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Article (5): Cooperation with Relevant Regulatory Authorities

C 9/2020 Effective from 10/2/2021
  1. As part of the designation process for LVPS established and/or licensed by another Regulatory Authority in the State or by relevant regulatory authorities in other jurisdictions, the Central Bank may agree with the relevant regulatory authority which parts of this Regulation, where relevant, may not apply to concerned designated LVPS to avoid additional regulatory burden on the SO and SI of the LVPS.
     
  2. The Central Bank will rely on co-operative oversight with the relevant regulatory authority of a designated LVPS operating in the State or in other jurisdictions, in accordance with articles (28) and (127) (2) of the Central Bank Law and the cooperative framework set out in the PFMI.