S.L. 123.163 Art. 2Interpretation.

For the purposes of these rules:

"the Act" means the Income Tax Act;

"the Commissioner" means the Commissioner for Revenue;

"European right" means the entitlement of an insurance undertaking to establish a branch, or provide services, in a Member State or an EEA State other than that in which it has its head office -

(a) in accordance with the Treaty as applied in a Member State or an EEA State; and

(b) subject to the requirements of the Single Market Directive and subject to any regulations made under the Act, or insurance rules issued by the competent authority pursuant to the Act, implementing such requirements; "licence holder" means a company registered, licensed or authorised to administer retirement schemes under the Retirement Pensions Act, or any other law substituting the said Act, or to carry on long term business under the Insurance Business Act or a

European Insurance Undertaking carrying on long term business of insurance in Malta in exercise of a European right; "long term business" means business of insurance of any of the classes specified in the Second Schedule to the Insurance Business Act; "notice" means notice in writing and "notify" shall be construed accordingly; "personal retirement scheme" means a retirement scheme which is not an occupational retirement scheme and to which contributions are made for the benefit of an individual;

"qualifying contribution" means a contribution made to a qualifying scheme in respect of which a credit against the income tax chargeable in Malta may be claimed in terms of the Act; "qualifying individual" means an individual who fulfils the requirements of rule 4(1); "qualifying scheme" means a personal retirement scheme or a long term contract of insurance that fulfils the requirements of these rules; "year" means the year immediately preceding a year of assessment unless the context otherwise requires; unless otherwise defined, terms and expressions used in these rules shall have the meaning assigned to them in the Act, the Insurance Business Act, or the Retirement Pensions Act or any other law or laws substituting it or them, as the case may be.