S.L. 331.2 Art. 2Interpretation.

(1) In these regulations, unless the context otherwise requires -

"the Act" means the Trusts and Trustees Act;

"approved jurisdiction" means those jurisdictions which the Authority determines to have a level of regulation and supervision of an equal or comparable level to that provided for under the Act and under any other relevant legislation; "approved by the relevant regulatory authority" means a person who is licensed, authorized or otherwise adequately regulated in its country of residence to the satisfaction of the Authority; "the Authority" means the Malta Financial Services Authority; "company" has the meaning assigned to it in article 2(1) of the Act; "List of Notified PIFs" shall be construed as a reference to the List of Notified PIFs which is held by the competent authority on its website in terms of the Investment Services Act (Notified CISs)

Regulations; "overseas retirement scheme" means a scheme or bona fide arrangement, organized under the laws of a country outside Malta, which govern the rights and responsibilities of the parties thereto, and under which payments are made to beneficiaries for the principal purpose of providing retirement benefits; "parent company" has the meaning assigned to it in article 2(2) of the Companies Act; "professional investor fund" or "PIF" means a collective investment scheme which qualifies as a professional investor fund in terms of the Investment Services Rules issued under the Investment Services Act;

"trustee", in relation to property, means the person or persons holding or in whom the property is vested on terms of trust in accordance with the provisions of the Act or is otherwise deemed to be a trustee under the Act.

(2) Words and expressions which are also used in the Act shall have the same meaning as in the Act.