S.L. 370.16 Art. 2Interpretation.

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

"the Act" means the Investment Services Act; "contractual fund" shall have the meaning assigned to it in regulation 3; "deed of constitution" means the contract under which a contractual fund is constituted; "currency" means, in addition to the Euro, any convertible currency in terms of article 186 of the Companies Act; "depositary" means the person responsible for the safekeeping and custody of the assets of the contractual fund and for carrying out such duties specified in Investment Services Rules issued by the competent authority or in the contractual fund’s licence conditions; "fractional unit" means a fraction of a whole unit in any class of units issued by the contractual fund; "management company" or "manager" means the person responsible for the proper administration and management of the contractual fund, the general supervision of the contractual fund’s affairs and for carrying out such duties specified in Investment Services Rules issued by the competent authority or as part of the contractual fund’s licence conditions; "multi class scheme" means a scheme falling within the terms of regulation 11; "multi fund scheme" means a scheme falling within the terms of regulation 13; "Special Investment Vehicle" or "SIV" means a company established in accordance with regulation 4; "sub-fund" means a separate portfolio of assets and liabilities maintained by a contractual fund in accordance with its deed of constitution;

"unit-holder" means the holder of one or more units of a contractual fund and references to a unit holder in such a contractual fund shall be construed accordingly.

(2) Words and expressions which are also used in the Act shall have the same meaning as in the Act.