MT
Special Funds (Regulation) Act
Statutory Text (5 Articles)
Suppliment tal-Gazzetta tal-Gvern ta’ Malta, Nru. 17,899, 24 ta’ Marzu, 2006
L.N. 72 of 2006
SPECIAL FUNDS (REGULATION) ACT
(CAP. 450)
Special Funds (Regulation) Act
(Exemption) Regulations, 2006
IN exercise of the powers conferred by article 50(1)(f) of the Special
Funds (Regulation) Act, the Prime Minister and Minister of Finance,
acting on the advice of the Malta Financial Services Authority, has made
the following regulations>
(1) The title of these regulations is the Special Funds Citation and
commencement.
(Regulation) Act (Exemption) Regulations, 2006.
(2) These regulations shall come into force on the 30 th
March, 2006.
(1)
In these regulations, unless the context otherwise Interpretation.
requires –
“the Act” means the Special Funds (Regulation) Act<
“the Directive” means Directive 2003#41#EC of the European
Parliament and of the Council of the 3 rd June, 2003 on the activities
and supervision of institutions for occupational retirement provision
as may be amended from time to time and includes any
implementing measures that may be issued thereunder<
“Maltese IORP” means an occupational scheme as defined
in article 2 of the Act, registered by the competent authority in
terms of the Act, and which qualifies as an IORP for the purposes
of the Directive<
“Member State” means a Member State of the European
Communities.
(2) Words and expressions which are also used in the Act
shall in these regulations have the same meaning as in the Act.
A person who is appointed by a Maltese IORP as an asset
manager in terms of the Act, and who is>
(a)
established in another Member State, and
(b) duly authorized to carry out portfolio investment
management in accordance with Directives 85#611#EEC,
93#22#EEC, 2000#12#EC or 2002#83#EC shall be exempt from the
provisions of article 24 of the Act.
(1) The objective of these regulations is intended to
implement the relevant provisions of the Directive and they shall be
interpreted and applied accordingly.
(2) In the event that any of these regulations are in conflict
with the provisions of the Directive, the Directive shall prevail.
Mitbug[ fl-Istamperija tal-Gvern — Printed at the Government Printing Press