S.L. 345.31 Art. 2Interpretation. Cap. 345.   Cap. 330.

In these regulations, unless the context otherwise requires:

"the Act" means the Financial Markets Act;

"credit default swaps" means a derivative contract in which one party pays a fee to another party in return for a payment or other benefit in the case of a credit event relating to a reference entity and of any other default, relating to that derivative contract, which has a similar economic effect;

"EU Regulation" means Regulation (EU) No 236/2012 of the European Parliament and of the Council of 14 March 2012 on short selling and certain aspects of credit default swaps, as amended from time to time;

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

"short selling", in relation to a share or debt instrument, means any sale of the share or debt instrument which the seller does not own at the time of entering into the agreement to sell including such a sale where at the time of entering into the agreement to sell the seller has borrowed or agreed to borrow the share or debt instrument for delivery at settlement, not including:

(a) a sale by either party under a repurchase agreement where one party has agreed to sell the other a security at a specified price with a commitment from the other party to sell the security back at a later date at another specified price;

(b) a transfer of securities under a securities lending agreement; or

(c) entry into a futures contract or other derivative contract where it is agreed to sell securities at a specified price at a future date.

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