S.L. 379.8 Art. 2Interpretation.

In these regulations, unless the context otherwise requires -

"Act" means the Competition Act;

"association of undertakings" means a body of persons (whether incorporated or not) which is formed for the purpose of furthering the trade interest of its members or of persons represented by its members;

"concentration" means -

(i) the merging of two or more undertakings that were previously independent from each other; or

(ii) the acquisition by one or more undertakings or by one or more persons already controlling at least one undertaking, whether by purchase of securities or assets, by contract or by any other means, of direct or indirect control of the whole or parts of one or more other undertakings, whether occurring in Malta or outside Malta when in the preceding financial year the aggregate turnover in Malta of of the undertakings concerned exceeded €2,329,373.40 and each of the undertakings concerned had a turnover in Malta equivalent to at least 10 percent of the combined aggregate turnover in Malta of the undertakings concerned: Provided that the creation of a joint venture performing on a lasting basis all the functions of an autonomous economic entity referred to hereafter as a "full-function joint venture" shall also constitute a concentration: Provided further that the following shall not be deemed to give rise to a concentration: - the holding on a temporary basis by credit or financial institutions or insurance companies, the normal activities of which include transactions and dealings in equity securities for their own account or for the account of others, of equity securities which they have acquired in an undertaking with a view to reselling them, provided that they do not exercise voting rights in respect of those equity securities with a view to determining the competitive behaviour of that undertaking or provided that they exercise such voting rights only with a view to preparing the disposal of all or part of that undertaking or of its assets or the disposal of those equity securities and that any such disposal takes place within two years of the date of acquisition or such longer period as the Director General may determine upon request by the institution or company concerned where it is shown that the disposal was not reasonably possible within two years; - control is acquired by the person or entity competent according to law to conduct liquidation, winding up, insolvency, cessation of payment, compositions or analogous proceedings; - control is acquired by a company the sole object of which is to acquire holdings in other undertakings and to manage such holdings and turn them to profit without involving itself directly or indirectly in the management of those undertakings, without prejudice to their rights as shareholders, provided however that the voting rights in respect of the holding are exercised, in particular in relation to the appointment of members of the management and supervisory bodies of the undertakings in which they have holdings, only to maintain the full value of those investments and not to determine directly or indirectly the competitive conduct of those undertakings; "control" means having the possibility of exercising decisive influence on an undertaking, in particular -

(i) through ownership or the right to use all or part of the assets of an undertaking; or

(ii) through rights or contracts which confer decisive influence on the composition, voting or decisions of the organs of an undertaking; provided that even persons or undertakings not holding such rights or entitled to such rights under the contract concerned are deemed to have acquired control if they have the power to exercise the rights deriving therefrom; "Court" means the Civil Court (Commercial Section) established by article 3 of the Civil Courts (Establishment of Sections) Order;

"Director General" means the Director General (Competition) as appointed by article 13 of the Malta Competition and Consumer Affairs Authority Act; "Office" means the Office for Competition as established by article 13 of the Malta Competition and Consumer Affairs Authority Act;

"relevant market" means the market for the products or services whether within Malta or limited to any particular area or locality within Malta or outside Malta, and whether or not restricted to a particular period of time or season of the year; "TFEU" means the Treaty on the Functioning of the European Union; "undertaking" means any person whether an individual, a body corporate or incorporate or any other entity, pursuing an economic activity, and includes a group of undertakings in the sense given to this term by article 2 of the Act.