MT
Investment Services Act (Control of Assets)
Table of Provisions (6)
Statutory Text (6 Articles)
L.N. 113 of 2016
INVESTMENT SERVICES ACT
(CAP. 370)
Investment Services Act (Control of Assets)
(Amendment) Regulations, 2016
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:-
The title of these regulations is the Investment Services Citation and
Act (Control of Assets) (Amendment) Regulations, 2016, and these scope.
regulations shall be read and construed as one with the Investment S.L. 370.05
Services Act (Control of Assets) Regulations, 2016, hereinafter
referred to as "the principal regulations".
Regulation 1 of the principal regulations shall be amended Amends
regulation 1 of
as follows
the principal
regulations.
(a)
for the marginal note thereof, there shall be
substituted the following
"Citation and scope.";
(b) the present regulation shall be renumbered as sub-
regulation (1) thereof; and
(c)
immediately after sub-regulation (1) thereof, as
renumbered, there shall be inserted the following new sub-
regulation
"(2) These regulations shall not apply to
custodians of collective investment schemes, which shall
be regulated by the Investment Services Act (Custodians of
Collective Investment Schemes) Regulations, 2016.".
Regulation 2 of the principal regulations shall be amended Amends
regulation 2 of
as follows
the principal
regulations.
(a)
in sub-regulation (2) thereof -
(i) the definition " "alternative investment fund"
or "AIF" " shall be deleted;
(ii) the definition "custodian" shall be deleted;
(iii) in the definition "customer", the words "or
scheme" shall be deleted;
(iv) the definition "manager" shall be deleted;
(v)
the definition "scheme" shall be deleted; and
(vi) in the definition "subject person", for the
words "and includes a custodian." there shall be substituted
the words "but shall not include a person in possession of a
Category 4(a) or a Category 4(b) investment services
licence whether as sole licence or in conjunction with any
other investment services licence."; and
(b)
sub-regulation (3) thereof shall be deleted.
Immediately after sub-regulation (6) of regulation 9 of the
principal regulations, there shall be added the following new sub-
regulation
"(7) For the purposes of this regulation, "group
company" in relation to a subject person means any body
corporate which is the subject person’s subsidiary or parent
company or a subsidiary of the subject person’s parent
company, and the terms "parent" and "subsidiary" shall be
construed in accordance with article 2(2) of the Companies
Act.".
Parts 4 to 6 of the principal regulations are hereby revoked.
€0.18