S.L. 514.2 ст. 5Exemption from recognition.

Any person established outside Malta who is appointed by a Maltese IORP, a personal retirement scheme or a retirement fund licensed under the Act to provide one or more back office administrative services as established by Pensions Rules, shall be exempt from the requirement of recognition in terms of article 7 of the Act provided that the competent authority is satisfied that:

(a) such person is of sufficient standing and repute; and

(b) has the business organisation, systems, experience and expertise deemed necessary by the competent authority for it to undertake back office administrative services and which satisfies any additional criteria which may be set out in Pension Rules issued by the competent authority from time to time.