Cap. 653 Art. 2Interpretation.  Cap. 386.  Cap. 376.  Cap. 376.  Cap. 376.  Cap. 406.

In this Act, unless the context otherwise requires:

"Board" means the Sanctions Monitoring Board established in article 15;

"Charter" means the Charter of the United Nations signed in San Francisco on the 26th June 1945;

''Council of the European Union'' means the Council established by the Treaty;

"designated person, entity or body" means a natural or legal person, entity or body subject to European Union or domestic restrictive measures or restrictive measures resulting from a United Nations Security Council Resolution;

"domestic restrictive measures" means restrictive measures adopted by order in article 4;

"economic resources" means assets of every kind, whether tangible or intangible, movable or immovable, which are not funds but may be used to obtain funds, goods or services;

"European Union" means the European Union as referred to in the Treaty;

"European Union restrictive measures" means restrictive measures adopted by the European Union on the basis of Article 29 of the Treaty of the European Union or Article 215 of the Treaty of Functioning of the European Union;

"freezing of funds" means preventing the move, transfer, alteration, disposing or use of or access to funds, or dealing with funds in any way that would result in any change in their volume, amount, location, ownership, possession, character, designation or in a change that would enable the funds to be used, including portfolio management;

"freezing of economic resources" means preventing the use of economic resources to obtain funds, goods or services in any way, including but not limited to, by selling, hiring, disposing or mortgaging them;

"funds" means financial assets and benefits of every kind, including but not limited to:

(a) cash, cheques, claims on money, drafts, money orders and other payment instruments;

(b) deposits with financial institutions or other entities, balances on accounts, debts and debt obligations;

(c) publicly-traded and privately-traded securities and debt instruments, including stocks and shares, certificates representing securities, bonds, notes, warrants, debentures and derivatives contracts;

(d) interest, dividends or other income on or value accruing from or generated by assets;

(e) credit, right of set-off, guarantees, performance bonds or other financial commitments;

(f) letter of credit, bills of lading, bills of sale;

(g) documents showing evidence of an interest in funds or financial resources;

(h) crypto assets as defined in Article 3(1), point (5) of Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets, and amending Regulations

(EU) No. 1093/2010 and (EU) No. 1095/2010 and Directives 2013/36/EU and (EU) 2019/1937;

"instant credit transfer" means a credit transfer in euro which is executed immediately, twenty-four (24) hours a day and on any calendar day;

"international treaty" includes any bilateral or regional treaty;

"legal person" means any entity, including but not limited to, a body or association of persons, whether corporate or incorporate registered in Malta;

"Minister" means the Minister responsible for foreign affairs;

"parent company" shall have the same meaning as assigned to it in the Companies Act;

"payment account" shall have the same meaning as assigned to it in the Financial Institutions Act;

"payment service provider" shall have the same meaning as assigned to it in the Financial Institutions Act;

"payment service user" shall have the same meaning as assigned to it in the Financial Institution Act;

"person, entity or body" means a natural or legal person, entity or body registered in Malta;

"proliferation financing" means the act of providing funds or financial services which are used, in whole or in part, for the manufacture, acquisition, possession, development, export, transhipment, brokering, transport, transfer, stockpiling, or the use of nuclear, chemical or biological weapons and their means of delivery and related materials including both technologies and dual use goods used for non-legitimate purposes in contravention of national laws, or where applicable, international obligations;

"Regulation (EU) 2016/679" means the Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation);

"Security Council" means the Security Council established under Chapter V of the Charter;

"Treaty" shall have the same meaning as assigned to it in article 2 of the European Union Act;

"Tribunal" means the Sanctions Implementation Appeals Tribunal established by article 20 which shall have the functions and powers assigned to it by this Act;

"United Nations" means the international organisation set up by the Charter;

"United Nations Security Council Resolution" means any Council Resolution which from time to time may be published by the United Nations Security Council imposing restrictive measures of whatever nature, referred to in the yearly compendiums of United Nations Security Council resolutions and decisions and includes any amendment thereto, including any amendment or addition to any related list of designated persons or entities and any repealing Resolution.