S.L. 386.6 Art. 3Applicability.

(1) These regulations shall apply to companies, which on the date of the coming into force of these regulations, have not yet ceased to be offshore companies.

(2) The Act shal1 commence to apply to offshore companies on the date of the coming into force of these regulations, without prejudice to the provisions of the Malta Financial Services Centre Act and notwithstanding anything contained in the memorandum and articles of association of such companies, but subject to regulations 4 and 5 of these regulations.