S.L. 370.24 ст. 4Conditions for the marketing by a Maltese AIFM in Member State or EEA State of third country AIFs.

(1) Without prejudice to Article 43 of the AIFM Directive, a Maltese AIFM may market to professional investors in any a Member State or EEA State, units or shares of third country AIFs it manages and of European feeder AIFs that do not fulfil the requirements prescribed in the second sub-paragraph of Article

31(1) of the AIFM Directive, as soon as the conditions prescribed hereunder are met: Provided that where a Maltese AIFM intends to market units or shares of a third country AIF in Malta to professional investors, such third country AIF shall be exempt from the provisions of article 4 of the Act.

(2) The Maltese AIFM shall comply with all the requirements prescribed in the AIFM Directive with the exception of Chapter VI thereof as transposed in the Investment Services Act (Alternative

Investment Fund Managers) (Passport) Regulations, and the Investment Services Act (Marketing of Alternative Investment

Funds) Regulations.

(3) In addition, the competent authority shall also ensure that:

(a) appropriate cooperation arrangements are in place between the competent authority and the supervisory authority of the third country where the third country AIF is established in order to ensure at least an efficient exchange of information, taking into account the provisions of the Act, which allows the competent authority to carry out its duties in accordance with the provisions of the AIFM Directive;

(b) the country where the third country AIF is established is not identified as a high-risk third country in accordance with Article 9(2) of Directive (EU) 2015/849;

(c) the country where the third country AIF is established has signed an agreement with Malta or with the competent authority and with each other Member State or EEA State in which the units or shares of the third country AIF are intended to be marketed, which fully complies with the standards prescribed in Article 26 of the OECD Model Tax Convention on Income and on Capital and ensures an effective exchange of information in tax matters, including any multilateral tax agreements, and such country is not mentioned in Annex I to the Council conclusions on the revised EU list of non-cooperative jurisdictions for tax purposes.

(4) Where a European regulatory authority of another Member State or EEA State disagrees with the assessment made on the application of sub-regulation (3)(a) and (b) by the competent authority, the European regulatory authority concerned may refer the matter to ESMA which may act in accordance with the powers conferred on it under Article 19 of Regulation (EU) No 1095/2012.