Passport) (Amendment) Regulations, 2016

Suppliment tal-Gazzetta tal-Gvern ta’ Malta, Nru. 19,554, 5 ta’ April, 2016

L.N. 116 of 2016

INVESTMENT SERVICES ACT

(CAP. 370)

Investment Services Act (UCITS Management Company

Passport) (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:-

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

Services Act (UCITS Management Company Passport) (Amendment) scope.

Regulations, 2016, and these regulations shall be read and construed

as one with the Investment Services Act (UCITS Management S.L. 370.20

Company Passport) Regulations, hereinafter referred to as "the

principal regulations".

(2) The purpose of these regulations is to implement Article

1(3) of Directive 2014/91/EU.

Immediately after sub-regulation (3) of regulation 1 of the Amends

principal regulations, there shall be added the following new sub- regulation

the principal

regulation

regulations.

"(4) These regulations further transpose and implement, in

part, the provisions of Article 1(3) of Directive 2014/91/EU and

they shall be interpreted and applied accordingly.".

Immediately after the definition "branch" in sub-regulation Amends

(1) of regulation 2 of the principal regulations, there shall be added regulation

the principal

the following new definition

regulations.

" "Directive 2014/91/EU" means Directive 2014/91/EU of

the European Parliament and of the Council of 23 July 2014

amending Directive 2009/65/EC on the coordination of laws,

regulations and administrative provisions relating to

undertakings for collective investment in transferable securities

(UCITS) as regards depositary functions, remuneration policies

and sanctions, as may be amended from time to time and

includes any implementing measures that have been or may be

issued thereunder.".

In paragraph (a) of sub-regulation (1) of regulation 6 of the

principal regulations, for the words "pursuant to the applicable

Investment Services Rules;" there shall be substituted the words

"pursuant to regulation 5 of the Investment Services Act (Custodians

of Collective Investment Schemes) Regulations, 2016;".

€0.09