B 2501
Suppliment tal-Gazzetta tal-Gvern ta’ Malta Nru. 20,690, 27 ta’ Awwissu, 2021
Taqsima  B
____________________________________________________________________B 2501
L.N. 333 of 2021
INVESTMENT SERVICES ACT
(CAP. 370)
Investment Services Act (UCITS Management Company Passport) 
(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, scope 
and 
commencement. 
S.L. 370.20.1. (1) The title of these regulations is the Investment
Services Act (UCITS Management Company Passport) (Amendment)
Regulations, 2021, and these regulations shall be read and construed as
one with the Investment Services Act (UCITS Management CompanyPassport) Regulations, hereinafter referred to as "the principa l
regulations".
(2) The scope of these regulations is to transpose Article 1(1)
of Directive (EU) 2019/1160 of the European Parliament and of the
Council of 20 June 2019 amending Directives 2009/65/EC and 2011 /
61/EU with regard to cross-border distribution of collective investment
undertakings.
(3) These regulations shall be d eemed to have come into force
on 2nd August 2021. 
Amend 
regulation 2 of 
the principal regulations. 2. In the definition "UCITS Directive" in sub-regulation (1) of
regulation 2 of the principal regulations, immediately after th e words
"for collective investment in tr ansferable securities (UCITS) ( recast)",
there shall be added the words ", as amended from time to time, and
includes any binding legal instruments, guidelines and other measuresthat have been or may be issued thereunder;".
Amends 
regulation 3 of 
the principal regulations.3. Immediately after sub-regulation (8) of regulation 3 of the
principal regulations, there shall be added the following new sub-
regulations: 
"(8A) Where, pursuant to a change referred to in sub-
regulation (8), the Maltese management company would nolonger comply with the UCITS Directive, the competent
authority shall inform the Maltese management company within
fifteen (15) working days of receipt of all the information
referred to in sub-regulation (8) that it is not to implement t hat
VERŻJONI ELETTRONIKA
B 2502
________________________________________________________________________________________________________________________
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
€0.09B 2502
change. The competent authority shall also inform the European
regulatory authority of the Member State or EEA State in which
the branch is establ ished accordingly. 
(8B) Where a change referred to in sub-regulation (8) is
implemented after information has been transmitted inaccordance with sub-regulation (8A), and pursuant to thatchange the Maltese management company no longer complies
with the UCITS Directive, the competent authority shall take al l
appropriate measures in accordance with the provisions of theAct and any other Act administered by the competent authority
and any regulations issued thereunder, and shall notify theEuropean regulatory authority of  the Member State or EEA State
in which the branch is established without undue delay of themeasures taken.".
Amends 
regulation 9 of the principal 
regulations.4. Immediately after sub-regulation (4) of regulation 9 of the
principal regulations, there shall be added the following new sub-
regulations: 
"(4A) Where, pursuant to a change referred to in sub-
regulation (4), the European management company would nolonger comply with the UCITS Directive, the competentauthority shall receive notification in terms of the second
subparagraph of Article 17(8) of the UCITS Directive from the
European regulatory authority of the home Member State or
EEA State of the European management company. 
(4B)  Where a change referred to in sub-regulation (4) is
implemented, after information has been transmitted by theEuropean regulatory authority of the home Member State or
EEA State of the European management company in accordancewith the second subparagraph of  Article 17(8) of the UCITS
Directive, and pursuant to that change the European management
company no longer complies with the UCITS Directive, the
competent authority shall receiv e notification from the Europea n
regulatory authority of the home Member State or EEA State ofthe European management company without undue delay of themeasures taken in terms of the third subparagraph of Article
17(8) of the UCITS Directive.".
VERŻJONI ELETTRONIKA