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ARTICLE · 13 OCTOBER 2016

Intra-Group Loans

Ganado Advocates
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On the 9 September 2016 the MFSA issued feedback to its consultation of the 1 April 2016 in relation to intra-group loans.

MaltaFinance and Banking
Ganado Advocates
Ganado Advocates
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On the 9 September 2016 the MFSA issued feedback to its consultation of the 1 April 2016 in relation to intra-group loans.

The MFSA has now launched a second consultation on this matter which will close on the 30 September 2016. It was noted that in response to the numerous representations made by the market, the MFSA is proposing amendments to the original consultation.

The revised proposals of the MFSA apply to insurers and reinsurers including captives and require the pre-approval of any intra-group loan before it is granted. A business case and formal agreement would need to be submitted to the MFSA for prior approval. Permission will not be granted if the loan leads to double gearing of the licensable entities involved.

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