S.L. 123.51 Art. 4Classification of a prescribed fund.

The Commissioner shall classify a fund as a prescribed fund if it is a fund of a Malta based scheme that has declared in the manner provided for in these regulations that -

(a) the value of the assets situated in Malta allocated to that fund is on the 1st March 2001 at least eighty-five per cent of the value of the total assets so allocated; or

(b) in the case of a fund that has been granted a collective investment scheme licence on or after the 1st March 2001 the value of the assets situated in Malta that will be allocated to that fund for the purpose of its operations is expected to be at least eighty-five per cent of the value of the total assets that will be so allocated.