Investment Services Act(Control of Assets) (Amendment)

L.N. 400 of 2005

INVESTMENT SERVICES ACT

(CAP. 370)

Investment Services Act(Control of Assets) (Amendment)

(No. 2) 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 Act

(Control of Assets) (Amendment) (No. 2) Regulations, 2005 and they

shall be read and construed as one with the Investment Services Act

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

principal regulations”.

In sub-regulation (2) of regulation 2 of the principal

regulations, immediately after the definition “assets”, there shall be

inserted the following new definition>

“ “the competent authority” means the Malta Financial

Services Authority appointed under article 2A of the Act<”.

Immediately after regulation 21 of the principal regulations,

there shall be added the following new part>

“Part 5

Professional Investor Funds

“Custodial

Where the scheme qualifies as a professional

arrangements

investor fund targeting qualifying investors in terms of

of

professional

guidelines issued for such purpose by the competent authority,

investor

custodial arrangements of the scheme shall comply with such

funds.”

requirements as the competent authority may from time to

time establish by means of guidelines, and Part 4 of these

regulations shall not apply thereto.”.

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