Regulations, 2015

Suppliment tal-Gazzetta tal-Gvern ta’ Malta, Nru. 19,364, 6 ta’ Jannar, 2015

L.N. 11 of 2015

INVESTMENT SERVICES ACT

(CAP. 370)

Investment Services Act (Exemption) (Amendment)

Regulations, 2015

IN exercise of the powers conferred by article 12 of the

Investment Services Act, the Minister for Finance, acting on the

advice of the Malta Financial Services Authority, has made the

following regulations:-

(1) The title of these regulations is the Investment Citation and

Services Act (Exemption) (Amendment) Regulations, 2015 and these commencement.

regulations shall be read and construed as one with the Investment S.L. 370.02

Services Act (Exemption) Regulations, hereinafter referred to as "the

principal regulations".

(2) These regulations shall come into force on the 1st January

2015.

Regulation 3 of the principal regulations shall be amended Amends

regulation 3 of

as follows

the principal

regulations.

(a)

in sub-regulation (1) thereof -

(i) in paragraph (y) thereof, for the words

"special purpose entities.", there shall be substituted the

words "special purpose entities;"; and

(ii) immediately after paragraph (y) thereof, there

shall be added the following new paragraph (z)

"(z) a person providing any investment

service in terms of the First Schedule to the

Act, as long as such service is provided solely

to a retirement scheme or to a retirement fund

licensed under the Retirement Pensions Act

and as long as such person is duly licensed

under the Retirement Pensions Act in relation

to the said service."; and

(b) in sub-regulation (2) thereof, for the words "laid

down in paragraphs (f), (g), (h), (l), (q) and (t)", there shall be

substituted the words "laid down in paragraphs (f), (g), (h), (l)

(q), (t) and (z)".

Sub-regulation (1) of regulation 5 of the principal

Amends

regulation 5 of

regulations shall be amended as follows

the principal

regulations.

(a)

in paragraph (d) thereof, for the words "without

raising external capital.", there shall be substituted the words

"without raising external capital;"; and

(b) immediately after paragraph (d) thereof, there shall

be added the following new paragraph (e)

"(e) a retirement scheme or retirement

fund licensed under the Retirement Pensions

Act.".

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