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The MDIA Act provides for the establishment of the MDIA, the Authority that will regulate innovative technologies, and introduces a new level of communication between national competent authorities.
The general requirements of an Innovative Technology Arrangement are intended to meet the standards of legality, integrity, transparency, compliance and accountability. These shall be assessed by the Authority based on its own reviews of all persons involved, all documentation available and the software it may access as would any user thereof.
The Innovative Technology Arrangements and Services (Fees) Regulations, 2018, establish the fees in relation to the certification of Innovative Technology Arrangements, registration of Systems Auditors and Technical Administrators, and other fees.