S.L. 370.9 ст. 2Interpretation.

In these regulations, unless the context otherwise requires -

"Act" means the Investment Services Act;

"branch" means a place of business which forms a legally dependent part of a licence holder and from which some or all of the activities for which the licence holder has been authorised is conducted; all the places of business set up in any one country by a licence holder whose head office is in Malta or in another country shall be regarded as a single branch; "competent authority" means the competent authority under the Act; "eligible investor" means any investor who is not excluded from compensation in accordance with the First Schedule; "Emergency Drawdown Reserve" means a reserve as established in regulation 12; "Extraordinary Contribution" means a contribution as established in regulation 12; "Financial Services Tribunal" means the tribunal established in terms of the Malta Financial Services Authority Act; "Fixed Contribution" means a contribution as established in regulation 12; "instruments" shall have the meaning assigned to the word in article 2 of the Act; "investment services activities related revenue" means the revenue of investment firms as reported in the annual audited financial statements, which is derived from activities for which an investment services licence has been granted in accordance with article 3 of the Act: Provided that in the case of fund managers, such revenue shall include the aggregate of investment management and administration fees associated with retail clients, investment advisory fees associated with retail clients and other ISA related revenue as reported in Appendix 2B;

"investor" means any person who has entrusted money or instruments to a licence holder in connection with licensed business, to the exclusion of persons listed in the First Schedule; "EEA state" means a State which is a contracting party to the agreement on the European Economic Area signed at Oporto on the 2nd May 1992, as amended by the protocol signed at Brussels on 17th March 1993, and as amended from time to time;

"licensed business" means the carrying out of any activity in regard to which there is a licence under the Act;

"licence holder" means any person who holds a licence to carry out investment services business in terms of the Act;

"Management Committee" means the Compensation Schemes Management Committee established under regulations 3 and 5 and referred to in the Depositor Compensation Scheme Regulations;

"management expenses" means expenses incurred, or expected to be incurred, by the Scheme in connection with its objectives and functions under these regulations other than those incurred in the payment of compensation in accordance with regulation 19;

"Management Expenses Contribution" means a contribution as established in regulation 12;

"participant" means every licence holder participating or required to participate in the Scheme;

"professional investor" means a professional client as defined in Article 4(10) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU;

"retail investor" means a retail client as defined in Article 4(11) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU; "Scheme" means the Investor Compensation Scheme established under regulation 3; "total revenue" means all gross income received or receivable from the licence holderis business activities which are licensable under the Act, whether actually licensed or not;

"Variable Contribution" means a contribution as established in regulation 12;

and the words and expressions which are also used in the Act shall have the same meaning as in the Act.