub-regulation (2), which changes do not affect the compliance by the European AIFM’s management of the Maltese AIF with the provisions of the AIFM Directive or the compliance by the European AIFM of the provisions of the AIFM Directive, the competent authority shall receive notification of such changes from the European regulatory authority of the home Member State or EEA State of the European AIFM.

(7) Where the European AIFM proceeds with the implementation of a planned change to any of the information communicated in accordance with sub-regulation (2), notwithstanding the notification received pursuant to the first and second sub-paragraphs of Article 33(6) of the AIFM Directive, or if an unplanned change has taken place pursuant to which the European AIFM’s management of the Maltese AIF would no longer comply with the provisions of the AIFM Directive or the European AIFM otherwise would no longer comply with the provisions of the AIFM Directive, the competent authority shall receive notification from the European regulatory authority of the European AIFM’s home Member State or EEA State without undue delay of the measures taken in terms of the third sub-paragraph of Article 33(6) of the AIFM Directive.