S.L. 386.13 Art. 2Interpretation.

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

"the Act" means the Companies Act;

"approved auditor" and "auditor" shall have the same meaning assigned to them by article 21(10) of the Insurance Business Act;

"business of insurance" shall have the same meaning assigned to it in article 2(1) of the Insurance Business Act and shall include business carried on by a captive insurance undertaking and a captive reinsurance undertaking as defined in the Insurance Business Act; "competent authority" means the Malta Financial Services Authority established by the Malta Financial Services Authority Act; "the Continuation Regulations" means the Companies Act

(Continuation of Companies) Regulations, and the Insurance Business (Continuance of Companies Carrying on Business of Insurance) Regulations; "Financial Services Tribunal" means the Tribunal referred to in article 21 of the Malta Financial Services Authority Act, and the term "Tribunal" shall be construed accordingly; "incorporation agreement" means an agreement setting out the terms upon which a non-cellular company becomes an incorporated cell of an incorporated cell company in accordance with the provisions of regulation 22(5)(a); "incorporated cell" means a cell of an incorporated cell company created in accordance with the provisions of these regulations; "incorporated cell company" means an undertaking formed and registered as, continued as or transformed or divided into, an incorporated cell company in accordance with the provisions of these regulations and any other applicable law;

"non-cellular company" means a company which is neither an

*see regulation 1(2) of these Regulations, as originally promulgated, and Legal Notice 38 of 2011. "protected cell" has the same meaning as "cell" in the PCC Regulations; "protected cell company" has the same meaning as "cell company" in the PCC Regulations; "relocation agreement" means an agreement setting out the terms upon which the relocation of an incorporated cell from one incorporated cell company to another is to take place in accordance with the provisions of regulation 23.

(2) These regulations shall apply to undertakings carrying on business of insurance and the definitions in this regulation shall be construed accordingly.

(3) Words and expressions used in the Act shall, in these regulations, have the same meaning as is given to them in the Act.