S.L. 514.3 чл. 2Interpretation.

(1) Any reference in these regulations to the Act is a reference to the Retirement Pensions Act, and subject to the provisions of sub-regulation (2) of this regulation, the provisions of article 2 of the said Act shall also apply to these regulations.

(2) In these regulations unless the context otherwise requires -"assets" means movable and immovable property of any kind; "competent authority" refers to the Malta Financial Services Authority established under the Malta Financial Services Authority Act; "control of assets" means the holding or control of assets belonging to, or on behalf, of a customer, by a person hereinafter referred to as the subject person, acting in the course of rendering a service under the Act, and includes custody of assets; "custodian" means an entity maintaining custody of the assets of a retirement scheme or retirement fund in accordance with regulations 15 and 16; "customer" means any retirement scheme or retirement fund whose assets are held under the control of a subject person; "European IORP" means an IORP as defined in Article 6(1) of the Occupational Pensions Directive which has been registered or authorised by a European regulatory authority;

"European regulatory authority" means the body or bodies designated by a Member State or an EEA State, other than Malta, to carry out the duties provided for in the Occupational Pensions Directive; "Occupational Pensions Directive" means Directive (EU) 2016/ 2341 of the European Parliament and of the Council of 14 December 2016 on the activities and supervision of institutions for occupational retirement provision (IORPs) (recast), as may be amended from time to time, and includes any implementing measures, implementing technical standards, regulatory technical standards and any similar

*see regulation 1(2) of these Regulations, as originally promulgated. measures that have been or may be issued thereunder;

"subject person" means a person who is in possession of a licence under the Act, or is acting under an exemption from the requirement of such a licence, to control the assets of a retirement scheme or a retirement fund, and includes a custodian.

(3) For the purposes of regulations 10 and 21, "group company", in relation to a subject person, means any body corporate which is the subject person’s subsidiary or parent company, or a subsidiary of the subject person’s parent company; and the terms "parent" and "subsidiary" shall be construed in accordance with article 2(2) of the Companies Act.