REPRESENTATIVE OFFICES
(REQUIREMENTS AND ACTIVITIES) [ S.L.371.04 1
SUBSIDIARY LEGISLATION 371.04
REPRESENTATIVE OFFICES (REQUIREMENTS 
AND ACTIVITIES) REGULATIONS
12th May, 1998
LEGAL NOTICE 113 of 1998.
Citation.
(Requirements and Activities) Regulations.
Interpretation.
Cap. 371.
"competent authority" means the body appointed under article
3(2) of the Act;
"financial undertaking" includes any person undertaking
banking, investment, insurance or any other financial activity;
"representative of office" means an of office established in Malta
by a non-Maltese bank in terms of article 8 of the Act.
Permitted 
activities.
3. (1) The business of a representative of office must be
confined solely to the conduct of purely liaison activities and must
not include the engagement in financial transactions or the
execution of any documents relative thereto, except where
necessary for and incidental to the maintenance of the office in
Malta.
(2) For the purpose of subregulation (1), liaison activities can
take the form of:
( a ) the provision, upon request, of factual information
relating to the products and services of the bank which
the representative office represents;
( b ) the conduct of research work into the economy of
Malta to inform Head Office accordingly;
( c ) liaison with Maltese customers of the bank which the
representative office represents;
( d ) the undertaking of credit assessments on reports on
Maltese entities for any business with the bank that the
representative office represents.
Guidelines.
representative office in Malta and the representative office itself
shall comply with any guidelines as may be established by the
competent authority from time to time.
Conditions.
( a ) keep its activities separate from those of any other
undertaking, financial or otherwise, operating in or
from Malta;
( b ) have its office distinctly located from the office of any
2 [ S.L.371.04
REPRESENTATIVE OFFICES
(REQUIREMENTS AND ACTIVITIES)
other undertaking whether financial or otherwise;
( c ) have its own employees who may not also be
employees, officers or directors of any financial
undertaking operating in or from Malta.
(2) Should a foreign bank with a representative office in Malta
take a significant equity position (of at least 5% as defined in
article 2 of the Act) in any type of a financial undertaking operating
in or form Malta, it should immediately notify in writing the
competent authority.
