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Suppliment tal-Gazzetta tal-Gvern ta’ Malta Nru. 20,366, 13 ta’ Marzu, 2020
Taqsima  B
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L.N. 47 of 2020 
RETIREMENT PENSIONS ACT 
(CAP. 541) 
Retirement Pensions (Control of Assets) (Amendment) 
Regulations, 2020 
IN EXERCISE of the powers conferred by article 37(1)(b) of the
Retirement Pensions Act, the Minister responsible for the regul ation of
financial services, acting on the advice of the Malta Financial Services
Authority, has made the following regulations:- 
Citation and 
commencement.
S.L. 514.03. 1. (1) The title of these regulations is the Retirement
Pensions (Control of Assets) (Amendment) Regulations, 2020 and
these regulations shall be read and construed as one with the
Retirement Pensions (Control of Assets) Regulations, hereinafterreferred to as "the principal regulations". 
(2) These regulations shall come into force on such date as the
Minister responsible for the regulation of financial services m ay by
notice in the Gazette establish, and different dates may be so
established for different provisions of these regulations. 
Amends 
regulation 15 of the principal 
regulations. 2. Regulation 15 of the principal regulations shall be amended
as follows: 
(a) paragraph (b) thereof shall be substituted by the
following: 
"(b) an entity established in another Member State
or EEA State and operating from a Member State or EEA
State other than Malta, and duly authorised to carry out
custodian services in accordance with Directive 2013/36/
EU of the European Parliament and of the Council of 26June 2013 on access to the activity of credit institutions and
the prudential supervision of credit institutions and
investment firms, or Directiv e 2014/65/EU of the European
Parliament and of the Council of 15 May 2014, on markets
in financial instruments, or accepted as a depositary for the
purposes of Directive 2009/65/EC of the EuropeanParliament and of the Council of 13 July 2009 on the
coordination of laws, regulations and administrative
provisions relating to undertakings for collectiveinvestment in transferable secu rities (UCITS) or Directive
2011/61/EU of the European Parliament and of the Council
VERŻJONI ELETTRONIKA
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of 8 June 2011 on Alternative Investment Fund Managers,
as amended from time to time, and carries on such services
in relation to a retirement scheme or a retirement fundpursuant to the respective EU D irectives, as applicable; or";
and 
(b) in paragraph (c) thereof, the words "an entity which is
subject to an equivalent level of  regulatory supervision", shal l be
substituted by the words "an entity established in a non-MemberState or non-EEA State, which the competent authority considers
to be subject to an equivalent level of regulatory supervision". 
Amends 
regulation 17 of 
the principal 
regulations. 3. Sub-regulation (1) of regulation 17 of the principal
regulations, shall be substituted by the following: 
"(1) The custodian shall: 
(a) take custody of all the assets of any retirement
scheme or retirement fund and shall safeguard such assets
and the interests of the retirement scheme or retirement
fund and of the holders of units or numbers, beneficiariesor investors in the retiremen t scheme or retirement fund,
and 
(b) have oversight duties in relation to retirement
schemes which shall be carried out in accordance with the
Pension Rules.". 
VERŻJONI ELETTRONIKA