S.L. 370.12 Art. 3Applicability of regulation.

These regulations shall apply to schemes formed, set up or established in accordance with, or existing under the laws of Malta, whether formed, set up or established before or after the coming into force of these regulations and licensed under the Act: Provided that these regulations shall not apply to schemes licensed as professional investor funds and to schemes licensed as alternative investment funds which are to be marketed solely to professional investors as defined in regulation 2(1).