S.L. 233.7 Art. 2Interpretation. 

In these regulations, unless the context otherwise requires, any terms used have the same meaning as assigned to them in the Act; and

"Act" means the External Transactions Act;

"bearer-negotiable instruments" means instruments other than currency which entitle their holders to claim a financial amount upon presentation of the instruments without having to prove their identity or entitlement to that amount. Those instruments are:

(i) traveller’s cheques; and

(ii) cheques, promissory notes or money orders that are either in bearer form, signed but with the payee’s name omitted, endorsed without restriction, made out to a fictitious payee, or otherwise in such form that title thereto passes upon their delivery;

"cash" means:

(i) currency;

(ii) bearer-negotiable instruments;

(iii) commodities used as highly-liquid stores of value; "Commissioner" means the Commissioner for Tax and Customs and shall have the same meaning as assigned to it in the

Commissioner for Tax and Customs Act;

"commodities used as highly-liquid stores of value" means a good that presents a high ratio between its value and its volume and that may easily be converted into currency through accessible trading markets while incurring only modest transaction costs. These goods are:

(a) coins with a gold content of at least ninety per-cent (90%); and

(b) bullion such as bars, nuggets or clumps with a gold content of at least ninety-nine point five per-cent (99.5%);

"competent authorities" means the Financial Intelligence Analysis Unit, Police, Asset Recovery Bureau, the Commissioner, Malta Security Services and Malta Financial Services Authority;

"currency" means banknotes and coins that are in circulation as a medium of exchange or that have been in circulation as a medium of exchange and it is still possible for them to be exchanged through financial institutions or central banks for banknotes and coins that are in circulation as a medium of exchange;

"Financial Intelligence Analysis Unit" shall have the same meaning as assigned to it under the Prevention of Money Laundering Act;

"interested authorities" means any other public entity which is not one of the list of competent authorities;

"unaccompanied cash" means cash making up part of a consignment without a carrier.