Exemption) Regulations, 2009

Suppliment tal-Gazzetta tal-Gvern ta’ Malta Nru. 18,433, 5 ta’ Ġunju, 2009

L.N. 167 of 2009

SPECIAL FUNDS (REGULATION) ACT

(CAP. 450)

Special Funds (Regulation) Act (Retirement Schemes

Exemption) Regulations, 2009

IN exercise of the powers conferred by article 50(1)(f) of

the Special Funds (Regulation) Act, the Minister of Finance,

the Economy and Investment after consultation with the Malta

Financial Services Authority, has made the following regulations:-

The title of these regulations is the Special Funds

(Regulation) Act (Retirement Schemes Exemption) Regulations,

2009.

In these regulations, unless the context otherwise

requires, “the Act” means the Special Funds (Regulation) Act, and

words and expressions which are also used in the Act shall in these

regulations have the same meaning as in the Act.

The following retirement schemes shall not be Scheme Registration

considered as schemes for the purposes of the Act and accordingly Exemption.

none of the provisions of the Act shall apply thereto

(a) retirement schemes established or regulated under

the following legislation

i.

Pensions Ordinance;

ii. Police Act;

iii. Port Workers Ordinance;

iv. Malta Armed Forces Act;

v.

Prisons Act; and

vi.

Members of Parliament Pensions Act.

(b) pensions and pension related arrangements

resulting from agreements that have been entered into

between the employer and employees or representatives of

employees prior to the coming into force of the Act;

(c) retirement schemes which had been in operation

prior to the coming into force of the Act and which are closed

to new members;

(d) social security schemes, pensions and pension

related arrangements in terms of the Social Security Act.

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