Investment Services Act (Fees) (Amendment) Regulations, 2023

Suppliment tal-Gazzetta tal-Gvern ta’ Malta, Nru. 21,166, 15 ta’ Diċembru, 2023

L.N. 291 of 2023

INVESTMENT SERVICES ACT

(CAP. 370)

Investment Services Act (Fees) (Amendment) Regulations, 2023

IN EXERCISE of the powers conferred by article 12 of the

Investment Services Act, the Minister responsible for the regulation of

financial services, acting on the advice of the Malta Financial Services

Authority, has made the following regulations: -

The title of these regulations is the Investment Services Act Citation.

(Fees) (Amendment) Regulations, 2023, and these regulations shall be

read and construed as one with the Investment Services Act (Fees) S.L. 370.03.

Regulations, hereinafter referred to as "the principal regulations".

Sub-regulation (1) of regulation 2 of the principal Amends

regulation 2 of

regulations shall be amended as follows

the principal

regulations.

(a) immediately after the definition "home Member State

or EEA State", there shall be added the following new definition

""List of Notified PIFs" shall be construed as a

reference to the List of Notified PIFs which is held by

the competent authority on its website in terms of the

Investment Services Act (Notified CISs) Regulations;";

(b) in the definition "Notified AIF", for the words

"Investment Services Act (List of Notified AIFs) Regulations",

there shall be substituted the words "Investment Services Act S.L. 370.34.

(Notified CISs) Regulations";

(c) immediately after the definition "Notified AIF", there

shall be added the following new definition

""Notified PIF" means a PIF which has been

notified to the competent authority for inclusion in the

List of Notified PIFs and is included in the List of

Notified PIFs held by the competent authority in terms

of the Investment Services Act (Notified CISs)

Regulations;"; and

(d) immediately after the definition “professional client”,

there shall be added the following new definition

""professional investor fund" or "PIF" means a

collective investment scheme which qualifies as a

professional investor fund in terms of the Investment

Services Rules;".

Regulation 4 of the principal regulations shall be amended

as follows

(a) in sub-regulation (2) thereof, for the words

"Investment Services Act (List of Notified AIFs) Regulations,",

there shall be substituted the words "Investment Services Act

(Notified CISs) Regulations,"; and

(b) immediately after the proviso to sub-regulation (2)

thereof, there shall be added the following new sub-regulation

"(3) There shall be paid to the competent

authority by the Notified PIF upon the anniversary date

of inclusion of a PIF in the List of Notified PIFs in

terms of the Investment Services Act (Notified CISs)

Regulations, a renewal of the notification fee

established in the Third Column of the Schedule

Provided that the first annual renewal

notification fee shall be payable by the Notified PIF

immediately upon inclusion of the PIF in the List of

Notified PIFs."

Immediately after paragraph (n) of the Schedule to the

principal regulations, there shall be added the following new item

(o)

Notification

For a PIF to be

‐

included in the

List of Notified 2,000

2,000

PIFs

For a sub-fund

‐

of a Notified

PIF

to

be 1,000

600"

included in the

List of Notified

PIFs

€0.09