B 2665
Suppliment tal-Gazzetta tal-Gvern ta’ Malta Nru. 20,698, 10 ta’ Settembru, 2021
Taqsima  B
____________________________________________________________________B 2665
L.N. 360 of 2021
INVESTMENT SERVICES ACT
(CAP. 370)
Investment Services Act (Marketing of Alternative Investment 
Funds) (Amendment) Regulations, 2021
IN EXERCISE of the powers conferred by article 12 of the
Investment Services Act, the Minister responsible for the regulation of
Financial Services, acting on the advice of the Malta Financial
Services Authority, has made the following regulations:
Citation and 
scope.1. (1) The title of these regulations is the Investment
Services Act (Marketing of A lternative Investment Funds)
(Amendment) Regulations, 2021, and these regulations shall be r ead
and construed as one with the Investment Services Act (Marketing of
Alternative Investment Funds) Regulations, hereinafter referred  to as
"the principal regulations".
(2) The scope of these regulations is to transpose, in part,
Article 2 of D irective (EU) 2019/1160 of the European Parliamen t and
of the Council of 20 June 2019 amending Directives 2009/65/EC and2011/61/EU with regard to cross-border distribution of collectiveinvestment undertakings.
Amends 
regulation 1 of 
the principal 
regulations.2. In sub-regulation (3) of regulation 1 of the principal
regulations, for the words "Artic le 4(1)(a), (b), (h), (j)(i) a nd (ii), (k),
(l), (m),(p), (q), (r)(i) and (ii), (w), (x), (y), (aa), (ag) and (aj), Article
31(1) to (4) and (6), Article 32(1) to (7) and (9), Article 43,  Article
61(2),", there shall be substitute d the words "Article 4(1)(a),  (b), (h),
(j)(i) and (ii), (k), (l), (m), ( p), (q), (r)(i) and (ii), (w), (x), (y), (aa), (ag)
and (aj), Article 30a, Article 31(1) to (4) and (6), Article 32 (1) to (7)
and (9), Article 32a, Article 43, Article 43a, Article 61(2), A rticle
69a,". 
Amends 
regulation 2 of 
the principal 
regulations.3. Sub-regulation (1) of regulation 2 of the principal
regulations shall be amended as follows: 
(a) immediately after the definition ""competent
authority" ", there shall be added the following new definition :
""durable medium" means any instrument, which
enables a client to store info rmation addressed personally
to that client in a way accessible for future reference, for a
period of time adequate for th e purposes of the information
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and which allows the unchanged reproduction of the
information stored;"; and
(b) immediately after the defi nition " "marketing" ", there
shall be added the following new definition:
""pre-marketing" means provision of information or
communication, direct or indire ct, on investment strategies
or investment ideas by the AIFM or on its behalf, topotential professional inve stors domiciled or with a
registered office in the Member State or EEA State in orderto test their interest in an AIF or a compartment which is
not yet established, or which is established, but not yetnotified for marketing in accordance with regulations 3, 4
and 5, in that Member State or EEA State where the
potential investors are domicil ed or have their registered
office, and which in each case does not amount to an offer
or placement to the potential investor to invest in the units
or shares of that AI F or compartment;".
Amends 
regulation 3 of the principal 
regulations. 4. Regulation 3 of the principal r egulations shall be amended
as follows:
(a)  in sub-regulation (6) thereof, for the words, "inform
the European Regulatory Authority of the home  Member State
or EEA State of the  A I F  t h a t  t h e  M a l t e s e  A I F M  m a y  start
marketing the units or shares of the said AIF in Malta.", there
shall be substituted the words "inform the European Regulatory
Authority of the home Member State or EEA State of the
European AIF that the Maltese AIFM may start marketing theunits or shares of the said AIF in Malta.";
(b) for sub-regulation (10) thereof, there shall be
substituted the following:
"(10)  Where, pursuant to a planned change, the
AIFM’s management of the European AIF would no longercomply with the provisions of the AIFM Directive or the
Maltese AIFM would otherwise no longer comply with the
provisions of the AIFM Direc tive, the competent authority
shall within fifteen (15) working days of receipt of all the
information referred to in the  sub-regulation (9) inform the
Maltese AIFM that it shall not implement the change. In
such case, the competent authority shall notify the
European Regulatory Authority of the home Member State
or EEA State of the AIF accordingly."; and
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(c) immediately after sub-regulation (11) thereof, there
shall be added the following new sub-regulations: 
"(12) The Maltese AIFM may de-notify
arrangements made for marketing of units or shares of
some or all of the European A IFs under its management,
in respect of which it has made a notification pursuant to
this regulation, where all the following conditions are
fulfilled: 
(a) except in the case of closed-ended AIFs
and funds regulated by the Regulation on European
long-term investment funds, a blanket offer is madeto repurchase or redeem, free of any charges or
deductions, all such European AIF units or shares
held by investors in Malta, is publicly available for at
least thirty (30) working days, and is addressed,
directly or through financial intermediaries,
individually to all investor s in Malta, whose identity
is known; 
(b) the intention to terminate arrangements
made for marketing units or shares of some or all ofits European AIFs in Malta is made public by means
of a publicly available medium, including by
electronic means, which is customary for marketing
European AIFs and suitab l e  f o r  a  t y p i c a l  E u r o p e a n
AIF investor; and
(c) any contractual arrangements with
financial intermediaries or delegates are modified or
terminated with effect from the date of de-notification
in order to prevent any new or further, direct orindirect, offering or placement of the units or shares
identified in the notification referred to in sub-
regulation (13). 
As of the date referred to in paragraph (c), the
Maltese AIFM shall cease any new or further, direct orindirect, offering or placemen t of units or shares of the
European AIF it manages in Malta, in respect of which it
has submitted a notification in accordance with sub-
regulation (13).
(13) The Maltese AIFM shall submit a notification
to the competent authority containing the informationreferred to in paragraphs (a), (b) and (c) of sub-regulation
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(12).
(14) The competent authority shall verify whether
the notification submitted by the Maltese AIFM in
accordance with sub-regulation (13) is complete and shall,
no later than fifteen (15) worki ng days from the receipt of a
complete notification, transm it that notification to ESMA.
Upon transmission of the no tification, the competent
authority shall without undue  delay, notify the Maltese
AIFM of that transmission. For a period of thirty six (36)months from the date referred to in paragraph (c) of sub-
regulation (12), the Maltese AIFM shall not engage in pre-marketing of units or shares of the European AIFs referred
to in the notification, or in respect of similar investment
strategies or investment ideas, in the Member Stateidentified in the notification referred to in sub-regulation
(13).
(15) The Maltese AIFM may engage in pre-
marketing to professional invest ors of units or shares of a
European AIF in Malta, except where the informationpresented to potential p rofessional investors:
(a) is sufficient to allow investors to commit
to acquiring units or shares of a particular AIF; 
(b) amounts to subscrip tion forms or similar
documents whether in a draf t or a final form; or 
(c) amounts to constitutional documents, a
prospectus or offering documents of a not-yet-
established AIF in a final form.
(16) Where a draft prospectus or offering documents
are provided, they shall not contain information sufficientto allow investors to take an i nvestment decision and shall
clearly state that: 
(a) they do not constitute an offer or an
invitation to subscribe to units or shares of an AIF;
and 
(b) the information presented therein should
not be relied upon because it is incomplete and maybe subject to change. 
(17) The Maltese AIFM is not required to submit
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any prior notification to the competent authority, of the
content or of the addressees o f pre-marketing, or to fulfil
any conditions or requirements  other than those set out in
this regulation, before it engages in pre-marketing
activity in Malta.
(18) The Maltese AIFM shall ensure that investors
do not acquire units or shares in a European AIF throughpre-marketing and that investor s contacted as part of pre-
marketing shall only acquire units or shares in thatEuropean AIF through marketing permitted under
regulation 3(1). 
(19) Any subscription by professional investors,
within eighteen (18) months of the Maltese AIFM havingbegun pre-marketing, to units o r shares of a European AIF
referred to in the information provided in the context of
pre-marketing, or of a European AIF established as a result
of the pre-marketing, shall be considered to be the result ofmarketing and shall be subject to the applicable notification
procedures referred to in regulation 3(4). 
(20) Within two (2) weeks of it having begun pre-
marketing, the Maltese AIFM s hall send to the competent
authority an informal letter, in paper form or by electronic
means, which letter shall specify:
(a) a brief description of the pre-marketing
including information on th e investment strategies
presented; and 
( b ) w h e r e  r e l e v a n t ,  a  l i s t  o f  t h e  A I F s  a n d
compartments of AIFs which are or were the subjectof pre-marketing. 
(21) The Maltese AIFM shall ensure that pre-
marketing is adequately documented.
(22) A third party shall only engage in pre-
marketing on behalf of the Maltese AIFM where it is
authorised as an investment firm in accordance with
MIFID, as a credit institution in accordance with theCRD, as a UCITS management company in accordance
w i t h  t h e  U C I T S  D i r e c t i v e ,  a s  a n  A I F M  i n  a c c o r d a n c e
w i t h  t h e  A I F M  D i r e c t i v e  o r  a c t s  a s  a  t i e d  a g e n t  i n
accordance with MIFID. Such a third party shall be
subject to the conditions set  out in this regulation in
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respect of the Maltese AIFM.".
Amends 
regulation 4 of 
the principal 
regulations. 5. Regulation 4 of the principal  regulations shall be amended
as follows:
(a) in paragraph (h) of sub-regulation (4) thereof, for
the words, "where the Maltese AIFM relies on activities of
independent entities to provide investment services in respect
of the AIF:", there shall be substituted the words "where the
Maltese AIFM relies on activit ies of independent entities to
provide investment services  in respect of the AIF;";
(b) immediately after paragraph (h) of sub-regulation (4)
thereof, there shall be adde d the following new paragraph:
"(i) the details necessary, including the address,
for the invoicing or for the communication of anyapplicable regulatory fees or charges by the competentauthorities of the host Member State:";
(c) in sub-regulation (12) thereof, for the words, "the
competent authority shall in form the Maltese AIFM without
undue delay that it shall not implement the change.", there sha ll
be substituted the words "the competent authority shall informthe Maltese AIFM within fiftee n (15) working days of receipt
of all the information referred  to in sub-regulation (11) that it
shall not implement the change. In that case, the competentauthority shall notify the European Regulatory Authority ofthe host Member State of the Maltese AIFM accordingly.";
(d) in sub-regulation (13) thereof, for the words,
"Where the Maltese AIFM proceeds with the implementationof the planned change, notwithstanding the notification
received pursuant to sub-regulations (11) and (12)", there shal l
be substituted the words "Where the Maltese AIFM proceedswith the implementation of the planned change, notwithstanding
the notification received pursu ant to sub-regulations (12)", an d
immediately after the words, "if necessary, the express
prohibition of marketing of the European AIF.", there shall be
added the following words, "The competent authority shall alsonotify the European Regulatory Authority of the host Member
State of the Maltese AIFM accordingly without undue delay.";
(e) in sub-regulation (14) thereof, for the words, "If the
changes are acceptable because they do not affect the complianc e
of the Maltese AIFM’s management", there shall be substitutedthe words "If the changes do not affect the compliance of the
VERŻJONI ELETTRONIKA
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Maltese AIFM’s management", and for the words, "the
competent authority shall, without delay, inform the European
regulatory authority of the hos t Member State of the Maltese
AIFM of those changes", there shall be substituted the words
"the competent authority shall within one month inform theEuropean regulatory authority of the host Member State of theMaltese AIFM of those changes."; and
(f) immediately after sub-re gulation (14) thereof, there
shall be added the following new sub-regulations: 
"(15) The Maltese AIFM may de-notify
arrangements made for marke ting of units or shares of
some or all of the European AIFs under its management in
a Member State or EEA State, in respect of which it has
made a notification pursuant to this regulation, where allthe following conditions  are fulfilled: 
(a) except in the case of closed-ended AIFs
and funds regulated by Regulation (EU) 2015/760 ofthe European Parliament and of the Council of 29
April 2015 on European long-term investment funds
a blanket offer is made to repurchase or redeem, freeof any charges or deductions, all such European AIF
units or shares held by inve stors in that Member State
or EEA State, is publicly available for at least thirty
(30) working days, and is  addressed, directly or
through financial intermediaries, individually to allinvestors in that Member State or EEA State, whoseidentity is known; 
(b) the intention to terminate arrangements
made for marketing units or shares of some or all ofits European AIFs in that Member State or EEA State
is made public by means of a publicly available
medium, including by electronic means, which iscustomary for marketing European AIFs and suitable
for a typical European AIF investor; 
(c) any contractual arrangements with
financial intermediaries or delegates are modified orterminated with effect from the date of de-notification
in order to prevent any new or further, direct orindirect, offering or placement of the units or shares
identified in the notification referred to in sub-
regulation (16). 
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As of the date referred to in paragraph (c) of
this sub-regulation, the Malt ese AIFM shall cease any new
or further, direct or indirect , offering or placement of units
or shares of the European AIF  it manages in the Member
State or EEA State, in respect of which it has submitted a
notification in accordance with sub-regulation (16).
(16) The Maltese AIFM sha ll submit a notification
to the competent authority containing the informationreferred to in paragraphs (a), (b) and (c) of sub-regulation
(15).
(17) The competent authority shall verify whether
the notification submitted by the Maltese AIFM inaccordance with sub-regulation (16) is complete and no
later than fifteen (15) worki ng days from the receipt of a
complete notification, transm it that notification to the
European regulatory authority of the Member State orEEA State, identified in the notification referred to in sub-regulation (16), and to ESMA. Upon transmission of the
notification, the competent authority shall promptly notify
the Maltese AIFM of that t ransmission. For a period of
thirty-six (36) months from the date referred to in
paragraph (c) of sub-regulat ion (15), the Maltese AIFM
shall not engage in pre-marketi ng of units or shares of the
European AIFs referred to in the notification, or in respectof similar investment strategies or investment ideas, in the
Member State or EEA State identified in the notificationreferred to in sub-regulation (16).
(18) The Maltese AIFM shall provide investors who
remain invested in the European AIF as well as thecompetent authority with the information required under
Articles 22 and 23 of the  AIFM Directive. Such
information can be provided, among others, using means
of any electronic or other distance communication.
(19) The competent authority shall transmit to the
European regulatory authority of the Member State orEEA State identified in the not ification referred to in sub-
regulation (16), information on any changes to thedocumentation and information referred to in paragraphs(b) to (f) of sub-regulation (4). 
(20) The Maltese AIFM may engage in pre-
marketing to professional invest ors of units or shares of a
European AIF in a Member State or EEA State other than
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Malta, except where the inform ation presented to potential
professional investors:
(a) is sufficient to allow investors to commit
to acquiring units or shares  of a particular European
AIF; 
(b) amounts to subscription forms or similar
documents whether in a draft or a final form; or 
(c) amounts to constitutional documents, a
prospectus or offering documents of a not-yet-
established AIF in a final form.
(21) Where a draft prosp ectus or offering documents
are provided, they shall not contain information sufficientto allow investors to take an investment decision and shall
clearly state that: 
(a) they do not constitute an offer or an
invitation to subscribe to units or shares of aEuropean AIF; and 
(b) the information presented therein should
not be relied upon because it is incomplete and maybe subject to change. 
(22) The Maltese AIFM does not require to submit
any prior notification to the  competent authority before it
engages in pre-marketing activity in Malta, providedhowever that it fulfils the requirements set out in this
regulation.
(23) The Maltese AIFM shall ensure that investors
do not acquire units or shares in a European AIF throughpre-marketing and that investor s contacted as part of pre-
marketing shall only acquire units or shares in that
European AIF through market ing permitted under sub-
regulation 4(1). 
(24) Any subscription by professional investors,
within eighteen (18) months of the Maltese AIFM having
begun pre-marketing, to units o r shares of a European AIF
referred to in the information provided in the context of
pre-marketing, or of a European AIF established as a result
of the pre-marketing, shall be considered to be the result of
marketing and shall be subject to the applicable notification
VERŻJONI ELETTRONIKA
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procedures referred to in sub-regulation 4(4). 
(25) Within two (2) weeks of it having begun pre-
marketing, the Maltese AIFM shall send to the competent
authority an informal letter, in paper form or by electronic
means, which letter shall specify:
(a) the Member States in which and the
periods during which the pre-marketing is taking or
has taken place;
(b) a brief description of the pre-marketing
including information on the investment strategies
presented; and 
( c ) w h e r e  r e l e v a n t ,  a  l i s t  o f  t h e  A I F s  a n d
compartments of AIFs which are or were the subjectof pre-marketing. 
(26) The competent authority shall promptly
inform the European regulatory authority of the MemberState or EEA State, in which the Maltese AIFM is or wasengaged in pre-marketing. 
(27) The European regulatory authority of the
Member State or EEA State, in which pre-marketing istaking or has taken place may request the competent
authority to provide further information on the pre-
marketing that is taking or has taken place on its territory.
(28) The Maltese AIFM shall ensure that pre-
marketing is adequately documented.
(29) A third party shall only engage in pre-
marketing on behalf of the Maltese AIFM where it isauthorised as an investment firm in accordance withMIFID Directive, as a credit  institution in accordance
with CRD, as a UCITS management company inaccordance with UCITS Directive
, as an AIFM in
accordance with AIFM Directive, or acts as a tied agent
in accordance with MIFID Directive. Such a third party
shall be subject to the conditions set out in this regulationin respect of the Maltese AIFM.".
Amends 
regulation 5 of 
the principal 
regulations. 6. Regulation 5 of the principal r egulations shall be amended
as follows:
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(a) in paragraph (h) of sub-regulation (4) thereof, for the
words, "the European AIFM relie s on activities of independent
entities to provide investment ser vices in respect of AIF:", "there
shall be substituted the words "the European AIFM relies on
activities of independent entitie s to provide investment servic es
in respect of AIF;", and immediately thereafter, there shall be
added the following new paragraph (i):
"(i) the details necessary, including the address,
for the invoicing or for the communication of any
applicable regulatory fees or charges by the competent
authorities of the host Member State:"; and
(b) immediately after sub-re gulation (9) thereof, there
shall be added the follo wing new sub-regulations:
"(10)  The European AIFM may de-notify
arrangements made for marketing of units or shares of
some or all of the European AIFs under its management
in Malta, in respect of which it has made a notificationpursuant to sub-regulation (4), where all the following
conditions are fulfilled: 
(a) except in the case of closed-ended AIFs
and funds regulated by Regulation (EU) 2015/760of the European Parliament and of the Council of 29
April 2015 on European long-term investmentfunds, a blanket offer is made to repurchase or
redeem, free of any charges or deductions, all such
European AIF units or shares held by investors inMalta, is publicly available for at least thirty (30)
working days, and is addressed, directly or through
financial intermediaries, individually to allinvestors in Malta, whos e identity is known; 
(b) the intention to terminate arrangements
made for marketing units or shares of some or all ofits European AIFs in Malta is made public by means
of a publicly available medium, including by
electronic means, which is customary for marketing
European AIFs and suitab l e  f o r  a  t y p i c a l  E u r o p e a n
AIF investor; and
(c) any contractual arrangements with
financial intermediaries or delegates are modified or
terminated with effect from the date of de-notification
in order to prevent any new or further, direct or
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indirect, offering or placement of the units or shares
identified in the notification referred to in sub-
regulation (11). As of the date referred to in point (c)of this sub-regulation, the European AIFM shall
cease any new or further, direct or indirect, offering
or placement of units or shares of the European AIF itmanages in Malta, in respect of which it has
submitted a notification in accordance with sub-
regulation (11).
(11) The European AIFM shall submit a notification
to the European regulatory authority of its home Member
State or EEA State containing the information referred to in
points (a), (b) and (c) of sub-regulation (10).
(12) The European regulatory authority of the
AIFM’s home Member State or EEA State shall verifywhether the notification submitted by the European AIFM
in accordance with sub-regulation (11) is complete and nolater than 15 working days from the receipt of a complete
notification, transmit that not ification to the competent
authority and to ESMA. Upon transmission of the
notification, the European regul atory authority of the home
Member State or EEA State shall promptly notify theEuropean AIFM of that transmission. For a period of 36months from the date referred to in point (c) of the sub-
regulation (10), the European AIFM shall not engage in
pre-marketing of units or shares of the European AIFsreferred to in the notification, or in respect of similar
investment strategies or investment ideas, in Malta.
(13) The European AIFM shall provide investors
who remain invested in the European AIF as well as thecompetent authorities of the AIFM’s host Member State or
EEA State with the information required under Articles 22and 23 of the AIFM Directive. Such information can be
provided, among others, using means of any electronic or
other distance communication.
(14) The European regulatory authority of the
European AIFM’s home Member State or EEA State shalltransmit to the competent authorities of the Member Stateor EEA State, identified in the notification referred to in
sub-regulation (11), information on any changes to the
documentation and information referred to in points (b) to
(f) of sub-regulation (4). 
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(15) The European AIFM may engage in pre-
marketing in Malta, except where the information
presented to potential professional investors:
(a) is sufficient to allow investors to commit
to acquiring units or share s of a particular AIF; 
(b) amounts to subscription forms or similar
documents whether in a draft or a final form; or 
(c) amounts to constitutional documents, a
prospectus or offering documents of a not-yet-
established AIF in a final form.
(16) Where a draft prosp ectus or offering documents
are provided, they shall not contain information sufficientto allow investors to take an investment decision and shall
clearly state that: 
(a) they do not constitute an offer or an
invitation to subscribe to units or shares of an AIF;and 
(b) the information presented therein should
not be relied upon because it is incomplete and maybe subject to change. 
(17) The European AIFM does not require to submit
any prior notification to the  competent authority before it
engages in pre-marketing activity in Malta, providedhowever that it fulfils the requirements set out in this
regulation.
(18) The European AIFM shall ensure that investors
do not acquire units or shares in an AIF through pre-marketing and that investor s contacted as part of pre-
marketing may only acquire units or shares in that AIF
through marketing permitted under sub-regulation 5(1).
(19) Any subscription by professional investors,
within eighteen (18) months of the European AIFM havingbegun pre-marketing, to units o r shares of an AIF referred
to in the information provided in the context of pre-marketing, or of an AIF established as a result of the pre-marketing, shall be considered to be the result of marketing
and shall be subject to the applicable notification
procedures referred to in sub-regulation 5(4).
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(20) Within two (2) weeks of it having begun pre-
marketing, the European AIFM shall send to the European
regulatory authority of the European AIFM’s homeMember State or EEA State an informal letter, in paper
form or by electronic means, which let ter shall specify:
(a) the Member States in which and the
periods during which the pre-marketing is taking orhas taken place;
(b) a brief description of the pre-marketing
including information on the investment strategies
presented; and 
( c ) w h e r e  r e l e v a n t ,  a  l i s t  o f  t h e  A I F s  a n d
compartments of AIFs which are or were the subjectof pre-marketing. 
(21) The competent authority may request the
European regulatory author ity of the European AIFM’s
home Member State or EEA State to provide furtherinformation on the pre-marketing that is taking or has taken
place on its territory. 
(22) The European AIFM shall ensure that pre-
marketing is adequately documented.
(23) A third party shall only engage in pre-
marketing on behalf of a European AIFM where it is
authorised as an investment firm in accordance with
MIFID, as a credit institution in accordance with the
CRD, as a UCITS management company in accordancewith the UCITS Directive, as an AIFM in accordance with
the AIFM Directive, or acts as  a tied agent in accordance
w i t h  M I F I D .  S u c h  a  t h i r d  p a r t y  s h a l l  b e  s u b j e c t  t o  t h e
conditions set out in this regulation in respect of the
European AIFM.".
Amends 
regulation 6 of the principal 
regulations. 7. Regulation 6 of the principal regulations shall be amended
as follows:
(a) in sub-regulation (2) thereof, for the words,
"subject to such variations or modifications as may be
prescribed." there shall be substituted the words "subject to
such variations or modifications as may be prescribed:", andimmediately thereafter, there sh all be added the following new
proviso:
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"Provided that the AIFM shall not be allowed
to engage in the pre-marketing of any units or shares of
an AIF to retail investors.";
(b) immediately after sub-regul ation (3) of regulation 6
thereof, there shall be added the following new sub-regulation:
"(3A) The AIFM shall submit the notification letter
referred to in regulations 3(4 ) and 5(4) respectively and
shall also provide information on the facilities forperforming the tasks referred to in sub-regulation (7) of
this regulation.";
(c) immediately after sub-regulation (6) thereof, there
shall be added the following new sub-regulations (7) to (10): 
" ( 7 ) W h e r e  a n  A I F  i s  t o  b e  m a r k e t e d  t o  r e t a i l
investors in Malta, the AIFM shall take the measures
necessary to ensure that facilities are available therein to
perform the following tasks: 
(a) process investors’ subscription, payment,
repurchase and redemption orders relating to the unitsor shares of an AIF, in acc ordance with the conditions
set out in the AIF’s documents; 
(b) provide investors with information on
how orders referred to in paragraph (a) can be made
and how repurchase and redemption proceeds arepaid;
(c) facilitate the handling of information
relating to the exercise of  investors’ rights arising
from their investment  in an AIF in Malta; 
(d) provide investors with information
relevant to the tasks that the facilities perform in adurable medium; and 
(e) act as a contact poi nt for communicating
with the competent authority. 
(8) In respect of an AIF, units of which are intended
for marketing in Malta, the AIFM shall make available toinvestors for the purposes o f inspection and obtaining
copies thereof an annual repor t for each financial year as
well as the information and documents required pursuant toArticle 23 of AIFM Directive.
VERŻJONI ELETTRONIKA
B 2680
________________________________________________________________________________________________________________________
Ippubblikat mid-Dipartiment tal-Informazzjoni (doi.gov.mt) — Valletta — Published by the Department of Information (doi.gov.mt) — Valletta
Mitbugħ fl-Istamperija tal-Gvern fuq karta FSC — Printed at the Government Printing Press on FSC certified paper
Prezz/Price
€0.72B 2680
(9) The AIFM shall ensure that the facilities to
perform the tasks referred to in sub-regulation (7), are
provided, including electronically: 
(a) in the official language or one of the
official languages of Malta or in a language approvedby the competent authority; 
(b) by the AIFM itself, by a third party which
is subject to regulation and supervision governing thetasks to be performed, or by both. 
(10) For the purposes of paragraph (b) of sub-
regulation (9), where the tasks are to be performed by athird party, the appointment of that third party shall be
evidenced by a written contract specifying which of the
tasks referred to in sub-regulation (7) are not to beperformed by the AIFM and that the third party will
receive all the relevant information and documents from
the AIFM. 
(11) The AIFM shall not be required to have a
physical presence in Malta or to appoint a third party forthe purposes of sub-regulation 7.".
VERŻJONI ELETTRONIKA