Cap. 637 Art. 2Interpretation.   Cap. 330.         Cap. 330.   Cap. 252.

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

"admitted instruments for crowdfunding purposes" shall have the same meaning as that assigned to it in paragraph (n) of Article 2(1) of the ECSP Regulation;

"client" shall have the same meaning as that assigned to it in paragraph (g) of Article 2(1) of the ECSP Regulation;

"competent authority" means the Malta Financial

Services Authority established by the Malta Financial Services

Authority Act; "crowdfunding offer" shall have the same meaning as that assigned to it in paragraph (f) of Article 2(1) of the ECSP Regulation;

"crowdfunding platform" shall have the same meaning as that assigned to it in paragraph (d) of Article 2(1) of the ECSP Regulation;

"crowdfunding project" shall have the same meaning as that assigned to it in paragraph (l) of Article 2(1) of the ECSP Regulation;

"crowdfunding service provider" shall have the same meaning as that assigned to it in paragraph (e) of Article 2(1) of the ECSP Regulation;

"crowdfunding service" shall have the same meaning as that assigned to it in paragraph (a) of Article 2(1) of the ECSP Regulation;

"ECSP Regulation" means Regulation (EU) 2020/1503 of the European Parliament and of the Council of 7 October 2020 on European crowdfunding service providers for business, and amending Regulation (EU) 2017/1129 and Directive (EU) 2019/1937, as may be amended from time to time, and includes any implementing measures, implementing technical standards, regulatory technical standards, guidelines and similar measures that have been or may be issued thereunder;

"ESMA" means the European Securities and Markets Authority, established by Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010;

"European regulatory authority" means the body or bodies designated by a Member State or EEA State other than Malta in accordance with Article 29 of the ECSP Regulation to carry out the functions and duties provided for in the ECSP Regulation;

"individual portfolio management of loans" shall have the same meaning as that assigned to it in paragraph (c) of Article 2(1) of the ECSP Regulation;

"investor" shall have the same meaning as that assigned to it in paragraph (i) of Article 2(1) of the ECSP Regulation;

"loan" shall have the same meaning as that assigned to it in paragraph (b) of Article 2(1) of the ECSP Regulation;

"management body" means the body or bodies of a licence holder which are appointed in accordance with national law and are empowered to set the strategy, objectives and overall direction of the licence holder, and oversee and monitor management decision making, and includes the persons who effectively direct the business of the licence holder;

"marketing communications" shall have the same meaning as that assigned to it in paragraph (o) of Article 2(1) of the ECSP Regulation;

"the Minister" means the Minister responsible for the regulation of financial services;

"overseas regulatory authority" means an authority in a country or territory outside Malta that is not a Member State or

EEA State which exercises any regulatory or supervisory function in relation to financial services corresponding to a function of the competent authority as defined in the Malta

Financial Services Authority Act;

"project owner" shall have the same meaning as that assigned to it in paragraph (h) of Article 2(1) of the ECSP Regulation;

"qualifying shareholding" means a direct or indirect holding in a company which represents ten per centum (10%) or more of the share capital or of the voting rights referred to in Articles 9 and 10 of Directive 2004/109/EC of the European Parliament and of the Council of the 15 December 2004 on the harmonization of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market and amending Directive 2001/ 34/EC taking into account the conditions regarding the aggregation thereof laid in that Directive, or which makes it possible to exercise a significant influence over the management of the company in which that holding subsists, and "qualifying shareholder" shall be construed accordingly;

"Regulation (EU) No 1095/2010" means Regulation

(EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC, as may be amended from time to time, and includes any implementing measures, implementing technical standards, regulatory technical standards, guidelines and similar measures that have been or may be issued thereunder;

"Rules" means Rules issued by the competent authority in accordance with this Act;

"transferable securities" shall have the same meaning as that assigned to it in paragraph (m) of Article 2(1) of the ECSP Regulation;

"working days" means days which shall not include

Saturdays and the days referred to in the National Holidays and other Public Holidays Act.

(2) Words and expressions used in this Act which are also used in the ECSP Regulation but which are not defined herein, shall have the same meaning as that assigned to them in the ECSP Regulation.

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