Regulations, 2005

L.N. 364 of 2005

INVESTMENT SERVICES ACT

(CAP. 370)

Investment Services Act(Control of Assets) (Amendment)

Regulations, 2005

IN exercise of the powers conferred by article 12 of the

Investment Services Act, the Prime Minister and Minister of Finance,

acting on the advice of the Malta Financial Services Authority, has

made the following regulations

The title of these regulations is the Investment Services Citation.

Act (Control of Assets) (Amendment) Regulations, 2005 and they

shall be read and construed as one with the Investment Services Act L.N. 240 of 1998.

(Control of Assets) Regulations, 1998, hereinafter referred to as “the

principal regulations”.

For regulation 14 of the principal regulations, there shall Substitutes

regulation 14 of

be substituted the following:“

the principal

regulations.

A custodian shall be –

(a) an entity providing the services of custodian in

terms of a category 4 investment services licence issued

under the Investment Services Act;

(b) an entity constituted in a Member State or EEA

State and operating from a Member State or EEA State

other than Malta, providing the services of custodian to

collective investment schemes and which satisfies any

additional criteria that may be set out in Guidelines issued

by the competent authority from time to time; or

(c) an entity constituted outside Malta and operating

from outside Malta providing the services of a custodian

to collective investment schemes where the competent

authority is satisfied that such entity is of sufficient

standing and repute and having the business organization,

systems, experience and expertise deemed necessary for it

to act as custodian and which satisfies any additional

criteria which may be set out in Guidelines issued by the

competent authority from time to time.”.

B

Mitbug[ fl-Istamperija tal-Gvern — Printed at the Government Printing Press