Capital) (Amendment) Regulations, 2012

Suppliment tal-Gazzetta tal-Gvern ta’ Malta Nru. 18,934, 22 ta’ Ġunju, 2012 B 1701

L.N. 214 of 2012

COMPANIES ACT

(CAP. 386)

Companies Act (Investment Companies with Variable Share

Capital) (Amendment) Regulations, 2012

IN exercise of the powers conferred by article 84(10) of the

Companies Act, the Minister of Finance, the Economy and

Investment, acting on the advice of the Malta Financial Services

Authority, has made the following regulations

The title of these regulations is the Companies Act Citation.

(Investment Companies with Variable Share Capital) (Amendment)

Regulations, 2012, and these regulations shall be read and construed

as one with the Companies Act (Investment Companies with Variable S.L. 386. 02

Share Capital) Regulations, hereinafter referred to as "the principal

regulations".

Regulation 2 of the principal regulations shall be amended Amends

regulation 2 of

as follows

the principal

regulations.

(a)

in the definition "SICAV", for the words “of the

Investment Services Act.", there shall be substituted the words

"of the Investment Services Act;"; and

(b) immediately after the definition "SICAV" there shall

be added the following new definition

" "UCITS Directive" means Directive 2009/65/EC

of the European Parliament and of the Council of 13 July

2009 on the coordination of laws, regulations and

administrative provisions relating to undertakings for

collective investment in transferable securities (UCITS)

(recast), as amended from time to time, and includes any

implementing measures that have been or may be issued

thereunder.".

Regulation 10 of

the principal regulations shall be Amends

regulation 10 of

amended as follows

the principal

regulations.

(a)

in subregulation (1) thereof, for the words "other

than SICAVs licensed by the competent authority as

Professional Investor Funds", there shall be substituted the

words "other than SICAVs licensed by the competent authority

either as Professional Investor Funds or as UCITS within the

meaning of the UCITS Directive"; and

(b)

in subregulation (2) thereof

(i) for the words "SICAVs licensed by the

competent authority as Professional Investor Funds" there

shall be substituted the words "SICAVs licensed by the

competent authority either as Professional Investor Funds

or as UCITS within the meaning of the UCITS Directive";

(ii) in paragraph (b) thereof, for the words

"Guidelines", and wherever they appear in the principal

regulations, there shall be substituted the words

"Investment Services Rules"; and

(iii) in paragraph (c) thereof, for the words

"guidelines", and wherever they appear in the principal

regulations, there shall be substituted the words

"Investment Services Rules".

€0.09