Capital) (Amendment) Regulations, 2023

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

L.N. 293 of 2023

COMPANIES ACT

(CAP. 386)

Companies Act (Investment Companies with Variable Share

Capital) (Amendment) Regulations, 2023

IN EXERCISE of the powers conferred by article 84 of the

Companies Act, the Minister for the Economy, European Funds and

Lands, in consultation with the Minister for Finance and Employment,

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, 2023, 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) immediately after the definition "base currency",

there shall be added the following new definition

"collective investment scheme" shall have the

same meaning as assigned to it by Article 2 of the

Investment Services Act;"

(b) 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;

"professional investor fund" or "PIF" means a

collective investment scheme which qualifies as a

professional investor fund in terms of the Investment

Services Rules issued under the Investment Services

Act;".;

Regulation 10 of the principal regulations shall be amended

as follows

(a) in sub-regulation (1) thereof, for the words "notified

to the competent authority as Notified AIFs in terms of the

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

there shall be substituted the words "notified to the competent

authority as Notified AIFs or Notified PIFs in terms of the

Investment Services Act (Notified CISs) Regulations,"; and

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

to the competent authority as Notified AIFs in terms of the

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

there shall be substituted the words "notified to the competent

authority as Notified AIFs or Notified PIFs in terms of the

Investment Services Act (Notified CISs) Regulations".

In sub-regulation (1) of regulation 15 of the principal

regulations, for the words "Notified AIFs the units of which are held

solely by Qualifying and Professional investors in terms of the

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

shall be substituted the words "Notified AIFs the units of which are

held solely by Qualifying and Professional investors in terms of the

Investment Services Act (Notified CISs) Regulations and Notified

PIFs the units of which are held solely by Qualifying investors in

terms of the Investment Services Act (Notified CISs) Regulations,".

€0.09