S.L. 345.20 Art. 2Definitions. Cap. 345. Cap. 330. Cap. 370.

(1) In these regulations unless the context otherwise requires:

"the Act" means the Financial Markets Act;

"competent authority" means the Malta Financial Services Authority established by the Malta Financial Services Authority Act;

"Directive 2003/71/EC" means Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003 on the prospectus to be published when securities are offered to the public or admitted to trading and amending Directive 2001/34/EC, as amended from time to time, and includes any implementing measures that have been or may be issued thereunder;

"Financial Services Tribunal" means the tribunal established in terms of article 21 of the Malta Financial Services Authority Act;

"investment firm" means any legal person, other than persons to whom MiFID does not apply in terms of Article 2 of the said Directive, whose regular occupation or business is the provision of any one or more investment services to third parties on a professional basis;

"Maltese investment firm" means a person licensed in terms of the Investment Services Act, whose head office is in Malta and who is entitled to carry on an activity in a Member State or EEA State other than Malta in exercise of a European Right;

"MiFID" means Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU, as amended from time to time, and includes any implementing measures that have been or may be issued thereunder;

"MTF" means a multilateral system, operated by an investment firm or a market operator, which brings together multiple third-party buying and selling interests in financial instruments – in the system and in accordance with non-discretionary rules – in a way that results in a contract in accordance with Title II of MiFID;

"Regulation 596/2014/EU" means Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC, as amended from time to time;

"SME growth market" means a MTF that is registered as an SME growth market in accordance with these regulations;

"SMEs " for the purposes of these regulations, means small and medium-sized companies that had an average market capitalisation of less than EUR 200,000,000 on the basis of end-year quotes for the previous three calendar years.

(2) Words and expressions used in the Act shall, in these regulations, have the same meaning as is assigned to them in the Act.