S.L. 370.4 чл. 2Interpretation. Cap. 370. S.L. 370.11 Cap. 386.

In these regulations, unless the context otherwise requires: "Act" means the Investment Services Act; "approval" means the positive act at the outcome of the scrutiny of the completeness of the prospectus by the competent authority or by the European regulatory authority including the consistency of the information given and its comprehensibility, within the meaning of the Directive; "closed-ended scheme" means a scheme with fixed share capital;

"competent authority" means the Malta Financial Services Authority appointed under article 2A of the Act;

"the Directive" means Directive 2003/71/EC of the European Parliament and of the Council of 4 November, 2003 on the prospectus to be published when securities are offered to the public or admitted to trading and amending Directive 2001/34/EC as may be amended from time to time and includes any implementing measures that have been or may be issued thereunder; "EEA State" means a State which is a contracting party to the Agreement on the European Economic Area signed at Oporto on the 2nd May, 1992 as amended by the Protocol signed at Brussels on the 17th March, 1993 and as amended from time to time; "European based scheme" means a European based closed-ended scheme covered by the Directive and a collective investment scheme within the meaning of article 2 of the Act established in a Member State other than Malta or an EEA State or set up by contract or otherwise under the laws of a country which is a Member State or an EEA State and which is not a European UCITS within the meaning of the Investment Services Act (Undertakings for Collective Investment in Transferable Securities and Management Companies) Regulations; "European based closed-ended scheme covered by the Directive" means a collective investment scheme within the meaning of article 2 of the Act established in a Member State other than Malta or an EEA State or set up by contract or otherwise under European law, which is closed-ended and which is covered by the Directive; "European regulatory authority" means the body or bodies designated by a Member State other than Malta or an EEA State to carry out the duties provided for in the Directive; "home Member State or EEA State" means the Member State or EEA State where the prospectus has been approved in terms of the Directive; "host Member State or EEA State" means one or more Member States or EEA States where an offer to the public is made, in respect of which Malta is the home Member State;

"Malta based scheme" means a collective investment scheme within the meaning of article 2 of the Act, constituted or incorporated under Maltese law; "Malta based closed-ended scheme" means a Malta based scheme which is closed-ended; "Member State" means a Member State of the European Communities; "Non-European based schemes" means a collective investment scheme within the meaning of article 2 of the Act established outside a Member State or an EEA State or set up by contract or otherwise under the laws of a country which is not a Member State or an EEA State; "non-material changes" means those changes falling within the Schedule when made to a prospectus; "offer to the public" has the same meaning assigned to the words "offer of securities to the public" in article 2 of the Companies Act, and reference therein to the words "securities" or "shares" shall be read as references to "units";

"Rules" means Investment Services Rules and Conduct of Business Rules issued by the competent authority in terms of the Act;

"summary" shall in a brief manner and in non-technical language, convey the essential characteristics and risks associated with the Malta based closed-ended scheme and the units on offer, in the language in which the prospectus is originally drawn up and shall contain a warning as specified in Article 5(2) of the Directive;

"unit" has the same meaning assigned to it by the Act.