Cap. 574 Art. 2Interpretation. Cap. 204. Cap. 386. Cap. 168. S.L. 371.09. Cap. 376. Cap. 431. Cap. 396. S.L. 373.01. Cap. 371. Cap. 460.

In this Act, unless the context otherwise requires:

"applicant" means a person who applies to the Bank for financing, or any other service;

"Bank" means the Malta Development Bank established under article 3;

"Board" means the Board of Directors of the Bank established under article 20;

"body corporate" means a body of persons having a legal personality distinct from that of its shareholders;

"bye-laws" means the bye-laws made in terms of article 22(2)(j); "Central Bank" means the Central Bank of Malta as defined by the Central Bank of Malta Act;

"Chairperson" means the Chairperson of the Board appointed in

*See Legal Notice 340 of 2017. "company" means a company formed and registered under Part V

of the Companies Act or the Commercial Partnerships Ordinance;

"Chief Executive Officer" means the administrative head of the Bank appointed in accordance with article 21(9); "credit institution" has the same meaning assigned to it in point

(1) of Article 4(1) of Regulation (EU) No. 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No. 648/2012, as amended from time to time, and includes any implementing measures that have been or may be issued thereunder (CRR); "debt obligation" means a bond, debenture, note, investment certificate or other evidence of indebtedness or a guarantee of a corporation, whether secured or unsecured; "de minimis Regulation" refers to Commission Regulation (EU) No. 1407/2013 of 18 December 2013 on the application of articles 107 and 108 of the Treaty on the Functioning of the European Union to de minimis aid; "Depositor Compensation Scheme" means the scheme established by regulation 4 of the Depositor Compensation Scheme

Regulations; "Director" means a member of the Board appointed in accordance with article 21; "emergency" means a force majeure circumstance or a situation where, as a result of a serious shortfall in income and/or liquidity suffered by the Bank or of severe disruption in the financial markets, there is a material adverse effect on the safety and soundness of the Bank; "enterprise" means an organised economic activity carried on by one or more persons; "equity" means ordinary, common or preference shares, warrants, options or debt which, with the passage of time or, as a result of financial or other conditions, may be converted into equity at either the issuer or holder’s option;

"European Commission" means the European Commission established by article 13 of the Treaty;

"European Economic Area" means the area defined by Article 1 of the Agreement on the European Economic Area;

"European Investment Bank" means the bank established by Article 308 of the Treaty on the Functioning of the European Union; the "European Union" means the European Union as referred to in the Treaty; "financial institution" has the same meaning assigned to it by article 2 of the Financial Institutions Act, and includes any branch in Malta of an institution not incorporated in Malta; Regulation (EC) No. 651/2014 of 17 June 2014 declaring certain categories of aid compatible with the internal market in application of articles 107 and 108 of the Treaty; "Government" means the Government of the Republic of Malta;

"interested person" means:

(a) the spouse, common-law partner, child, brother, sister or parent of a Director,

(b) the spouse or the common-law partner of a child, brother, sister or parent of a Director, or

(c) the parent, sister or brother of the spouse, or of the common-law partner, of a Director; "Malta Council for Economic and Social Development" means the advisory body established by article 3 of the Malta Council for

Economic and Social Development Act; "Minister" means the Minister responsible for the Bank; "National Audit Office" means the National Audit Office set up by article 108 of the Constitution of Malta and enacted by the

Auditor General and National Audit Office Act;

"person" includes a trust, a partnership, an association of natural persons, corporations, public organisations and public entities; "politically exposed person" shall have the same meaning assigned to it by regulation 2 of the Prevention of Money Laundering and Funding of Terrorism Regulations; "project" means an investment in an economic activity undertaken by one or more persons or undertakings; "resolution" means a resolution of the Board made in terms of article 22(2)(j); "securities" means the shares of any class or series of shares, warrants, options or the debt obligations of a corporation and includes certificates evidencing those shares or debt obligations;

"shareholders" means the owners of the shares of the Bank in terms of article 10(2); "subsidiary" has the same meaning assigned to it by article 2 of the Banking Act; and "the Treaty" shall have the same meaning assigned to it by article 2 of the European Union Act.

Part II

Establishment and Conduct of Affairs of Bank