The Key Official

A licensee shall appoint at least one key official and such appointment has to be approved by the Authority and shall be a condition of the licence.

Requirements

An application for the appointment of a key official shall be made to the Authority in writing, on an approved form. For the Authority to grant such a licence the applicant must satisfy the following criteria:

1. resident in Malta;
2. a director of the Company holding the licence;
3. a physical person not a legal entity;
4. a fit and proper person.

 In determining whether the applicant is a fit and proper person, the Authority shall have regard to the following matters:

(a)   the character of the persons vested with executive powers in the applicant, and the business reputation of such persons;

(b)   the current financial position, financial background  and business reputation of the applicant’s promoters, shareholders and directors;

(c)   whether the applicant has the appropriate business ability to conduct remote gaming successfully;

(d)  whether the applicant has, or is able to obtain, appropriate resources and is able to maintain minimum required reserves as may be established by the Authority in order to ensure that players shall have winnings paid and deposits returned;

(e)   the commitment of the applicant to maintain a physical presence in Malta;

(f)    whether the applicant is, in the Authority’s opinion, untainted with illegality;

(g)   whether the applicant has followed policies and will take affirmative steps to prevent money laundering and other suspicious transactions; and

(h)  whether the applicant has the capacity and the internal control structures to enable it to comply with the policies and directives which the Authority deems appropriate.

A key official licence shall remain valid until it is cancelled by the Authority under any of the following grounds:

(a)   the key official ceases to be resident in Malta;

(b)   the key official ceases to be a director of the licensee;

(c)   the key official ceases to be, in the Authority’s sole discretion, a fit and proper person.

The Authority may cancel the licence of a key official if such an official is convicted in any country or territory of an offence punishable with imprisonment. To surrender his licence, the key official requires the written consent of the Authority.