S.L. 325.6 ст. 2Interpretation.

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

"Act" means the Business Promotion Act;

"Corporation" means:

(a) for the purposes of regulation 11, the Institute for the Promotion of Small Enterprise Limited;

(b) for the purpose of regulations 13 and 14(1) to (5), Jobsplus;

(c) for the purpose of regulations 4, 5, 6, 7, 8, 9, 10, 12, 14(6) to (9), 18, 20, 28 and 30 to 39, the Malta Development Corporation; and for the purposes of the other regulations, the word "Corporation" shall mean any of the above entities as the case may require; "medium-sized enterprise", "small enterprise" and "micro enterprise" shall have the meaning assigned to them by regulation 3;

"Minister" means the Minister responsible for Economic Services and includes, to the extent of the authority given, any person or authority authorised by him to act in that behalf for any purpose of these regulations; "qualifying expenditure" shall mean expenditure of a capital nature -

(a) incurred in acquiring, developing or constructing tangible fixed assets consisting of:

(i) land, industrial buildings or structures, including warehouses and offices within an industrial building or structure, but excluding showrooms; or

(ii) plant and machinery, including computer hardware and software and air conditioning systems, (but excluding non- commercial vehicles) and also including office furniture and fittings or commercial vehicles as may be certified by the Corporation as essential for the implementation of a qualifying investment project; or

(b) incurred in the acquisition or development of technology or know-how whether this is patented or not; where the tangible and intangible assets referred to in paragraphs

(a) and (b) are used in the production of the income derived from the activities referred to in article 3(1) of the Act; and where the tangible or intangible assets in respect of which the expenditure has been incurred is maintained for at least five years or such other shorter period as the Corporation may deem appropriate in view of the nature of the investment project; and "investment project" shall include any qualifying expenditure incurred by a company whether such expenditure is incurred over a period of time or not and whether such expenditure is in respect of a number of items or not:

Provided that with respect to companies which do not qualify as a medium or small sized enterprise, the qualifying expenditure in terms of paragraph (b) shall not exceed twenty-five per cent of the total qualifying expenditure: Provided further that the expenditure is incurred in relation to the setting up of a new activity, the extension or expansion of an existing activity or in relation to the commencement of an activity which involves a change in the product or production processes then undertaken by the company, and provided that the said activity is carried out in Malta:

Provided further that with respect to expenditure referred to in paragraph (a) the expenditure is incurred on assets -

(i) which are new or used in Malta for the first time except when the assets consist of land or buildings; and

(ii) in respect of which no income tax benefit has previously been obtained under the Act or any regulations made thereunder by any person who is connected with the company claiming any benefit contemplated by these regulations or the Act; and, for the purposes of this sub-paragraph, a person shall be considered to be connected to such company if one is, directly or indirectly, controlled or beneficially owned to the extent of more than fifty per cent by the other or both are, directly or indirectly, controlled or beneficially owned to the extent of more than fifty per cent by the same persons: Provided further that:

(i) immovable property held by title of emphyteusis; and

(ii) any asset acquired under a contract of hire which stipulates that ownership of the asset shall or may pass to the lessee when a specified amount has been paid, shall, for the purposes of this definition, be deemed to be assets acquired by the company: Provided further that with respect to the expenditure incurred on the acquisition of assets referred to in paragraph (b) such expenditure is incurred on assets which, in accordance with generally accepted accounting principles, are amortizable and which are purchased from third parties under market conditions; "waste treatment" means physical, thermal, chemical or biological processes, including sorting, which change the characteristics of the waste in order to reduce its volume or hazardous nature, facilitate its handling or enhance recovery, and shall include waste management.

(2) Subject to the provisions of sub-regulation (1), terms and expressions used in these regulations shall, unless the context otherwise requires, have the meaning assigned to them in the Act.