Cap. 529 Art. 2Interpretation.

(1) In this Act, unless the context otherwise requires:

"approved jurisdiction" means an EEA State or an EU Member

State or any other jurisdiction which, in the opinion of the Authority, has an equal or comparable level of regulation regarding company service providers to that in Malta; "authorised person" means a company service provider authorised by the Authority in accordance with this Act; "the Authority" means the Malta Financial Services Authority established in terms of the Malta Financial Services Authority Act; ''by way of business'' means to provide company services in such manner as may be established in rules issued by the Authority in accordance with article 8(1)(e);

"close links" means a situation in which two or more persons are linked in any of the following ways:

(a) by participation, in the form of direct ownership or by way of control, of 20% or more of the voting rights or capital of a body corporate;

(b) by control, through the relationship between a parent undertaking and a subsidiary undertaking as defined in article 2(2) of the Companies Act, or a similar relationship between any natural or legal person and an undertaking; or

(c) to one and the same third person when:

(i) such person is a member of the authorised person’s family, including, but not limited to, the authorised person’s spouse or partner, the authorised person’s child or step-child, the authorised person’s parents and other dependants of the authorised person;

(ii) such person is acting in the capacity of a company service provider of any company, the beneficial owners of which include:

(a) the authorised person, the authorised person’s dependants, including, but not limited to, the authorised person’s spouse, children or step-children; or a body corporate with which one is (b) associated in terms of (a) and (b) above;

(iii) such person is acting as business partner of the authorised person or of any person who, by virtue of sub-paragraphs (i) or (ii) above is connected with the authorised person;

''company services'' means any of the following services:

(a) the formation of companies or other legal entities;

(b) acting as, or making arrangements for another person to act as, director or secretary of a company, a partner in a partnership or hold a similar position in relation to other legal entities;

(c) the provision of a registered office, a business correspondence or administrative address and other related services for a company, a partnership or any other legal entity;

"company service provider" means any person, other than a limited company service provider, that provides or holds itself out as providing any company services to third parties by way of business; "EEA State" means a State which is a contracting party to the agreement on the European Economic Area signed in Porto on 2 May 1992 as amended by the Protocol signed in Brussels on 17 March 1993, and as amended by any subsequent Acts;

"involvements" shall have the same meaning as is assigned to it in the Rules;

"limited company service provider" means any natural person who:

(a) provides or holds himself out as providing, by way of business, any of the following services to third parties:

(i) acting as a director and, or a company secretary in a company and, or a partner in a partnership; and, or

(ii) acting in a similar position in relation to other legal entities; and

(b) intends to have ten (10) or less involvements at some point in time and that, in any case, shall not have more than ten (10) involvements at any point in time; "Member State" means a Member State of the European Union and includes an EEA State; "Minister" means the Minister responsible for the regulation of Financial Services; ''notified person'' means a restricted company service provider who has notified the Authority of his intention to act as such in accordance with the provisions of this Act and any regulations made, and rules issued thereunder;

"operating in or from Malta" includes the existence of an office, branch, or other centre of professional or commercial activities of a regular nature in Malta, and does not include one or more unconnected and sporadic acts; "overseas regulatory authority" means an authority in any country or territory outside Malta which exercises any regulatory or supervisory function in relation to financial services corresponding to a function of the Authority as defined in the Malta Financial Services Authority Act;

"person" means a natural or legal person in terms of law, and for the purposes of this Act the word "legal person" shall include a body or other association of persons whether granted legal personality, in accordance with the provisions of the Second Schedule to the Civil Code, or not;

"prescribed" means prescribed by regulations made, or rules issued under this Act;

''registered person'' means a limited company service provider registered by the Authority in accordance with the provisions of this Act; ''restricted company service provider'' means any natural person who:

(a) acts as a director and, or a company secretary in a company and, or a partner in a partnership and, or holds a similar position in relation to other legal entities; and

(b) does not act or hold any position as referred to in paragraph (a) by way of business; and

(c) meets the requirements established in the rules issued by the Authority in accordance with article 8(1)(f);

(2) Any reference in this Act to any law, or provision thereof, shall be construed as a reference to that law or provision as from time to time in force, and shall include a reference to any enactment replacing such law or provision, and to any subsidiary legislation made thereunder.

(3) Words and expressions used in this Act with reference to any other law shall, so far as necessary to give effect to this Act and consistently with the provisions thereof, have the same meaning as they have in the law with reference to which they are used in the Act.

(4) In this Act and in any regulations made thereunder, if there is any conflict between the English and Maltese text, the English text shall prevail.